March 14, 2016–March 18, 2016 Weekly market report.. Banchero Costa

Tuesday, 22 March 2016 23:05:19 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific) 

Rates in the Capesize market slightly increased, especially in Pacific, but this mainly reflects the rise of bunker prices. In Pacific miners had to pay around $3.20/3.30/mt for cargoes on the standard route from West Australia to Qingdao on early April dates, whilst the Saldanha bay/China was traded at $4.60/mt. Timecharter levels remained around $2,500/d for Australian RV. Rates from Brazil improved for forward cargoes with $2,800/d agreed for dely China end of March, a TCT via Brazil equivalent to mid $6,000s. In any case the market remained under pressure for prompt dates with $5.40/mt agreed basis end of March laycan for Tubarao/Qingdao. Some activity was registered for Brazil to UKC cargoes with $3.20/d fixed basis mid April dates. Atlantic kept weakening with $700/d agreed basis 172,000 dwt open UKC for TransAtlantic and a modern 180,000 dwt was fixed at $600/d basis short Narvik voyage. Some fixtures done from BSea to F East with $6.70/mt agreed on Yuzhny/Qingdao route basis free port disbursements and no address commission.

Panamax (Atlantic and Pacific)

Last week the market had another downturn from ECS Am for fronthaul rates with a Kamsarmax fixing at $6,600/d + $160,000 bb and a 75,000 dwt fixed for similar trip at very low $6,000/d + $110,000 bb. Stronger rates were seen for Atlantic trips fixing close to $7,000/d for Skaw-Passero redely on 82,000 dwt providing owners an alternative to trip East. On Trips to F East a 81,000 dwt fixed at $7,300/d basis Gibraltar for trip via NCS Am. 
From Continent owners were able to achieve close to $9,000/d on a 75,000 dwt for a trip from St Petersburg to F East via Spain while in B Sea an 87,000 dwt was reported fixed at $7,000/d basis Port Said for a trip to F East. A 81,000 dwt was reported fixed for 2 laden legs basis dely Civitavecchia at $5,000/d and redely Skaw-Passero. In F East a 76,000 dwt was fixed at $5,000/d for dely Subic Bay via Indo to Japan close to what another similar vessel fixed for a NoPac round basis dely Lianyingang . A trip via Australia on 82,000 dwt was fixed at $4,600/d basis dely China and redely Spore/Japan.

Handy (Far East/Pacific) 
 
The Supramax market confirmed the positive trend showing slightly improved rates, despite the number of fixtures reported was smaller. Activity was again higher for spot business to M East. Indo coal export to India showed a 57,000 dwt non-eco type done at $6,250/d bss dely Spore and a similar type delivering closer to the loading port agreed at $6,000/d. A third vessel with a different cargo got $7,600/d from Spore for a trip via Malaysia to R Sea. On China destinations rates were still much weaker: a vessel dely Thailand accepted $2,900/d to perform a trip via Indo to China followed by a smaller unit with better consumption done at $4,000/d dely Vietnam for a trip via Indo and China redely. A 66,000 dwt new building Ultramax delivering ex yard Japan fixed a NoPac RV at $6,250/d and a 57,000 dwt non eco-type took a commitment for a 3 to 5 months period at $5,250/d.

Handy (North Europe/Mediterranean) 
 
Chartering interests were still lively for spot business loading out of Cont. Two 56,000 vessels carrying scrap trade to Turkish Med were done at $7,000/d and $7,250/d, followed by a 53,000 size fetching a firmer $8,000/d likely due to positional reasons as the cargo was spot. On the same trade a 28,000 dwt was fixed at $6,000/d and a 35,000 size got $6,500/d to load timber on a similar trip. Concluded fixtures for spot business loading from B Sea on the grain trade to N African and European ports showed only a 32,000 dwt done at $4,500/d with redely Tunisia, but several other stems were rumoured to be covered on confidential terms at firmer rates. Increased figures were also seen on fronthaul business where an Ultramax dely Cannakkale got $8,950/d for a trip to F East and, later during the week, a 56,000 dwt non eco type fixed on similar terms $8,000/d.

Handy (USA/N.Atlantic/Lakes/S.America) 

Again more fixtures done loading out of S Am. During the first part of the week a few Supramaxes were reported done bss aps dely to EU destinations between $6,500/$7,500/d depending on vessel’s specifications and redely area. Bulk sugar stems from the same loading area were covered on Supramaxes at rates ranging between $8,000/$8,500/d bss redely W Africa, and an Ultramax got $6,000/d plus $200,000 bb with redely at R Sea. From S Am a 55,000 dwt fixed $9,500/d for a trip to WCC Am and a 50,000 dwt was taken for a 4 to 6 months duration period commitment at $6,500/d with WW redely. Charterers’ interest to move Supramax stems to WCC Am was larger from USG where a few vessels were fixed in the $9,000/d region. Activity for owners was otherwise scarce, TransAtlantic trade was covered in the $5,000/d level for trips to the E Med and a 56,000 dwt non-eco type spot vessel could get and unattractive $7,250/d on a trip to Japan.

Handy (Indian Ocean/South Africa)

The fixture concluded through the week showed a more balanced volume of enquiry. S African coal shipments to India were covered on timecharter basis with aps dely. At the beginning of the week a 57,000 dwt was reported at $9,500/d, but that was incorrect, later an Ultramax was reported done at $10,500/d followed by another 57,000 dwt getting $11,000/d despite the smaller size and less attractive consumption. A larger Ultramax dely S Africa was done for a long duration trip to USG at $5,250/d for first 50 days and $6,750/d for the balance. Basis WC India dely another large Ultramax was fixed for a trip via MEG to EC India at $7,000/d, while a similar dely on a 53,000 dwt got $5,000/d on a trip to the F East. A 55,000 dwt fixed a trip from R Sea to India at $7,000/d.

Banchero Costa and Co Spa 
Email: research@bancosta.it 
Internet: www.bancosta.it


Similar articles

Iron ore prices drop by over $9//mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials