Capesize (Atlantic and Pacific)
The Capesize market remained flat last week. Volumes of fixtures were quite high especially in Pacific, but not enough to push rates higher. West Australia/China cargoes paid low $7/mt for Index dates while charterers had to pay high $7 for prompt loading. From East Australia was noticed a good volume of enquires and rates soared a bit. On the South Africa to Far East trade rates were largely flat while from Brazil was quiet and offer of tonnage increased. The Atlantic side remained calm and possibly softer as charterers managed to secure tonnage for round via Colombia in the low/mid $3,000/day for a vessel open in Continent.
Panamax (Atlantic and Pacific)
The market dropped almost 7% last week since both basins suffered a lack of prompt enquiries. TransAtlantic rates softened: Fronthaul out of USG and USEC remained poor and ECSAm/FarEast flat, but with scarce activity. Charterers were temporizing for end June/July cargoes and only spot orders were fixed at the current market levels in the low $13,000/d + 300,000 bb. Pacific basin continued to suffer the lack of Australian and NoPac cargoes leaving only two options to owners: ballast towards ECSAm/USG or fixing short haul Indonesian business. The second option saw rates rapidly falling with charterers offering lower and lower for aps deliveries due also to ballasters competition from North China. Out of ECSAm TransAtlantic routes remained active, but saw slightly softer rates and some vessels in ballast towards ECSAm decided fix S African cargoes to FarEast instead of competing in ECSAm. Period activity remained very limited with such a weak spot market
Handy (Far East/Pacific)
A couple of concluded fixtures were reported this week for Supramax tonnage loading ex US NoPac: a 56,000 tonner with aps delivery agreed $8,000 daily plus $325,000 ballast bonus and was followed by a 58,133 dwt fixed at a better $8,750/d basis delivery Japan. Most of the Supramax activity was still concentrated loading out of SE Asia, mostly to India in connection with the monsoon season approaching. Rates were similar to the previous week, with tonnage dely near to the loading port fixed in the low $10,000/d and similar tonnage delivering dop N China still getting levels in the $6/7,000 daily region. A 58,000 tonner fixed at a good $7,500 daily rate basis dely dop Tuticorin for a trip with coal via S Kalimantan back to India. There were rumours of a 52,000 tonner fixed early June dates ex Dalian for a trip to WAfr in the mid $5,000/d for the first 65 days and $9,000 for the balance. Smaller Handies kept firmer with a 32,000 dwt fixed at $8,000/d dely Shanghai for 3 laden legs redelivery Spore/Jpn and a 29,500 tonner fixed at $10,250/d basis dely WCSAm for 2 laden legs redely worldwide. Another one, the Western Lucrezia, 37,400 dwt open spot S Korea was rumoured fixed for a short local tirp at $6,500/d.
Handy (North Europe/Mediterranean)
No fixtures available from Cont, the volume of business was limited, but the list of tonnage available is getting shorter, this may support rates. Only two concluded fixtures reported from S Europe, both for 2/3 laden legs employment within Atlantic. Supramax tonnage available BSea was evaluated $13,000/d for trips to FarEast, but demand from the area was very limited.
Handy (USA/N.Atlantic/Lakes/S.America)
A 20,000 tonner achieved a firm $10,000/d to perform a short trip from Recalada to Santos, even if the vessel was ballasting from Luanda the total revenue could still be considered as an acceptable backhaul business to position the vessel in a good area. From the same area Oldendorff was said to book a 57,000 dwt on subjects to move bulk sugar from Santos to Jeddah at $8,800/d basis redely Port Said. The Mairouli 53,506 dwt was rumored agreed a rate below$14,000/d + $325,000 bb for a trip from Rio Grande to FarEast. Cargill fixed a Supramax from ECSAm with grains to Algeria at $15,500/d. The Indian region will get hit by monsoons is expected to send away tonnage from the area, considering the S African market, not very active, a number of ballasters will look S American market which may be affected negatively. Even if the feeling was that activity was slowing down owners still enjoyed a good market from USG where a 55,650 tonner booked a trip to Japan with grains at $21,000/d and a tess 58 was believed to be on subjects for a trip to E Med at about $21,500/d, quite a firm levels if subjects will be lifted.
Handy (Indian Ocean/South Africa)
Demand was still small. Less interest to load iron ore from Iran and the forthcoming monsoon season slowed considerably the chartering interest for loading out of this region. Tonnage available is struggling taking little money for loading ex SE Asia or S Africa or just ballasting away. No concluded fixtures were officially reported. Noble was rumored to have committed a 55,000 for dely aps Durban early June at $9,200/d + $300,000 bb for a trip East.
Banchero Costa and Co Spa
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