Capesize (Atlantic and Pacific)
Last week started with a positive sentiment that suddenly disappeared approaching the weekend. In the Pacific basin all the miners were in the market supporting the W Australia-Qingdao route around $4.30/mt basis mid June dates. Timecharter delas were fixed several times around $6/7,000/d depending on specifications and position. There was almost no activity from Saldanha Bay to China with freight rates around $6/mt. Some activity was reported from Brazil to China with $8.50/mt agreed for end June/early July dates, whilst the Brazil to UKC route was fixed in the region of low/mid $4/mt. In Atlantic the usual lack of fresh cargoes kept the activity very low with some fixtures done for fronthaul with $12,750/d
agreed basis dely UKC for a timecharter trip to F East and a low $10.25/mt done basis Seven Island/Qingdao second half June. Short period activity was almost absent, the only fixture was rumored around $7,500/8,000/d basis dely China ppt.
Panamax (Atlantic and Pacific)
The Panamax market remained pretty stable last week. A large amount of tonnage ballasting to ECSAm prevented the market from improving. ECSAm-F East was agreed between $7/,7300/d + 200/230,000 bb basis mid June dates; some activity for early July dates saw charterers bidding around $4,750/5,000/d for LME basis dely retro India or Spore. Rates for
Santos-Qingdao were agreed around $16.75/17/mt basis second half June or early July dates. ECSAm TA RV was quiet with charterers bidding around $7,000/d (no ballast bonus) for LME basis redely Skaw/Full Med and owners asking around $8,000/d basis Skaw/Passero. Limited activity in Baltic Sea with rates around $5,000/d for quick RV to Skaw/Gibraltar and
slightly higher for Passero redely. Murmansk/F East was agreed around $9,000/d on LME basis dely Cont. Trombetas/Qingdao saw bids at $20.25/mt with not much offer on voyage, and owners mainly rating TC between $8,500/d and $9,500/d basis dely Gibraltar or Cont. Some interests for units spot in Good Hope as they are cheaper alternatives than the steady South Brazil/Argentina market. US EC/India was agreed in the mid/high $8,000/d on Kamsarmax basis dely Gibraltar. The Pacific was a bit more under pressure with rates decreasing both for RV and trip to India. There were rumors of ships fixing at $4,000/d or even below rather than just ballasting to ECSAm. Slightly higher levels (in the low $5,000/d)
were agreed on Kamsarmax basis dely Korea via NoPac with grains to Pakistan. Short period around $5,000/d on a 75,000 dwt basis dely Philippines, while a 82,000 dwt was fixed at $6,100/d for 1 year basis delivery F East.
Handy (Far East/Pacific)
Supramax freight levels did not change much from the previous week despite a considerable amount of fixtures that covered almost all the usual trades. Steel cargoes from N China to SE Asia were booked on a 57,000 dwt at $5,400/d, nickel ore from Philippines to N China was loaded on a similar vessel at $5,750/d basis dely dop Taiwan. Local trades in Singapore/S China range showed a few vessels fixed between $4,750/d and $5,250/d depending
on delivery and vessel’s specifications. Two Australian RV were reported: a 56,000 dwt fixed at $5,500/d basis dely Indonesia for a trip to China and an Ultramax basis dely Spore at $6,000/d for a RV to Vietnam. Limited news was reported on the Indonesian/Indian coal trade, only a few vessels were booked from N China into the Middle East. An eco-ship 58,000 dwt got $5,850/d basis redely WC India with an option for trading EC India at 4,640/d
basis redely Penang. A 57,000 dwt performed a trip with slags via Japan to the ME Gulf at $5,000/d and another vessel of the same size was fixed at $6,000/d from China to Red Sea. A 58,000 size fixed 3/5 months period at $5,750/d basis dely S Korea and a non-eco 57,000 dwt was reported done at $5,700/d for 4/6 months basis dely Vietnam.
Handy (North Europe/Mediterranean)
Scrap cargoes were traded from N Europe to the E Mediterranean with a 19 years old Handymax agreed at $8,500/d via Baltic and another very similar vessel loading Cont was fixed at the same rate; also a 33,000 dwt was done via Baltic at $8,300/d. In the same area, a non-eco type Supramax was fixed for short period at an unexciting $7,000/d basis redely Atlantic. From the B Sea was reported a slow start of the week and low rates due to a large amount of tonnage available. Most of the interests were for smaller units and a 31,000 dwt was fixed $5,000/d basis dely Black Sea and redely Egypt. On voyage basis, a charterer with Handysize business at the end of the week managed to book one dollar below the freight guidance he originally set. During the weekend additional grains requirements were quoted fresh.
Handy (USA/N.Atlantic/Lakes/S.America)
The S America market kept steady levels throughout the entire week. In USG the feeling of a possible decrease was suddenly disproved and rumors about a possible improvement still need to be confirmed. An Ultramax agreed $7,000/d + $45,000 bb from S America to the Med, another one was fixed at $8,500/d for a trip to S Africa. A Handysize got $7,250/d for a trip to Norway and another one went to Algeria at $6,250/d. A 57,000 dwt agreed $9,000/d + $90,000 bb for a trip from Recalada to Bangladesh. From USG the week started with an Ultramax done at $11,000/d with Sulphur from Mississippi River to Morocco. Based on a similar delivery a 56,000 dwt got the same rate to carry petroleum coke to Turkey and a Tess52 was done at $12,000/d basis redely Japan. Then a large 63,000 dwt was fixed at $15,250/d to China and a 61,000 dwt got $15,000/d basis dely Spore/Japan range.
Handy (Indian Ocean/South Africa)
In this area very low activity was reported. A Supramax coal shipment was fixed from S Africa to MEG/India range at $9,250/d basis aps/dop dely/redely. A 19 year old Handysize was fixed at $5,000/d for a trip from MEG to Bangladesh, with the same delivery a 53,500 tonner agreed a $5,400/d rate for a 3 to 5 months period commitment
Banchero Costa and Co Spa
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