Capesize (Atlantic and Pacific)
Positive week for capesizes with rates that were improving in all basins. In Pacific rates stood in the mid $5/mt for mid-July dates and timecharters were concluded around $8/$9,000/d depending on vessels’ position and description. The standard C17 route from Saldanha Bay to Qingdao saw rates at low $8/mt. Despite Vale was not in the market, Brazil was active and C3 route was agreed at $12.75/mt towards the end of the week; this seems to suggest an improving market for the coming week. Moreover some backhaul cargoes from Brazil to UKC were fixed in the region of $6.85/mt bss Tubarao/Rotterdam. In the Atlantic basin the route from Bolivar to Rotterdam was fixed several times at an apparently softer $6.75/mt, but bunker prices were dropping, on time charter for t/a was agreed around $8,750/d. Some activity was registered from North Atlantic to F East with a couple of cargoes fixed from East Canada (Seven Islands and Port Cartier) to Qingdao at $14.90/mt and $16.50/mt. A lack of tonnage in Black Sea and East Med pushed rates suddenly up for tct via B Sea to F East with $25,000/d and $27,000/mt agreed bss dely B Sea for 50 days employment. Period activity registered improving numbers with $12,250/d done for 6/9 months for prompt position.
Panamax (Atlantic and Pacific)
A very positive week for the Panamax sector with rates improving in all basins, especially in Atlantic due to a lack of tonnage and many cargoes to be fix for end of July beginning of August dates. Trips within Atlantic were fixed at over $11/12,000/d basis dely Cont/Med, depending on voyage duration. From EC South America trip back to Cont or Med registered rates reaching up to $12,500/d + $250,000 bb. Fronthaul from EC South America saw rates over $13,000/d + $300,000 bb, but most ships were fixed basis dely Cape of Good Hope or Middle East while from USG the last done was at $14,000/d + $400,000 bb. In Pacific the market started a bit quieter, but day after day kept improving and showed firm numbers. Demand was a bit quieter for NoPac. Indonesia RV were fixed around $7,000/d. NoPac trading was in the $6,500/d, but rates keep growing. Australia RV started around $7,250/$7,500/d and reached around $8,000/d by the end of the week. Period activity was of interest, from $7,500/d for 4/6 months to something higher than $8,000/d.
Handy (Far East/Pacific)
Despite the activity was slow, it was still strange to see no Supramax fixtures reported. Last week a large amount of tonnage was said to have been covered on local employments. Supramaxes carrying coals from Indonesia to India were rumored at rates between $8,500/d and $10,000/d depending on the vessel type and redelivery on East or West Coast India. Much lower rates from same loading area to China which left several enquiries still available when the week ended. Handysize kept rolling on levels similar to the previous dones, with a very good $7,750/d agreed on a fancy 36,000 dwt delivered dop Japan to perform a NoPac RV.
Handy (North Europe/Mediterranean)
The spot market kept improving further from Atlantic Americas, this brought additional benefit to the rates available on the European side of the Atlantic. An Ultramax was taken basis delivery South Italy at $13,500/d to load in B Sea for Spore/Japan discharge, and a 50,000 size got $9,000/d basis Passero loading clinkers in S Spain for W Afr discharge. A 52,000 dwt delivering E Med was fixed for short period at $9,500/d with redely F East and $1,000/d less for redely at Atlantic. In N Europe a 17 years old 45,000 dwt was fixed basis dely Gibraltar via Baltic into the F East at $9,000/d, while the previous week a sister vessel got the same rate basis delivery continent.
Handy (USA/N.Atlantic/Lakes/S.America)
The market kept booming in these waters. A huge number of fixtures was reported showing improving rates for all trades and sizes. Several Supra’s were booked from USG to East including an Ultramax that achieved $18,000/d. From same loading area a 53,400 size agreed $16,750/d to WCCAm and an option for F East at $15,750/d. A similar unit got only $10,000/d to go E Med, then a 30,000 size got $10,000/d to Morocco and an Ultramax $12,500/d for short period with redely Atlantic. South American market showed great interest for smaller sizes; Handysize got stronger rates to go F East and WCAmerica and Handymax fix good numbers basis delivery at W Afr to preform round trips or business via S America to the USG. The strong market in this area allowed the owners of an Ultramax to fix a trip to F East at $12,500/d basis delivery S Africa.
Handy (Indian Ocean/South Africa)
A little more activity was noticed within the MEG/West Coast India range. A non fancy 56,800 dwt got $7,400/d basis dely dop West Coast India via Red Sea to carry fertilizers to East Coast India. Two Ultramax got mid/high $7,000/d for short period and 2 laden legs.
Banchero Costa and Co Spa
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