Capesize (Atlantic and Pacific)
The Capesize market was characterized by good activity but bearish sentiment for the whole week. Pacific key route West Aus/China passed from 7,25usd to 7,10usd and charterers managed to secure tonnage at lower levels as well from East Australia. Out of South Africa, cargoes from Saldanha Bay to Qingdao paid about 13usd while owners were there in the mid 12usd for stems from Richards Bay to North China. Front haul from Brazil to China was stable in the mid 17usd while Atlantic round activity was limited at lower levels: a standard TA for vessels open Gibraltar now worth about 4500usd.
Panamax (Atlantic and Pacific)
Another week affected by holidays on Friday, which determined a gluey and slow end. Both basin softened, the Panamax index dropped 64 points to 930. Atlantic tonnage lowered the ideas and were more keen fixing short atl rounds which were bidding in the mid/upper 8000 vs owns at mid/hi 9.000. The Pacific had seen very few fresh business on the longer routes, with the Indonesian rounds cargoes still "rouling" the area with rates in the 5500 vs 6500 exchanged on southern China tonnage, and quite few fixtures reported done on aps basis scheme. Something fresh has been seen out of Indonesia direction India. Front haul activity out of ECSA & USG was low, but some new order had been seen for Baltic/Continent deliveries. ECSA/FE route is still active but a lot of orders are in the operators hands and have already back stopped tonnage on; the remaining cargoes are fixable at USD 15/15250 + 500.000 aps ECSA, competition from Far Eastern ballasters is still strong for June dates. Period activity remain scarce and chrts are cautious before booking tonnage in, because the spot market is now enabling better deals for single trip.
Handy (Far East/Pacific)
The larger amount of fixtures reported concluded was mostly due to charterers taking advantage of the lower market rather than any improvement in rates. Supramax backhaul business was agreed at $5600 daily for 1st 70 days and $8500 thereafter, showing a 10pct decline on the 1st rate compared to previous concluded some time ago. Most of the activity was still driven by stems loading out of Indonesia, with Supramax size stems this week being mostly into China, including a larger number of nickel ore cargoes. Rates on this trade were ranging between $5750 daily for a standard type delivery north China to $9500 daily for a similar type delivering a Singapore. Rates from the same area to India where not so different with an $8500 daily agreed basis del Singapore and a $9000 plus $120,000 ballast bonus basis vessel delivering at the loading port. Small Supramax short period interest was available with a standard type reported done at $8500 for 3/% months delivery Vietnam and fancy types said to be worth abt usd $1000 more daily.
Handy (North Europe/Mediterranean)
Activity was limited but stable all around the European coasts. A 33,000 tonner fetched a firm $12,000 daily for a short local trip between Denmark and the UK. From the same area a Supramax carried scrap into the east Mediterranean at $14300 daily, a level which is not so much lower compared to a trip east, as compensation of a shorter duration and the small amount of enquiry available afterwards from the Black Sea market. From southern Europe there was only one Supramax reported fixed for short period at $9500 daily basis redelivery in the Atlantic.
Handy (USA/N.Atlantic/Lakes/S.America)
A full steam market was available from Atlantic Americas both for Suprmax and Handysize owners. Several Supras booked out of US Gulf/north coast South America, showed that prevailing rates for tonnage delivering in the area are in excess of $20,000 daily for eastbound business and in the 18/19599 $ daily range for trips to Europe and west coast central America. From this area a 32000 tonner booked 2/3 laden legs redeliver in the Atlantic at a firm $13000 daily. Activity from South America was a little less intense and concentrating on smaller sizes, with a firm $14500 daily agreed on a modern 29000 tonner for a trip with grains to Algeria, and other voyage fixtures on transatlantic trades finalized at nice levels for owners.
Handy (Indian Ocean/South Africa)
A further slowdown of activity was seen all around this area. Some Supramax size iron ore from India to China is still available for shipment but no fixtures were reported concluded on the trade this week. India iron ore is quiet, owners of tonnage available at east coast India at slightly later dates hope that in view of the monsoon shortly hitting the west coast, there will be more iron ore cargo shifted for loading east coast and helping rates to increase, at the moment besides the small volume of business available, Supramax standard types are said to be worth between $7500/8000 daily for a ECIndia/China trip. A small daily hire of $7000 was agreed for a Supramax delivering at South Africa for a trip with mineral sands to the US Gulf, a rate which becomes even smaller considering that it's almost a 2 months duration employment.
Banchero Costa and Co Spa
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