July 27, 2015– July 31, 2015 Weekly market report.. Banchero Costa

Wednesday, 05 August 2015 16:33:01 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific) 

The Capesize market remained well supported thanks to the tight market in Atlantic and to an increased activity in Pacific. In Pacific all major Australian charterers were in the market trying to secure tonnage which on prompt was becoming scarce. Freight rates further strengthened up to low/mid $6s/mt. TransPacific RV averaged $13,500/d a gain of around $2,000/d compared to the previous week. In Atlantic the lack of available tonnage persisted and after a slow start freight rates reached $9.5/mt on Friday. Tubarao‐Qingdao kept improving the whole week and closed at low $16s/mt, one dollar more than the previous
week.
 
Panamax (Atlantic and Pacific)

During last week the scenario in the Panamax market changed. In Atlantic rates started softening everywhere apart from in N Atlantic were rates were still firm. ECSAm-East business registered a few Panamax fixed around $13 250/d $325 000 bb for August dates. TransAtlantic was done around 11,500/+ 150,000 bb. Sea Market kept at interesting levels with Panamax fixed around $14,600/d basis dely Iskenderun for trips to F East. In Pacific despite more activity from Australia and NoPac rates softened due to longer position lists. NoPac RV were fixed around $7,000/d basis dely S China and Australia RV around $6,250/d. Indonesia trading was fixed at $6,250/d on nice Kamsarmax to China whilst India redely required a premium. Some interest was available for period with not much difference between short and 1yr duration roughly around $7,250/7,500/d.

Handy (Far East/Pacific) 

Activity persisted in this area, especially in MEG with charterers booking tonnage for short period, Ultramax were booked at $9,500/d level. A few Handymaxes were reported at $6,000/d basis dely MEG for trips to India with dolomite. WC India market as usual was silent with rumors of trips to China fixed around $9,000/d with minerals. S Africa market was getting tight.

Handy (North Europe/Mediterranean) 

Activity in Med remained strong thanks in particular to the grain trade out of B Sea Handysize rates for B Sea‐Med trade were averaging $9,000/d basis dely dop, that is a gain of $3/4,000/d compared to a few weeks back. Activity was strong also on fronthaul trades with a number of fixtures kept private and confidential: Handymax was rumored at $10,000/d basis dely dop Egypt for a timecharter trip via B Sea and redely MEG/India range and a Supramax fixed for a trip to Spore/Japan at $15,000/d. There were also rumors of a fixture 30,000 mt of grain to Red Sea agreed at low $30s/mt. In Cont an Ultramax was fixed at $15,000/d with fertilizers to F East. The scrap trade remained stable around $ 11,500/12,000/d basis Supramax size.

Handy (USA/N.Atlantic/Lakes/S.America) 

Activity in the Pacific market slowed during last week, in particular from N China. An Ultramax was reported at $10,000/d basis dely dop SE Asia for the coal trade between Indonesia to India, then a Dolphin 57 was fixed on the same route for $6,500/d. Another Dolphin 57 was rumored around $7,500/d basis dely dop China for round voyage via SE Asia with Nickel Ore. From N China a Handymax was fixed for a backhaul with steels at $5,750/d basis redely Skaw/Passero.

Handy (Indian Ocean/South Africa)

USG market was still strong with fronthaul rates for Ultramax around $20,000/d. Trip to Cont/Med with Petcoke was reported around $16,000/d on Supramax. Also Handysize were active with 32,000 dwt type agreed for short period at $9,250/d redely worldwide. Supramax for short period were fixed around $13,500/d. ECSAm remained stable with Brazil to Cont/Med around $15,000/d and circa $1,500/d more for W Africa destinations. Also Handies registered strong numbers with a 31,000 dwt fixed at 14,000/d basis redely Algeria.

Banchero Costa and Co Spa 
Email: research@bancosta.it 
Internet: www.bancosta.it


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