Capesize (Atlantic and Pacific)
After only one week with positive sentiment the Capesize market faced again the opposite trend with rates softening in both basins. In pacific the standard W Australia/China route saw freight rates dropping again from $7.80/mt to the mid $7/mt of the previous week when the activity was good due to all the majors in the market. Brazil was characterized by Vale who took at least 5 ships, but all index linked which was around $19.35/mt. The feeling for next week is not positive as there is still a considerable number of ballasters. In the Atlantic basin the lack of fresh cargoes pushed down rates to $10,000/d and possibly even below for TransAtlantic RV. Short period activity was limited apart from a 5/8 months period reported at
$26,500/d basis dely end May.
Panamax (Atlantic and Pacific)
During last week optimism started affecting the market especially in North Atlantic with more demand for coal cargoes from US East Coast and Baltic. Quick Baltic RV and longer TransAtlantic RV were both reported at around $6/7,000/d. Demand improved for grain cargoes from ECSAm for end May/beg June dates at levels around $36.5/37 pmt; on TC basis vessels were fixed at around $14,500/d + 450,000 bb (super Eco Kamsarmax got additional $500/d + 50,000 bb premium). From S America there were also interests for TransAtlantic business with vessels reported at $11/12,000/d + 150/200,000 bb. Activity improved also in Pacific with NoPac and Australia RV both settled over $8,000/d. Period market was active as well with a few fixtures reported at around $12,000/d for one year and $11,000/d for short periods.
Handy (Far East/Pacific)
Demand remained quite low after the festivities. Rates flattened down and Supramax activity concentrated in again on spot cargoes from Indonesia. A 56,700 dwt got $10,250/d basis dely Spore and redely N China intention Coal and a similar unit got $11,500/d basis similar dely and redely India. Another similar unit got $11,000/d basis dely/redely N China via Philippines. The week ended with an Ultramax achieving $19,000/d basis dely WCCAm for a trip via WCSAm to India. NoPac rounds were rumored agreed at around $10,000/d.
Handy (North Europe/Mediterranean)
Activity was very quiet in European waters where no fixtures were reported from N Cont despite there were interests to move some ferts cargoes from lower Baltic to S America and Feast. Out of BSea the Handy cargoes of bulk wheat to Med/N Africa kept on at apparently higher rates. From Odessa to Tunisia a fixture was reported at $19/mt that is actually in line with the last dones as the freight compensates slower discharging speed. A Tess 52 got a higher rate fixing at $14,500/d basis dely Turkish Med for a trip via BSea to Persian Gulf.
Handy (USA/N.Atlantic/Lakes/S.America)
Slow demand from Atlantic America put rates under pressure. Out of USG, where demand focussed on TransAtlantic business, a fancy 58,000 dwt was fixed at $11,500/d for a trip to Cont. Local, short trips paid Supramax around $8,000/d from Jamaica to Texas and Handies around $8,000/d from Texas to Mexico. Out of S America a 57,000 dwt that was said to be idle for quite a few days without employment agreed $12,000/d + 200,000 bb for a trip to SE Asia and a 53,000 dwt got only $10,000/d to Med.
Handy (Indian Ocean/South Africa)
Once again no fixtures reported from this area where the small demand was for local trips and smaller stems. A few cargoes of reduced iron were in the market that should bring some activity back, but only to those units allowed to load that cargo.
Banchero Costa and Co Spa
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Internet: www.bancosta.it