Capesize (Atlantic and Pacific)
The Capesize market was trading sideways during the whole week. In the Pacific the W Australia/China route remained in the low/mid $4/mt with the exception of couple of cargoes on prompt dates fixing in the high $4/mt. Saldanha Bay/Qingdao cargoes fixed around $7/mt while from Brazil charterers were able to shave some cents out of the $10/mt. In Atlantic Bolivar/Rotterdam cargoes paid about $5/mt for April dates and activity was quite negligible. By the end of the week, charterers from the B Sea were quite active fixing tonnage for April dates around mid teens for good described vessels.
Panamax (Atlantic and Pacific)
Last week was very quiet for the Panamax market. The Atlantic market is still very slow both from ECSAm and USG. Atlantic RV has registered some shortage of vessels and fronthaul rates were largely preferred. At the beginning of the week a Panamax lme agreed $11,600/d + $160,000 bb for a trip from ECS Am into F East. During the second part of the week rates increased, especially for later dates: May dates were fixed around $12,000/d + $200 000 bb Few fresh requirements were registered from the Continent; Baltic RV was fixed around $5,000/$5,500/d for a Panamax bss N Cont dely. During the end of the week a bit more activity was registered for trades out from USG and USEC for TransAtlantic RV but mostly fixed on voy bss. On F Eastern market there were limited enquiries and a long list of tonnage available; rates were pushed down. NoPac RV was fixed at $5,500/d bas Korea/Japan delivery, while the Australian RV for standard type bss dop China was agreed closer to $4,500/d. Period trading was still of interest with few fixtures reported open anyway WW recon $7,000/$7,250/d for short period and around $500/d more on same ships for year duration.
Handy (Far East/Pacific)
Slower activity has not yet had any major impact on rates, although the amount of available tonnage seems to have piled up. Sulphur from the NW Pac to Brazil was fixed at $9,250/d on a 55,000 dwt, which may on her next employment benefit from the firm S American market. $6,400/d was agreed on a similar type vessel delivering Taiwan for a COA ex SE Asia to EC India. A 45,000 dwt got $6,750/d from N China via the NoPac to Japan, similar to the level a Supramax would earn on the same trade. An unchanged $6,100/d was paid to a 57,900 dwt delivery near to the loading place for a coal shipment to S China.
Handy (North Europe/Mediterranean)
The Easter holidays slowed down a lot the chartering demand in the Atlantic. Reduced scrap volumes from N Europe to E Med resulted in a larger amount of available tonnage against fixable cargoes generating some negative influence on rates, with a 50,000 dwt earning a lower $9,100/d delivery Belgium. Rates resisted better for smaller sizes, with a 31,000 dwt done at $8,500/d on a similar trip. Chartering interest from the Med and BSea dried up further. Grain stems from the BSea to the Med showed charterers putting in strong efforts to reduce the freight levels further.
Handy (USA/N.Atlantic/Lakes/S.America)
Rates did not seem to suffer from the upcoming Easter festivities, with the week ending on a positive note and HandySize rates expected to improve. From S Am a 56,000 dwt got $11,250/d plus $150,000 bb for a trip into the East. An Ultramax took a firm $11,500/d to W Med. Also quite interesting was the $11,000/d paid to a fancy 58,000 dwt delivering W Africa for a trip with grains via Santos into the RSea, excluding the piracy area. Out of the USG another Ultramax was fixed at a firm $13,500/d on a trip to the F East ad Danish operators took a 48,000 dwt for 2/3 laden legs redelivery at $8,650/d.
Handy (Indian Ocean/South Africa)
The amount of tonnage available for fixing in the region was not very large however owners of open ships faced troubles finding employment without ballasting away. Charterers trying to take advantage of inter MEG aggregate shipments were heard to be facing owners' strong resistance to the low rates.
Banchero Costa and Co Spa
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