Capesize (Atlantic and Pacific)
Last week the Capesize market registered significant improvements. In Pacific rates remained strong with West Australia to China routes concluded at $8.15/mt whilst the Pacific round was at region $11,5/12,000/day. S. Africa to China was reported at $14,05/mt basis Saldhana Bay loading. FrontHaul levels were around $19.00/mt basis Tubarao $20.00/mt basis Itaguai. However highest improvements were registered in Atlantic where the TransAtlantic RV were done at $11/11,500 with rumours on Friday of $16,000/d basis dely Gibraltar agreed for a spot position. Some activity was registered on periods with $11,500 daily agreed for end June delivery for 5/7 months.
Panamax (Atlantic and Pacific)
Last week started with a strong, positive feeling that slightly slowed at the very end during Friday. Index gained 68 points rising to 927. In Atlantic vessels availability was still tight on prompt dates. Freight rates strengthened the gains of the previous week. Single rounds from Passero were fixed in the mid $8,000/d whilst 2 laden legs from Cont were done in the mid/high $9,000/d. On the trips ECSAm/FarEast charterers were bidding in the low/mid $14,000/d + 425/450,000 bb getting closer to owners' ideas aiming $15,000/d + 500,000 region. A good number of deals were concluded passing Good Hope at $9,000/d + 400k or retro sailing from Far East in the $7,000/d. The Pacific basin had a large amount of tonnage available and did not register a similar trend; rates were steady and offered more opportunities out of Australia instead of fixing only Indo rounds on aps basis. NoPac was limited. The interest for period deals improved given the strengthening of Atlantic rates.
Handy (Far East/Pacific)
Supramax spot business was dominated by Nickel Ore trade in SE Asia last week. A large amount of tonnage was fixed basis dely dop S China anywhere between $9,000 and $9,750/d depending on specs and positional matters. On that trade a 54,000 tonner with high fuel consumption and dely N China still managed to achieve $7,000/d and followed by a sister unit at $8,000/d due to a more favourable position. Coal out of Indo to India began with a 58,000 dwt booked with dely N China at $9,000/d basis redely EC India or $10,000/d redely WC India and ended up with another two units booked at $9,000/d straight to WC India. Basis dely Spore a 56,700 dwt achieved $11,750/d via Indo to full range India and a 53,000 agreeing $11,000/d basis redely N China. NoPac market improved with a 58,000 dwt achieving $9,000/d basis dely dop Japan and redely FarEast and a 37,000 dwt getting $10,500/d + 325,000 bb with dely aps N Pacific and redely Spore-Jpn range. Improved period interests showed a 53,000 dwt achieving $9,000/d for 3/5 months basis dely N China and a 28,000 getting $7,000/d for 3/5 months basis dely Spore.
Handy (North Europe/Mediterranean)
Reports of concluded activity were lacking again, might be due also to a slowdown of demand. A 56,800 tonner was booked for a trip with scrap from Cont to East Med at around $15,000/d. From BSea a 45,000 tonner achieved $7,750/d dely passing Cannakale for a trip via Red Sea and redely Port Said. As a consequence of the ongoing firmer trend for Supramax loading USG and ECSAm a 57,000 dwt was fixed for short period bais dely Gibraltar redely Atlantic at $10,750/d and a fuel efficient 52,000 dwt agreed $11,850/d for a slightly longer duration.
Handy (USA/N.Atlantic/Lakes/S.America)
Activity was slower also in USG and ECSAm, but this did not prevent freight rates to stay firmer and strengthen a little more. Charterers strongly preferred to fix on aps basis limiting the range of choice to vessels available in the area. A 52,000 dwt was booked at $20,250/d for a trip USG/Cont, a 56,000 tonner achieved $24,000/d for a USG/FarEast and a 57,000 dwt was booked at $12,750/d + 490,000 bb for 3/5 months. US Atlantic was also active with a 57,000 dwt fixed at $15,500/d basis dely dop Baltimoreand two 30,000 tonners fixed at $13,250 and $13,500 daily basis dely USG. Trade from S America was quiet with just a 57,700 dwt fixed at an unattractive $16,000/d basis dely aps S Brazil and redely Algeria.
Handy (Indian Ocean/South Africa)
Activity remained subdued for all sizes in this area. Supramax tonnage available at Benghal Bay is piling up. Charterers involved with Indo trades tend to look more at Spore dely. S Africa market imply longer ballast time and S America seems to have lost its strength and might be no longer a viable alternative. Local trades were further limited with charterers continuously decreasing their ideas.
Banchero Costa and Co Spa
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