March 28, 2016–April 1, 2016 Weekly market report.. Banchero Costa

Tuesday, 05 April 2016 16:45:17 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific) 

Finally a positive week for the capsize market, with firmer rates in all basins. In the Pacific, all the miners were in market and rates improved up to $3.35/mt for West Australia eta mid-April. Timecharter rates were trading in the region of around $3,000/d for TransPacific round voyages. The Saldanha Bay/Qingdao route was fixed at $4.70/mt basis second half of April. Thanks to more fresh tonnage out of Brazil, the C3 route was fixed in the region of $6.50/mt for the second half of April, whilst Brazil to UKC cargoes were done at around $3.20-$3.40/mt. Although a still noticeable list of vessels open in the UKC/Passero range, the reluctance of owners to move at these low levels has forced charterers to pay more, with $2,500/d fixed for TransAtlantic. Period activity was almost absent, although $5,500/d was agreed for a 1 year voyage, basis delivery Far East spot.

Panamax (Atlantic and Pacific)

Levels in ECS Am keep increasing with an 82,000 dwt fixing around $7,500/d + $250,000 bb for trip to F East basis ECS Am while for trips redelivery Skaw-Passero owners rating close to $9,000/d bss aps, also seen reported a 75,000 dwt ballasting towards Gibraltar fixing trips to F East via ECS Am at $8,000/d basis delivery Gibraltar. From Continent owners can consider also ballasting towards ECS Am or USG as seen on a 75,000 dwt fixing retro Rotterdam for trip via USG to F East at $9,900/d while for trips to Med an 82,000 dwt was reported having fixed $6,000/d bss Immingham and similar levels seen also on a 82,000 dwt fixing tick over $6,000/d for trip Amsterdam to Saudi Arabia. Strong ECS Am market also has increased levels in S Africa with vessels now able to fix $6,000/d + $150,000 bb for trip to India while trips within Indonesia were seen close to $3,600/d similar to what NoPac RV are being fixed on an 82,000 dwt. On the period front an 84,000 dwt was seen reported for period basis Rotterdam for 4-6 months at $5,750/d.

Handy (Far East/Pacific) 

A considerable slow down of the coal export from Indonesia to India in connection with a general smaller demand so far didn’t show to bring a negative affection to the previous week rate levels. A Supramax fixed a trip from Philippines to EC China at $4,500/d, while from same area a similar type did a backhaul trip to USG at $2,000/d for 1st 65 days duration and $5,000/d for the balance, basis dely Thailand. Another Supramax size delivering at Japan was agreed to perform a North Pacific round voyage at $4,750/d, near to another one getting only $4,900/d basis delivery Australia on a trip with iron ore to China.

Handy (North Europe/Mediterranean) 

The nearby Easter holiday celebration froze a good portion of the Western World activity, Europe was specially quiet with tonnage reported fixed only basis loading ex B Sea Christian Orthodox countries. A 57,000 dwt delivering at Lebanon fixed a better $8,500/d to perform a trip via B Sea to F East. Two very similar types were fixed basis delivery Turkey still to load from B Sea, one at $7,500/d basis redelivery F East and the other at $8,000/d basis redelivery Bangladesh.

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

The amount of fixtures concluded for loading from Atlantic America was still large enough. From USG interest for fronthaul Supramax shipments was larger, a couple of 57,000 dwt fixed to India at $8,500/d, a 52,000 dwt got $8,000/d on a trip to China and two other Supramaxes were booked to WCS Am in the mid $8,000/d level. TransAtlantic trade showed a 52,000 dwt fixed to Morocco at $6,000/d. The larger size trade from S America to S Africa carried on at improved rates with an Ultramax fixing $10,000/d and a 53,000 size getting $8,750/d on the same trip. Transatlantic trade showed another Ultramax taken on delivery NWC Africa at $6,000/d to perform a trip via ECS Am to Med.

Handy (Indian Ocean/South Africa)

Chartering demand from the Middle East suddenly tried up again, with very small volume of chartering enquiry pushed around and only a report for a 57,000 size fixed at $10,500/d aps S Africa to perform a trip with coal to WC India.

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


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