Capesize (Atlantic and Pacific)
The Capesize market once again remained quite flat. The beginning of the week was promising with prompt ships fixed at $8/mt for Western Australia/China voyage. South African cargoes paid mid $13/mt from Saldanha Bay and mid $12/mt from Richards Bay to Qingdao. The Atlantic market was slightly more attractive than the previous week since the miner's strike in Colombia came to an end. However rates moved only a tick up with Atlantic Round fixed at mid $5,000/day. Fronthaul cargoes out of Brazil were limited and reported at levels still in the $17/mt.
Panamax (Atlantic and Pacific)
A positive week for the Panamax market both in the Atlantic and in the Pacific basins. A good number of fixtures, at nice rates, were concluded on the ECSAm/FEast route. The USG/FEast trade was slightly less active. Also the TransAtlantic was very active with freight rates heading north and expectations are for this trend to continue. The Pacific basin was less active compared to the Atlantic, with less enquiries in the market, but still a lot of fixtures were reported both on the spot and on short/medium periods. This lowered tonnage availability and calmed down owners rush to fix.
Handy (Far East/Pacific)
Larger demand for Supramaxes kept this area busy again. Most of the activity was on coal cargoes from Indonesia to India. On this trade the availability of units close to the loading area penalized rates for candidates with delivery North of Shanghai that mostly agreed rates below $10,000/d level. This also allowed owners to fix higher rates for N. China redelivery. Round voyage rates were always over the $10,000. It was unusual to see a nice 53,000 tonner remaining open spot Australia without employment and ending up fixing at $9,300/d dop basis for a trip via Indonesia to India. A nice 55,000 tonner agreed a firm $15,000/d delivery at Surabaya for a trip via Indonesia to Thailand. A 58,000 tonner delivery N. China agreed $6,350/d 1st 60 days and $9,859/d thereafter for a backhaul to WAfr. A 42,000 tonner with delivery S. China was fixed at $6,500 daily 1st 60 days and $8,500/d thereafter for similar backhaul employment. Short period interest kept well alive on these sizes with a number of vessels agreed between $8500 and $11,000/d depending on the actual size, specification and delivery port.
Handy (North Europe/Mediterranean)
Reports of concluded business kept lacking even if some activity was said to be going on. Handysize grain stems kept moving from N. France to N. Africa, with tonnage rumoured fixed around $ 21/22 pmt level. Volume was smaller probably to limit the congestion at the already crowded discharging ports. Supramax index for trip Continent to FEast showed an improvement of abt $700/d. In Med/BSea range activity was limited. Grains from BSea to Med destinations kept moving on Handysizes at slow speed with rates unchanged from previous levels. Supramax trip BSea to FEast improved of about $600/d.
Handy (USA/N.Atlantic/Lakes/S.America)
Despite a slow start the market out of Atlantic Americas kept being the most attractive for owners. Last week all reported activity was for TransAtlantic business with the exception of a modern 38,000 tonner fixed at $12,750/d for a trip from Brazil to WCASAm. A 53,000 tonner agreed $18,500/d for a trip from USG to Egyptian Med and was followed by a stronger $23,000/d agreed for a 61,000 tonner from same area to Turkey. A 24 years old 41,000 dwt still fetched a very decent $16,500/d for a trip ex Miss River to Libya or Turkey. A 28,800 dwt probably coming out of Cuba agreed a firm $13,250/d form NCSAm to carry nickel ore to Greece. No fixtures were reported from S. America, but the index for tonnage loading out of the area increased both for Atlantic and FEast destinations, probably fixing parties managed to keep their deals confidential.
Handy (Indian Ocean/South Africa)
A lack of info affected the area, however there are still strong rumours that rates for local trades have firmed up especially for Supramax. Charterers involved with these trades/size are said to be struggling to repeat last dones. Owners of larger Handies prefer to ballast to S. Ameria unless they see better levels to remain in the area. A nice 55,000 tonner agreed a nice $10,000/d rate dely S. India for a 4 to 6 months employment. EC India to China iron ore trade showed increase of over $0.50/mt.
Banchero Costa and Co Spa
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