Capesize (Atlantic and Pacific)
Quite a disappointing week for Capesize with rates decreasing for the whole week. West Australia/China voyage went from mid $8s to high $7. Voyage with coal from Newcastle to Zhoushan for mid July dates was fixed at $11/mt. Out of Brazil some more activity was noticed, however levels remained below $21/mt basis Tubarao to Qingdao for 2nd half July laycan. Also from North Atlantic there was more activity during the first part of the week; owners got around $15,000/d for Transatlantic RV, but at the end of the week, charterers were aiming just low $10,000/d for the same employment. Period market, in comparison to the spot, is still paying good premiums; vessels with prompt delivery were reported fixed at around $22/23,000/d.
Panamax (Atlantic and Pacific)
Another negative week for the Panamax market with rates falling further. Transatlantic was around $2,000/d for vessels open in Continent or Mediterranean sea; some fixtures were made on voyage basis with very poor time charter equivalents. Fronthaul rates were below $13,000/d + 300,000 bb from South America and just a tick over from USG. Over the last two weeks a few fixtures were reported for loadings during the last quarter of the year on the USG-China route at $49/50 pmt. In Pacific vessels' list is still long and requirements were unable to absorb the supply. A little support came from NoPac grain cargoes, but rates agreed on aps basis were around $4,5/5,000/d dop equivalent. Similar levels for Australia RV. Most of the fixtures were done from Indonesia with owners forced to agree aps deliveries and rates around $5/6,000/d + 50,000 bb. Period activity improved, but rates were around $9,000/d for short period and little above $10,000/d for longer periods.
Handy (Far East/Pacific)
Activity was still very slow. Equiries polarized on spot Supramax requirements from SE Asia to India with coal and to China with nickel ore. Agreed TC rates showed consistent reduction on the Indonesia/India trade, whilst those on Philippines/China trade resisted better the negative trend. A Supramax was rumored agreed at $9,000/d + 300,000 bb and other similar tonnage agreed around $10,300/d for 3 to 5 months period. No reports available for Handies that however are said to resist better the poor market trend. A 28,000 dwt was rumored close to $9,000/d for a short trip from N China to SE Asia and a similar unit was discussed at mid $7s for 2/3 laden legs within the area.
Handy (North Europe/Mediterranean)
Improved interests for Handy and Supramax out of lower Baltic Sea helped owners to keep rates at the level of the previous week. A 29,000 dwt agreed $9,750/d to carry ferts to SE Asia. A 33,000 was fixed at $9,250/d from Sweden to E Med with scrap whilst a 45,000 dwt got $8,000/d on the same trade. A 56,000 dwt got $12,500/d basis dely aps Baltic Russian port to carry minerals to India. No fixtures reported from BSea. Grain exports were quiet as well as demand for large tonnage. Backhaul to US Atlantic was worth $2,5/3,500/d for Supramax depending on the duration of the employment. In general the lack of enquiries a steel charterer evaluated a 58,000 dwt $1,500/d for trip from Ukraine to Lybia, owners were looking for $3,000/d to do it...
Handy (USA/N.Atlantic/Lakes/S.America)
Larger demand for Supramax out of USG left TC rates basically unchanged for TransAtlantic business; rates to FEast were quite positional. Trips to E Med remained around the $9,000/d mark, from NCSAm to Continent rates were a couple of thousands dollar higher. USG to Feast trades showed $13,300/d for a 53,000 dwt, $15,000/d for a 55,000 dwt and $17,000/d for a 61,000 dwt. A 32,500 dwt agreed $6,250/d from USG to Nigeria, Handies rates are unchanged in Atlantic. From S America the activity was much slower with only one fixture reported, a Ultramax got $12,500/d to carry grains to Algeria.
Handy (Indian Ocean/South Africa)
Once again activity was very quiet. A 56,700 dwt agreed $11,000/d plus $150,000 basis delivery S Africa to perform a trip to Persian Gulf/India. The rate on its own is not bad, but demand remained very thin
Banchero Costa and Co Spa
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