Capesize (Atlantic and Pacific)
The Capesize market started very quiet last week due to a holiday in Singapore on Monday. The general trend was flat, with a steady flow of fixtures out of West Australia and slightly higher freight rates reported for coal routes from the East. South African charterers, on the contrary, managed to shave some cents from last done levels - $8.00/mt was the lowest rate reported for Saldanha Bay/Qingdao cargo. An increased number of vessels were seen offering for fronthaul cargoes via Brazil and even from the Cont, putting some pressure on rates - Tubarao/Qingdao settled at $10.50/mt. The Atlantic was marginally up for round: high $5.00/mt was fixed for Bolivar/Rotterdam 2H June dates. There was still a lack of fronthaul cargoes from North Cont.
Panamax (Atlantic and Pacific)
The Atlantic Panamax market had a decent week with rates improving, mainly from ECSA, due to a lack of ships and some fresh requirements. ECSA to F East was reported at over $10,500/d + $150,000 bb, equivalent to more than $22.00/mt on voyage basis. USG rates were also higher than the previous week, with a nice LME Kamsarmax fixed at $13/$14,000/d for a trip to the Middle East/F East. Vessels from the Continent were also fixed from the USG, NCSA or ECSA to F East at over $10,000/d bss dop. There was also positive sentiment for transatlantic RVs, with owners hoping for better rates within the next week. It was a week of slow trading in the Pacific market, where a difference was seen between firm rates fixed in the South East (Indonesia RV was fixed at around $5,000/d) and in the North, where enquiries were still scarce and the list of tonnage on offer grew. Consequently rates eased, around $ 4,250/d for a standard Panamax. Similar levels were seen out of Australia, reporting around $4,500/d bss dop China. There was some period activity, with numbers for about 4/6 months at around $5,750/$6,000/d for LME and $6,250/d for a nice Kamsarmax. 1 year was seen at around $7,000/d.
Handy (Far East/Pacific)
In the midst of slow activity, a 56,700 dwt fixed a backhaul trip to North Europe at a touch better $6,500/d 1st 60 days, $7,500/d balance duration. Coal from Indonesia to India still showed $7,000/d agreed on a Supramax basis delivery Singapore and redelivery East Coast. $8,250/d + $225,000 bb was agreed for a 61,300 dwt delivery NoPac redelivery Singapore/Japan. The firmer rate was not just due to the larger vessel size but also due a firming trade for owners compared to alternatives. A larger demand for Supramaxes to load ex North F East/Australia was said to involve some tonnage fixing at around the $7,000/d mark with delivery F East.
Handy (North Europe/Mediterranean)
Larger demand for Supramaxes to load grain ex B Sea to the F East trade ended in a reported list of vessels done between $8,000/d and $8,750/d depending on delivery and specifications. Handysize grain from this area to Med and North Africa was slower but levels remained unchanged. No reports were available for business loading ex North Europe and rates were described as similar to the previous week.
Handy (USA/N.Atlantic/Lakes/S.America)
Chartering enquiry was down around the Atlantic American coasts, negatively influencing South America loadings more than those from the USG. A 55,600 dwt fixed at $10,500/d from ECSA to Skaw/Passero, followed by a 50,000 dwt agreeing only $9,500/d to carry steels from the same area to North Europe. A nice $9,000/d was agreed on a large 57,000 dwt to load the same commodity into the Caribbean. $9,000/d was agreed for a 38,000 dwt to do Recalada/Med, reconfirming that handysizes held a better market from South America. For supramaxes, tonnage loading from USG/NCSA range, a 56,900 dwt got only $9,000/d and a slightly smaller size got a better $12,000/d although she delivered inside the Mississippi River.
Handy (Indian Ocean/South Africa)
More information about the local Supramax trades emerged this week - a 56,500 dwt was fixed at a more reasonable $8,500/d for a trip ex Yemen to EC India, even if the higher rate was inflated by the war zone and piracy area trading. A much lower $4,800/d was agreed on a 58,000 dwt performing Qatar/WC India trip. Another similar type was said to have done around $5,500/d from Oman to SE Asia but business was afterwards said to fail. A 56,000 dwt carrying minerals into the F East from E Africa agreed $9,900/d.
Banchero Costa and Co Spa
Email: research@bancosta.it
Internet: www.bancosta.it