Capesize (Atlantic and Pacific)
Mixed signals during last week: rates were under pressure in all basins, but a quick spike was registered in Pacific on Thursday. In Pacific rates improved a bit reaching $5.15/mt for early/mid June dates. As a consequence the Saldanha Bay-Qingdao route reached $8.45/mt for mid June dates. Timecharter levels for Pacific RV were around $6,500/d bss standard Capes open mid China and redely Spore/Jpn. Atlantic remained under pressure with a long list of tonnage and only a few cargoes. Bolivar-Rotterdam was agreed around $5.50/mt and TransAtlantic RV around $4,000/d. Tubarao-Rotterdam slightly improved at the end of the week at $From /mt. Brazil the activity was very thin despite some fixtures agreed at low $11.5/mt basis CSN-Qingdao which equates a tick below $10/mt basis standard, C3. Very limited activity for periods, mainly index linked, with an allegedly $8,000/d for 4/7 months basis dely F East early June.
Panamax (Atlantic and Pacific)
South American market continued to drive the market with steady rates for fronthaul and TransAtlantic, fresh requirements were registered for June dates. Trip via ECSAm to F East for June dates was still agreed around $10/$10,500/d + $100/$150,000 bb (equivalent $21.00/mt on voyage bss). North Atlantic market registered a lack of cargoes, although some decent fixtures were done via USG to M East/F East. On the same route, standard Kamsarmaxes got $13/$14,000/d. Quick RV in Atlantic were fixed around $4/$5,000/d with redely into Med and at lower rates with redelivery Cont. After a slow start of the week, the Pacific market was active, but low rates persisted due to market imbalance. Indonesia RV was agreed around $4,700/d and NoPac, on a standard Panamax bss N China dely, was in the $4,500/d. Australian trips were fixed around $4,500/d. Period activity registered some movements with some short period deals rumored around $5,750/$6,000/d on lme and $6,250/d on nice Kamsarmax type. One year duration could be evaluated around $6,750/d.
Handy (Far East/Pacific)
A good number of fixtures confirmed that Supramaxes were largely in line with the previous week and some little improvements were seen on some routes. Coal trades from Indonesia to India were agreed again at $8,250/d with delivery Spore. A nice 58,000 dwt was still fixed at $5,500/d for a trip via Indonesia to Thailand, while a standard 57,000 dwt agreed a better $8,000/d + $190,000 bb with delivery NoPac for a trip back to F East. A 16 years old 46,000 dwt size was fixed at an improved $6,000/d for the first 60 days and $7,900/d balance duration for a backhaul trip from mid China to Europe. Handysize kept enjoying a better market: a 36,000 dwt was reported at $8,000/d from China to Spore and a 28,000 dwt agreed an impressive $7,000/d basis delivery S Korea for a trip via USWC to MEG.
Handy (North Europe/Mediterranean)
Also the North European market remained largely in line with the previous week. A fancy 58,000 dwt was fixed at $9,000/d from UK to E Med, a rate quite similar for a redelivery Spore/Japan. In Med demand for Supramax was still limited and rates quite unexciting. Figures were slightly better for Handysize with a 31,600 dwt fixed for a B Sea to E Med at $5,175/d basis delivery Canakkale. A 33,800 dwt with same dely and loading area got $4,000/d for a trip to Spain and a larger 47,500 dwt fixed a miserable $3,000/d for a trip to Med.
Handy (USA/N.Atlantic/Lakes/S.America)
Little activity was reported from this area. Fixtures from USG were almost entirely for fronthaul. A fancy Ultramax was booked at a fine $13,350/d to carry petcoke to India. An unfancy 55,000 dwt agreed a pretty good $12,000/d to go to F East and a similar unit got $12,750/d for a trip to WCCAm. Supramax rates for trips to Europe were reported improving to the $10,000/d mark. The S American market was unchanged as well: a 56,000 size fixed at $10,300/d plus $125,000 bb with delivery aps Recalada.
Handy (Indian Ocean/South Africa)
Freight levels remained very depressed in this area where the only reported concluded deal showed a fancy 58,000 dwt accepting a horrible $3,250/d basis dely aps WC India and perform a trip to China. Little interest to move coal from S Africa to M East showed rates for Supramax remaining in the region of $7,500/d + $70/80,000 bonus basis aps delivery. Aggregates shipments inter MEG continued to fix Handymax and Supramax vessels at rates between about $4,000/d to $5,000/d. From the same area interests for fixing tonnage to load 15/20,000 tons billets stems to nearby countries to R Sea was still alive.
Banchero Costa and Co Spa
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