May 2, 2016–May 6, 2016 Weekly market report.. Banchero Costa

Tuesday, 10 May 2016 15:40:34 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific) 

A negative week for the Capesize market with rates quickly softening in Pacific and from Brazil. In pacific rates dropped to $3.70/mt for W Australia to China for mid May dates compared with $4.35/mt fixed the previous week. Timecharter business concluded around $5,500/d at the end of the week for Pacific RV. Saldanha Bay/Qingdao was fixed around $6.25/mt for end May dates. From Brazil a lack of cargoes forced owners to revise their ideas and $8.50/mt was agreed basis end May dates and possibly lower rates agreed at the end of the week. In Atlantic only a few deals were concluded with TransAtlantic RV agreed around $8,5/9,000/d. Almost no activity was registered for short period.

Panamax (Atlantic and Pacific)

The ECSAm market registered a slight decrease of rates, but the good amount of orders for the second half of May managed to contain the downturn and Kamsarmax were fixed around $7,250/d + 225,000 bb for F East discharge and $7,200/d for Skaw/Passero redely. Vessels ballasting towards ECSAm were fixed at high $4,000s/d basis India delivery for fronthaul businesses as seen on a 76,000 dwt. A Kamsarmax was fixed at $6,500/d + 150,000 bb from South Africa for a trip to India. In Continent rates softened with a 82,000 dwt reported fixed at $ 9,000/, p , /d basis dely Amsterdam for a trip to F East and a similar units achieving $10,250/d to MEG basis dely Ghent. In F East a 82,000 dwt was reported fixed at $4,650/d for a trip via E Australia to India basis delivery Lanshan; similar levels were also seen basis dely passing Taiwan for trips to E India. NoPac RV on Kamsarmax were fixed a tick above $5,000/d for vessels open N China/Korea range. On the period, a 76,000 dwt was reported fixed for 4/7 months at $5,250/d, just a tick below the levels seen the previous week.

Handy (Far East/Pacific) 

The amount of reported fixtures showed quite a positional market. The activity was enough to prevent rates from falling further, but, in general, allowed no rate improvement. A 58,000 dwt was fixed at $5 250/db i d l S Korea to perform a trip via WC Canada to WC India. On the coal trade out of Indo a 55,000 dwt agreed $4,500/d basis dely China and redely WC India and a large Handymax got $5,500/d for a similar dely, loading CIS Pacific. A 57,000 dwt agreed $5,250/d to carry fertilizers from N China to Djibouti and a 46,000 dwt got $4,250/d to load steels in China to SE Asia. In S China a 57,000 dwt achieved $4,800/d to load coal in SE Asia to China. An Ultramax got $6,750/d to carry nickel ore from Philippines to China and a 58,000 dwt got $2,000/d for a backhaul from China to USG.

Handy (North Europe/Mediterranean) 

Activity was heavily affected by a number of national holidays in these waters, in any case a lack of tonnage promptly available in N Europe hit, in particular, the scrap trade: a couple of units from Baltic to E Med were rumored fixed well in excess of $10,000/d and a 56,000 dwt (non-eco) was reported at $7,150/d basis dely W Africa. In Med and BSea activity was very slow and rates softened. A 31,000 dwt on the grain trade from BSea to Egypt Med agreed only $5,250/d , the same rate agreed by a 18 years old Handymax discharging Adriatic basis redely passing Otranto.

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

Slow activity on the fronthaul trade from USG; as a result a Supramax got $11,500/d basis redely full India. On the same trade a fancy Ultramax agreed $10,300/d basis redely passing S Africa and a larger unit got $10,500/d basis dely St. Lawrence River via US Atl. and redely BSea. From S America an Ultramax achieved only $7,250/d for a trip to Ireland whilst a sister vessel got $8,000/d basis redely Med. On the same trade a 58,000 dwt eco‐type got $9,000/d basis redely Turkey and a 53,000 dwt was fixed at $4 750/d basis dely dop W Africa Fronthaul softened further: a fancy 58 000 dwt agreed $8,200/d + 82,000 bb and a standard Supramax got $8,100/d + 80,000 bb from the same port. An Ultramax achieved $9,750/d for 4/6 months basis dely W Africa.

Handy (Indian Ocean/South Africa)

As usual little demand was registered from this area An Ultramax agreed $4 000/d for the first 50 days and $8,000/d balance on a backhaul from MEG to S America. A 56,000 dwt with the same dely got $5,600/d for a trip toWC India and another one achieved $5,700/d for 3/5 months.

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


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