Capesize (Atlantic and Pacific)
Market drifted down especially in the Atlantic basin with Bolivar/Rotterdam cargoes fixed below $10/mt, this scared many players in Atlantic. Fronthaul business for late August dates from Brazil was fixed in the mid $20/mt range. In Pacific the market remained stable in the high $7/mt for Western Australia/China voyage whilst from Eastern Australia activity slowed. Period interest was good in particular for short durations 5/8 months that was concluded around $14,000/d basis prompt delivery.
Panamax (Atlantic and Pacific)
Last week saw tonnage availability growing in both basins. A growing number of charterers were on hold awaiting freight rates to decrease hence demand was slower than previous weeks. The Baltic Panamax Index lost 66 points closing at 1104. Activity was limited in USG and tonnage open there had also to compete with vessels from the East. The Atlantic Rounds, after a quick run for prompt tonnage at the beginning of the week, saw large availability of vessels from Med with owners willing to consider again single legs instead of 2 laden legs only. The ECSAm/FEast grain trade slowed, but, despite the number of ballasters fixing basis dely Cape of Good Hope or passing/retro Spore, fixtures remained steady. In the Pacific basin rates remained under pressure the whole week: Pacific Rounds were generally offered around $9,000/d on Monday and closed around $7,500/d on Friday, APS basis appeared again especially for Indo RV. Period business was still available, but owners are largely reluctant to commit long.
Handy (Far East/Pacific)
Activity was still focused on cargoes out of Indonesia, mostly for India. On this trade freight rates improved at the beginning of the week with a 57,000 dwt fixed at $8,500/d basis dely N. China and redely EC India, softened during the middle of the week with a similar vessel fixed at the same rate basis dely S China and firmed up at the end with another similar unit fixed at $10,000/d basis dely S. China, which despite WC India redely is still making a premium. On the Indo/China trade a 53,000 tonner eco type was fixed at lower $10,600/d basis dely passing Spore and redely N. China with bauxite. In this scenario a 57,000 dwt achieved a good $7,250/d for a trip E China to Thailand whilst a 55,000 dwt was booked at $8,750/d for NoPac Round with dely Japan. The market for Handysize showed a fancy 33,600 dwt booked at $8,000/d for 4/6 months basis dely Indo and a sister unit achieving $7,500/d for Australia/China basis dely Spore. A 32,000 dwt was fixed at $2,900/d to perform a
backhaul trip to Brazil with dely N. China.
Handy (North Europe/Mediterranean)
Reports of activity in Cont were lacking last week. From Med area only a fixture was reported: a 49,000 dwt was fixed at $9,750/d for a trip with clinker from E. Med to WAfr. Black Sea was described busier with a Supramax rumored fixed at $15,000/d for a trip to East. The week ended with more enquires for similar size and trade.
Handy (USA/N.Atlantic/Lakes/S.America)
The Supramax market from S. America to Far East showed weaker freight rates. A fancy 58,000 dwt and a standard 57,000 dwt were both booked at $13,000/d + $300,000 ballast bonus. Another Supramax was rumored fixed at $15,000/d for a trip to Nigeria. Business out of USG remained pretty unchanged with Supramax fixing at $19,500/d for redely Morocco and $17,500 for Cont/Med. A fancy 58,000 dwt achieved $21,000/d to carry pet coke to Spain/Portugal. Even if only a 36,000 dwt was reported basis dely dop WC Mexico for a trip USG/Brazil, rumors suggested that activity was good. For this trade and size. A 32,500 dwt achieved $15,000/d basis dely Skaw-Passero and redely Cont and a smaller 28,000 tonner in Cont achieved $11,850/d basis dely Panama City.
Handy (Indian Ocean/South Africa)
Iron ore from EC India to China is moving again: a standard 55,000 tonner was booked at $7,300/d, a standard 57,000 tonner was rumoured agreed at very similar levels and a third, fancier and larger 61,599 dwt fetched $8,900/d. Good rates were also available on the South Africa/FarEast trade where three units were reported at improving rates: a 58,000 dwt achieved $9,250/d + $285,000 bb, a standard 55,000 dwt fixed at $9,000/d + $325,000 bb and then a 52,000 dwt got $8,500/d + $275,000 bb.
Banchero Costa and Co Spa
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