March 21, 2016–Marhc 25, 2016 Weekly market report.. Banchero Costa

Thursday, 31 March 2016 16:40:33 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific) 

During last week the Capesize market registered some signs of optimism in Pacific in particular between South Africa and India. W Australia to China remained flat fixing usual low $3/mt and Pacific RV was still in the mid $2,000/d for modern vessels. Trades out of Brazil showed charterers fixing forward stems for May and even June dates at small premiums on the spot: $6.10/mt was reported for full June dates. TransAtlantic RV cargoes paid some higher rates for IWL breaching loadings, but the scenario remained very poor. Period activity slowed and a 169,000 dwt vessel was fixed for about one year in the low $4,000/d for prompt delivery.

Panamax (Atlantic and Pacific)

During last week the market registered an increase in the levels seen in ECSAm despite the market was very quiet in Atlantic towards the end of the week due to Easter holidays: a 76,000 dwt was fixed at high $6,000/d for trip with redelivery Skaw/Passero and a 81,000 dwt got $7,000/d + $200,000 bb for a trip to F East on aps basis and a 82,000 dwt that was fixed at $7,500/d basis dely Glasgow via ECSAm to F East.  In F East a 81,000 dwt was reported at $4,350/d for a NoPac RV basis delivery Xingang and a 75,000 dwt vessel was fixed at $3,350/d for similar business, a tick less than what was reported on a 77,000 dwt fixed at $3,000/d basis dely Hong Kong for TCT within Indonesia. On the period side, a 74,000 dwt was reported fixed for 11/14 months at $4,650/d and a 76,000 dwt unit agreed $5,300/d for 20/25 months.

Handy (Far East/Pacific) 

The shorter than usual list of fixtures showed slight improvements on the rates agreed. Higher demand from China allowed a 55,000 dwt with dely near to the loading port agreed at $5,600/d for a trip via Philippines to China, a smaller Supramax still delivering Philippines fixed $3,650/d for a trip via Indonesia and the same redelivery and an Ultramax got $4,500/d via Indonesia to EC China basis delivery Singapore. Approaching the end of the week another 55,000 dwt did $5,900/d on the same trade with delivery Indonesia. The Indonesia to India coal trade reported an Ultramax done at $6,000/d basis delivery Manila and a non-fancy 56,500 dwt at $5,100/d with delivery Singapore. A similar type fixed $5,650/d on a trip from EC China to MEG and a 2015 built 55,000 dwt delivering N China committed for 8/11 months period with option for further 8/11 months at $6,000/d and $7,000/d for the optional duration.

Handy (North Europe/Mediterranean) 

Fronthaul Supramax grain trade from N Europe reported a rate of $8,000/d agreed both for a fancy 58,000 size performing a trip to F East and a non-fancy 55,000 dwt for a trip to N Red Sea. From the same area the scrap trade to E Med showed two non fancy Supramaxes, the one taken with delivery dop N France was paid $7,000/d while the other agreeing delivery aps Rotterdam was paid $7,750/d. A 39,000 dwt fixed a backhaul from Belgium to USG at $3,500/d. Clinker from E Mediterranean to W Africa was moved on a 21 year old Handymax at $4,375/d basis delivery C Med, same commodity loaded at S Spain showed a 57,000 unit fetching $6,000/d with delivery dop Algeria. Fertilizers from Morocco were loaded on a similar size fixed at $9,000/d basis redelivery at India and via Suez Canal transit. Fronthaul business from B Sea to F East reported two Supramaxes, both done basis delivery Canakkale, respectively at $7,700/d and $8,250/d.

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

Additional interest to move Supramax size stems from USG to the East initially showed $8,000/d paid for trades both to Pakistan or Japan. Later a similar type carrying grains was done at $8,500/d for a trip to F East and an Ultramax got the same rate to carry grains to India. From same area a 55,000 dwt was paid $8,500/d moving grains to WCS Am while transatlantic trade showed two Ultramax moving petcoke to Turkey at $6,750/d and a 55,000 size fixing $5,600/d for the same trade. A 56,000 dwt was fixed at $6,000/d for a trip to S Africa. From S America an Ultramax was fixed for a trip to Portugal at $9,000/d and another one fixed grains to SE Asia at $8,000/d plus $80,000 bb. A Tess 52 type fixed to B Sea at $6,250/d.

Handy (Indian Ocean/South Africa)

These waters showed some fixtures showing a 57,000 dwt done for a short duration coastal trade from W to EC India at $5,500/d, a 58,000 size delivering at S India performing a trip with iron ore via EC India to China at $4,000/d and a Handymax delivering MEG performing a trip to S Africa at $3,000/d for 1st 30 days and $5,000/d for the balance duration.

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


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