Capesize (Atlantic and Pacific)
Very busy week, especially in Pacific, where the 3 majors (Rio Tinto, BHP and FMG) fixed around 30 vessels with ETA beginning December in West Australia. Consequently there was a rush in rates which brought market up to $10.50/mts basis Port Hedland/Qingdao. On Friday market cooled down and fixed below $10/mts. Out of Brazil the market remained quiet: charterers were there in the mid $20 for the key route Tubarao/Qingdao while owners were reluctant to accept those levels. Fronthaul rates from Canada and US Atl were under pressure and a vessel open in Continent was reported as low as at $24,000/d. Period market was quite busy with a 172,000 dwt vessel fixed for 12/16 months in the mid $17,000/d.
Panamax (Atlantic and Pacific)
Despite all the activity during week 46, in Continent open tonnage remained abundant; this together with a slower flow of fresh cargoes led rates to a further decrease. A few cargoes still available from the previous week were fixed at the beginning of the week, but the Atlantic basin was not supported with enough requirements. The only route that remained as active as the previous week was USG to FEast that registered steady rates for the first half of December in the $17/17,500/d + 700,000 bb. In Pacific activity slowed as well, in particular out of Indonesia with the RVs further softening. More requirements were seen for NoPac and out of Australia, but were not enough to drive rates upwards that remained pretty flat. Inbound and outbound legs to Middle East are still at a premium compared to the rates generally available in Pacific. South Africa and India trades to FEast remained active with fixtures in the low/very low teens. Period activity was again an interesting opportunity for those operators with longer term commitments.
Handy (Far East/Pacific)
Persisting high demand out of SE Asia resulted in a huge number of fixtures concluded at higher rates. Most of the business was Chinese bounded. A 61,000 dwt achieved $15,250/d basis dely EC India via Indo to China. On the same trip a 57,000 dwt got $13,800/d and a 56,700 dwt fixed at $12,900/d with Coal. A 56,800 dwt got $14,750/d basis dely N China to Indo and back to China with Nickel Ore and a 55,400 dwt with better consumption achieved $15,750/d on a very similar trip. Handies finally started to enjoy the bullish market with a 32,000 dwt fixing £13,000/d basis dely Indo for a trip via W Australia to China and a 28,000 getting $10,000/d basis dely Indo for 2/3 laden legs and redely FEast.
Handy (North Europe/Mediterranean)
Traditional charterers' rush to cover the balance of cargo quantities before the end of the year pushed the N European market to firmer levels for all sizes. Several scrap stems were fixed to E Med: a 38,000 dwt was fixed at $14,000/d from Baltic, a 31,000 dwt achieved $17,000/d basis dely Cont via Denmark. Timber trade resumed from Cont to Egypt Med with a 29,000 dwt fixed at $12,000/d basis dely Cont via Baltic and a similar unit got $12,850/d with same dely via Sweden. 25,000 mt of bulk wheat from N France to Algeria were done at $26/mt. Period interest resumed with 3 fixtures concluded at the same level: $13,500/d was the rate for a 57,000 dwt dolphin type for 1 year basis dely Cont, for a 52,000 dwt for 3/5 months basis dely Cont and for a 34,000 dwt for 3/5 months basis dely Baltic. Activity was much slower in Med and BSea with just a fancy 58,000 dwt reported at $20,500/d basis dely Canakkale via BSea to Feast.
Handy (USA/N.Atlantic/Lakes/S.America)
Rates kept quite strong also from Atlantic Americas showing higher rates agreed on all trades. From USG short period interest prevailed with a 57,000 dwt booked for min 3 months at a firm $18,750/d redely Atlantic, a 32,000 dwt got $13,500 for 4/6 months and a 55,400 fixed at around $18,000/d basis dely EC Mexico for min 90 days. Single trips were also firm with a 44,500 dwt agreed at $17,000/d dely NCSAm via USG to NCSAm and a 31,800 dwt fixed at firmer $22,000/d basis dely EC Mexico via USG redely Cont. A 57,000 dwt was rumoured on subjects at $28,000/d basis dely USG redely Spore/Jpn. A Japanese controlled Supramax agreed $20,000/d basis dely spot Algeria for a trip via USG to FEast. Fewer reports were available from S America were the market is still lower, but improving. A 56,800 dwt was fixed at $15,750/d + $455,000 bb bais dely Vitoria via S America to Bangladesh with a cargo of sugar. A 57,970 dwt got $14,750/d + $350,000 bb basis dely S Brazil for 3/5 months period redel worldwide.
Handy (Indian Ocean/South Africa)
Again, no fixtures reported from this area where some chartering enquiries are said to be available at very low levels, not interesting for owners. There were rumours of a few fixtures concluded towards the end of the week when charterers agreed higher levels, closer to owners' ideas, but were strictly kept confidential.
Banchero Costa and Co Spa
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