Capesize (Atlantic and Pacific)
The Capesize market registered stronger rates especially from North Atlantic due to a shortage of tonnage for prompt dates. Cargoes from Seven Islands to Qingdao had to pay $3/mt more than the previous week, Time Charter rates moved from mid $20,000/d at the beginning of the week to $30,000/d on Friday for a ship with delivery Med for a trip via Black Sea to F East. Trades from Brazil followed the same pattern and settled the week in the mid $13/mt for the standard route from Tubarao to Qingdao. South African market had still to catch up with the rest and remained silent. In Pacific owners did not make much resistance, hence activity was quite good for iron ore cargoes, but rates stood at a conference level around $5.75/mt for route from West Australia to China. Period market was more active with high $14,000/d been discussed for short period.
Panamax (Atlantic and Pacific)
Another positive week was registered in the Panamax sector. TransAtlantic RV were fixed at over $12,000/d basis dely Cont/Med. For RV trip via ECS Am back to Continent or Med rates reached $12,500/$12,750/d + bb. A nice Kamsarmax achieved $17,250/d for a run from Gdynia to F East via N France. Frounthaul from ECS Am saw rates at $13,500/d + $350,000 bb for standard Panamax, a lme agreed $14,300/d + $430,000 bb. In the Pacific basin, despite activity was not extreme, rates kept growing getting closer with the Singapore holidays. Indonesia RV was stronger at $7,500/d, but after a few days a Kamsarmax got $7,500/d basis China dely. NoPac trading was in the $8,500/d levels for a nice Kamsarmax. Australian RV was agreed in excess of $8,000/d on a lme. Short period was active with numbers rumored between $8,500/d and $9,000/d.
Handy (Far East/Pacific)
Pacific market remained stable during last week with rates for Indonesian coal round voyages fixed around $7/$8,000/d bss dely dop SE Asia for a decent Supramax. Steel trade from N China to Indonesia and Thailand registered some good activity with rates at $8/9,000/d bss dely dop N China. A 55,000 dwt was reported done at $9,000/d, one of the best rates in the Pacific basin, for a trade basis dely dop N China, Danjin, to the MEG. A 28,600 dwt was fixed basis dely prompt Vietnam to S Korea via Australia at $5,500/d. A 32,000 dwt for fixed for 2/3 laden legs basis dely Spore at $6,500/d.
Handy (North Europe/Mediterranean)
Both Continent and Mediterranean markets registered a very strong activity during last week, with rates that grew on a daily basis. At the beginning of the week a 55,000 dwt vessel was fixed at $12,000/d for a trip via Continent to Mediterranean, a similar vessel was reported at $14,000/d at the end of the week to carry either scrap or coal. In B Sea a fronthaul voyage was agreed at $12,500/d on a Supramax: at least $1,000/d higher than the previous week.
Handy (USA/N.Atlantic/Lakes/S.America)
Also USG and ECS Am were "on fire". In USG rates were growing day after day: fronthaul business was reported done between $16,000/d and $18,000/d for Supramaxes either with grains or petcoke while an Ultramax has been reported at $21,000/d for a trip to India with petcoke. Rates for trip to Med were rumored around $15,000/d for Supramax size basis dely USG. Activity was strong in ECS Am where fixtures were agreed mostly on dop basis W Africa around $13/$14,000/d levels for fronthaul grains trips via Recalada to Spore/Japan range for a good Supramax.
Handy (Indian Ocean/South Africa)
The market was quite silent despite some activity from the area. There were rumours of some charterers struggling to book tonnage for their requirements out of S Africa to India and China. In MEG charterers looking for Supramax for short period were talking about $8,000/d for 3/5 months basis redely worldwide.
Banchero Costa and Co Spa
Email: research@bancosta.it
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