Capesize (Atlantic and Pacific)
Another week marked by strong volatility. After a very positive beginning of the week the Capesize market faced a sudden slowdown that is somehow worrying for the starting week. In the Pacific basin rates peaked at $8.25/mt with good volumes of activity. In the second part of the week rates softened a bit and on Friday fixtures were agreed below the $8/mt. Despite the activity was limited, Fronthaul rates improved for mid July dates and $23.5/mt was reported on this trade. In Atlantic the marked spiked at $14,250/d, but due to the lack of cargoes rates for TransAtlantic RV closed at $11,000/d. Period activity was almost missing apart from rumours about a 6/9 months agreed at $20,500/d basis dely beginning of July.
Panamax (Atlantic and Pacific)
After quite a long time the Panamax index is finally moving up again with rates improving in every basin. Transatlantic RV is now at about $6/7,000/d for vessels open in Cont or West Med. Fronthaul is steady at about $11,750/12,250 + 175/225,000 ballast bonus, but there are not many cargoes available for spot tonnage. In Far East the depressed market finally turned at the beginning of last week. A new flow of fresh requirements for Indonesia, Australia and NoPac RV provided some support and fixtures basis dop dely finally reappeared. NoPac RV was done at levels close to $7,000/d, Australia RV got closer to the $7,500/d. In the last days of the week also Indo RV improved up to $5,500/d. Period activity was particularly good with short periods at around $9,000/d and 1 year TC again over $10,000/d.
Handy (Far East/Pacific)
The positive trend seen during the previous week was confirmed last week. At the beginning a standard 56,700 dwt that was reported at $8,500/d basis delivery Kosichang for a trip via Indonesia to S China and a smaller, more fuel efficient, 52,000 dwt with a similar delivery agreed at $8,000/d with redelivery Thailand. It was also interesting to see an 18 years old 49,000 dwt done at $9,000/d with delivery S China for 2 laden legs in the Far East. A 53,500 dwt got a firm $11,500/d basis dely Spore via Indonesia with coal to India. Increased demand in particular for coal was extremely beneficial for spot rates and induced charterers to start taking again tonnage available in EC India from where a 57,000 dwt was booked at $6,000/d for an Indonesia RV. Improved sentiment affected also short period interests. A fancy 58,800 dwt got $9,750/d for a 3/5 months basis dely N China. An Ultramax was fixed $11,500 basis delivery ex yard China for 3/5 months. At the end of the week a 56,700 dwt was fixed at only $8,750 for short period reflecting the non eco-type engine, the worse delivery and the slightly smaller size.
Handy (North Europe/Mediterranean)
Only Handysize fixtures emerged last week from these waters. A timber cargo from the Baltic to the East Med achieved $7,550/d on a 29,000 dwt basis dely Baltic redely Skaw. Other charterers were saying to have evaluated a similar type around $4,000/d for a trip to USG. A 33,600 dwt dely S Spain got a nice $8,000/d level to perform 2 laden legs within Atlantic waters. Chartering activity was otherwise quiet from Med and BSea areas. The latter showed a 26,400 dwt reported basis aps dely at an extremely low $2,500/d for a trip to Libya. A Supramax was rumored from same area and again with aps delivery at $3,500/d for a trip to Morocco.
Handy (USA/N.Atlantic/Lakes/S.America)
The small amount of reported fixtures from Atlantic Americas was partly explained with 4th July hugely celebrated independence day in US which started freezing the Atlantic market since mid-week. In spite of this the reported fixtures showed to keep levels similar/slightly improved to the ones agreed the previous week. A 56,900 not fancy type got a nice $9,000/d from Atlantic Colombia to the US East Coast. A very similar type got $7,000/d from same delivery area to Brazil while a more fuel efficient 52,000 dwt received a quite interesting $11,000/d to move coal from Texas to Chile.
Handy (Indian Ocean/South Africa)
Ramadan carried on bringing additional lackluster in an area where the trading was already slow. Handysize and Handymax tonnage available in the Arabian Gulf/Red Sea range kept fixing and failing looking for a solution to get away from this area, including voyage business cargoes much smaller than the tonnage capacity which at least would bring a partial compensation for leaving these waters in a short time. Supramax had some ore luck due to increased demand to load coal ex S Africa which firmed up the trend and showed a 50,000 dwt fixing a more attractive $9,250/d + $165,000 bb basis delivery E Africa for a trip into China.
Banchero Costa and Co Spa
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