Capesize (Atlantic and Pacific)
During last week the Capesize market continued to remain in a lull. The Pacific side was very quiet and range bounded in the low $4’s level for trades from West Australia to China and
also very few coal cargoes were reported on the standard route from E Australia to China.
The scenario in South Africa was more active: Anglo American reported having fixed $7.10/mt from Saldanha Bay to Qingdao, which was $0.60/mt higher compared to its last fixture. Out of Brazil, key route from Tubarao to Qingdao was fixed at an higher $9.30/mt. The Atlantic side was kind of flat around $5,000/6,000/d for a RV for modern ship open in
Continent. Due to higher forward freight values, there was an increased interest for period tonnage.
Panamax (Atlantic and Pacific)
Last weeks levels from ECS Am have been stable with Kamsarmax still fixing at $7,500/d + $250,000 bb for front haul direction basis ECS Am delivery; for a 75,000 dwt vessel, levels have been closer to $7,200/d + $220,000 bb, while for 82,000 dwt vessels basis delivery India levels have been around $5,500/d for similar trip. For trips to Continents via ECS Am levels seen on 76,000 dwt vessels were reported at $7,000/d basis ECS Am delivery, while tick less was done on a 73,000 dwt fixing at $6,900/d for trip redelivery Skaw-Cape. USG area was still strong with a nice Kamsarmax fixing $11,750/d for trip to Spain and an 84,000 dwt seen reported fixed for trip to India at $13,000/d + $300,000/d both bss USG delivery, while a 75,000 dwt was fixed for trip via USG to F East at $9,500/d basis Gibraltar delivery. In Continent an 81,000 dwt was fixed for trip to Spain via Denmark at $6,500/d bss Gdynia delivery. In F East levels have shown a slight increase with NoPac rounds now being fixed on a 82,000 dwt around $5,500/d with redelivery Spore-Japan range and tick lower was done at $5,000/d hire on a 82,000 dwt with delivery CJK for trip via Newcastle to SE Asia. Period levels have been increasing with Kamsarmax fixing around $6,250/d for 1 year period basis delivery F East, also seen reported an 82,000 dwt fixing Tianjin at $6,000/d for 1 year plus second year option at $7,000/d hire. Short period of 4-7 months has been fixed at $5,100/d on a 81,000 dwt basis S Korea delivery.
Handy (Far East/Pacific)
Supramax spot timecharter rates showed an improvement of a few hundred dollars on all trades, bringing a little optimism to owners of tonnage open in this area. The interest of the charterers was concentrated on voyages inside the Pacific waters with a limited enquiry for Middle East directions. Coal trades from Indonesia to China was transported on an Ultramax at $7,000/d basis delivery Singapore and on the same trade a 56,000 dwt delivering at Indonesia was fixed at $7,500/d. Nickel ore from Philippines showed two vessel done at aps delivery basis, an eco-type at $7,500/d and a slightly smaller non-eco at $6,000/d. On the steel trade from China back to this area a Supramax was fixed at $6,500/d and an Ultramax was reported at $6,800/d.Pacific RV was agreed at $7,000/d on a 63,000 new building delivering ex yard Japan and a 57,000 dwt non-eco type got $5,900/d for a similar trip again with delivery Japan. $8,500/d was agreed on a 66,000 dwt delivering at Singapore for a coal
business from Indonesia to WC India; a non-eco 56,000 dwt took a commitment for a 4 to 5 months period at $5,850/d. A 33,000 dwt was fixed for carrying coal from Philippines to China at $4,200/d. A 28,000 dwt agreed a more interesting $6,250/d moving steels from S Korea to Singapore-Indonesia range.
Handy (North Europe/Mediterranean)
Almost no fixtures reported from N Europe with charterers showing preference for smaller stems. Timecharter levels from the area slowed down around $100/300/d for all sizes with more impact on the larger sizes; a 30,000 dwt delivering Gibraltar was fixed at $6,000/d for a trip via N Europe to West Africa. Trading from S Europe was similarly negative, also in connection with a further decrease of the demand for fronthaul stems loading out of the B Sea. From this area two Handysizes were taken for loading long duration steel shipments to the USG: a 34,000 was fixed at $2,250/d for the first 47 days and $5,000/d for the balance and a 39,000 dwt at $2,850/d for the first 50 days and $5,500/d for the balance. A 53,000 dwt delivering at B Sea agreed $9,000/d to do a trip into Bangladesh. A fancy 66,000 dwt delivering at Algeria fixed 3 to 5 months period delivery worldwide at $8,350/d.
Handy (USA/N.Atlantic/Lakes/S.America)
The market from Atlantic America showed positive signs with rates further improving for all sizes, in particular for Ultramaxes. A 64,000 dwt was booked for a trade from USG to India at $1,685/d and a 61,000 agreed $11,000 + $300,000 bb. A Supramax was rumoured to be done at $12,000/d for a trip to Japan and another one moved petcoke from the USG to Brazil at $9,000/d. The firmer trend did not forget the Handysizes with a 32,000 dwt fixed at $10,250/d from Texas Gulf to the Mediterranean. A 55,000 dwt loading out of S America was taken with delivery West Africa at $10,650/d for a trip to India, a 58,000 dwt basis aps delivery did $9,000/d + $200,000 bb for a trip to R Sea and another one fixed $11,500/d + $120,000 bb bss intended redelivery at SE Asia. An Ultramax got $10,600/d from Recalada to the Egyptian Med, a 57,000 dwt fixed $14,500/d from Santos to W Africa and a 35,000 dwt was paid $7,000/d from S Brazil to N Europe.
Handy (Indian Ocean/South Africa)
The week showed an increased interest for loading cargoes from MEG. Two Supramaxes were fixed for a trip to EC India in the low/mid $5000’s, whilst for early July dates charterers had to pay a much higher $6,400/d for a similar trip. Supramax transporting iron ore from WC India to China was fixed at $4,500/d with delivery Mumbai and a 52,000/d did a trip with fertilizers from R Sea to SE Asia for a lower $3,750/d.
Banchero Costa and Co Spa
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