November 15– November 21, 2014 Weekly market report.. Banchero Costa

Tuesday, 25 November 2014 13:51:03 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific)

Capesize market showed some buoyant sentiment in Atlantic which led charterers to pay $30,000/d and a tick above for round. Activity in general was good, apart from fronthaul where there were not many cargoes and where levels were quite disappointing. From Brazil on prompt dates rates were under pressure as the week was coming to its end: $22/mt was fixed for Tubarao/Qingdao at the beginning of the week, but there were owner willing to repeat same on Friday. In Pacific market was range bounded between $8 and $9/mt. Saldanha/Qingdao voyages rates were closer to $14/mt.

Panamax (Atlantic and Pacific)

Very slow week for the Atlantic market with rates basically unchanged. USG/F East rates were around $14/14,500/d + 400/450,000 and some fixtures were reported at even lower levels. Competition from Ultramax and Supramax was strong. Not so many fresh enquiry for TransAtlantic, there was still some activity for quick RV which was concluded around $8/9,000/d for redely Cont and $2/3,000/d premium for Med redel. In East the market remained a quiet especially for spot positions N China/S Korea range because of weak NoPac demand; some fixture were done around $9,5/10,000/d for LME type and around $10,250/d for eco Kamsarmax. Good activity for Indonesian coal exports; China RV was fixed at $9,000/d and $10,500/d for India. Australia RV was still around $9,5/10,000/d. Improved activity was seen in S Africa with several fresh enquiries to India and F East and some backhaul to Atlantic or Continent. Spot tonnage in PG/India range was still strong and rates were firm, but not flying, around $9,000/d + bb. Also period was very quiet, some units were fixed for 4/6 months at $9,000/d bss delivery MEG and a tick over basis dely F East. No fixture were reported for longer period.

Handy (Far East/Pacific)

Fresh demand for Supramax spot trades, on top of the usual coal from Indonesia to India, firmed up rates. Demand for Chinese discharge saw an Ultramax fixing $9,800/d from Spore via Indo. This was followed by a 57,900 tonner done at $10,250/d from Philippines to S China and a 56,700 dwt got a quite firmer $10,000/d from Spore via Malaysia. This new trend positively affected Indonesia/India coal trade where another Ultramax did a quite firmer $10,500/d basis dely N China and a smaller/unfancy 56,900 dwt got an impressive $10,800/d basis dely China. By the end of the week another fancy 58,000 dwt agreed $11,150/d basis delivery China redely S India. A 57,900 dwt took a repositioning trip with steels from N China to Indonesia at $9,800/d, a level hardly obtainable on the opposite route recently Short period recently. was slower with Supramax in the $9,000/d range and Ultramaxes around $10,000/d.

Handy (North Europe/Mediterranean)

The amount of reported fixtures was small from these waters. An unfancy 56,600 dwt got $11,750/d basis dely Iceland for a trip via Cont to Turkey seemed to show that rates on the scrap trade were improving. From BSea rates were less attractive, a fancy 58,000 tonner got $9,500/d for a trip to S Africa and a 56,600 dwt achieved $12,000/d for a trip to E Africa. Similar types were said to be worth mid/high $9,000/d for short trips via Red Sea and redelivery Port Said.

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

Firmer Panamax market in USG induced charterers to switch their stems into Supramax whenever possible; this generated a rate escalation through the week for these sizes. Two units were reported to F East at a quite firmer $17,500/d. For TransAtlantic trade reports started showing a 56,800 dwt at $15,000/d to Italy; afterwards a 50,400 dwt got $16,000/d to Med and a 51,500 dwt fixed $17,000/d from NCSAm to Adriatic. An Ultramax was reported at $20,500/d from USG to Turkish Med, but was said to have failed on subjects. Smaller Handies enjoyed a similar positive trend; two vessels were booked form USG to WCCAm, one at $13,000/d with delivery aps and another one at a still good $9,500/d considering that she was taken on delivery at ECCAm. A 36,000 dwt agreed $8,500/d for a trip via US Atl to UK showed the benefit from the current trend (one week earlier this rate would have been available only for loading out of USG). Very little news available from S American market from where A Supra was rumored at $12,500/d + 250,000 to go East.

Handy (Indian Ocean/South Africa)

Small demand, again, and no news of concluded fixtures. Supramaxes were said to be able get around $9/9,500/d + 150,000 bb basis dely S Africa and redelivery either India or Spore/Jpn range. Iron ore export from India and Iran were quiet. Charterers involved with inter PG aggregates were trying to chase prompt tonnage at very low voyage freights, which most f the owners turned down; their strategy appeared more oriented into getting their tonnage out of the area.

Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it


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