Capesize (Atlantic and Pacific)
Gloomy market and bearish sentiment for the Capesize market. In Pacific despite good volumes fixed by the miners out of Western Australia to China, rates were nudging around mid $7/mt level. Brazil was almost absent from the market apart from sporadic fixtures in the mid $20/mt level. The Atlantic situation was not different and charterers managed to fix a low $9/mt for a Bolivar/Rotterdam stem with owners willing to repeat last done levels, but demand was lacking.
Panamax (Atlantic and Pacific)
Last week the Panamax market didn't follow the rising trend of the week before. Despite the number of early vessels fixed in Cont, also supported by ECSAm demand, the number of vessels ballasting from the East made the list of tonnage available quickly grow again. This put the Atlantic market slightly under pressure; approaching the end of the week running costs were barely covered and trading had a lethargic feeling. Transatlantic RV were done around $6,000/d for vessels open Cont or W Med and fronthaul was mainly reported around $11,750/12,000/d + $175,000/200,000 bb. Period trading for prompt vessels was minimal and most of fixtures went for shorter durations around $8,500 for 4/6 months and with the value for 1 year around $10,000/day. Activity in the East slowed down as well. Earlier fixtures were reported on a dop basis, day by day charterers were beginning to push again for aps deliveries. Only fancy ships, eco-type, continued to command the highest numbers. Demand slowed down and a general sense of stagnation started growing again. NoPac RV was done around $6,000/d and something better was reported for the Australian cargoes, in the mid/high $6,000. Indonesian business was concluded mostly around the $5,000/d on dop bss.
Handy (Far East/Pacific)
Chartering activity remained quiet in this area. Supramax rates were close to the levels of the previous week with some improvements. A 57,900 dwt dely Thailand got a good $7,750/d for a trip via Australia to F East. A 56,900 dwt got $8,000/d basis dely Spore via Indo to China. A 55,600 dwt was fixed at a firm $11,500/d for 2/3 months with delivery Shanghai redelivery India/Japan range. A 62,450 dwt was reported at $12,500/d for 1 year employment basis dely China; there are rumors that the rate is not correct and is actually $10,500/d, but confirmation will only come later. Backhaul voyage from China to WAfr remained almost unchanged at $8,000/d level for the first 60 days and $11,000/d balance. Handysizes kept enjoying proportionally higher rates compared to bigger tonnage. A 33,900 dwt delivery S China got $8,500/d to carry fertilizers to EC India and a 29,000 size fixed $8,000/d from Japan to MEG.
Handy (North Europe/Mediterranean)
Activity remained very quiet around Europe. Owners competed to get Fertilizer cargoes from lower Baltic to Atlantic Americas whilst WCSAm did not receive much interest. No Supramax deals were reported from this area where the Supramax index to F East fell $400/d. From BSea a Tess 52 was reported at only $8,650/d for a trip with grains to East, apparently she got strangled by charterers because idle for a few days. Despite the weak trend a grabbed 33,000 dwt achieved $7,000/d for 3/5 months.
Handy (USA/N.Atlantic/Lakes/S.America)
Slower activity caused a lot of volatility and a difficult pattern to understand for Supramax business out of USG. At first a 56,000 dwt was fixed from USG to E Med at an improved $10,000/d, then a sister vessel got only $10,600/d for a trip to East. Shortly afterwards a 51,000 dwt got paid $11,000/d on same trade and then another similar sized reached $11,750/d basis wider redely India/Jpn range. From S America activity focused on Atlantic business. A 55,000 dwt got $5,500/d basis dely WAfr for a trip via NCSAm to E Med. On the same trade a 55,000 dwt achieved $11,750/d basis dely aps Recalada. Once again smaller Handies got higher rates from S America with a 33,900 dwt achieving $8,250/d from Recalada to NCSAm and a cargo of 25,000/10 of soya beans from Brazil to Egypt at $35/mt on voyage basis.
Handy (Indian Ocean/South Africa)
Ramadan kept on affecting the activity in this area. Some Supramax sized coal stems were circulated in the market from S Africa, but no concluded deals were reported so far.
Banchero Costa and Co Spa
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