Capesize (Atlantic and Pacific)
Capesize market remained in a lull for almost the entire week, even if a better sentiment was registered on Friday, especially in the Pacific basin where the standard voyage from West Australia to China was reported at $4,85/mt. Iron ore cargoes from Brazil to China were fixed down to low $10/mt for the key route from Tubarao to Qingdao, while coal cargoes from Colombia to Atlantic was paid low $5/mt basis loading Bolivar to Rotterdam. It was noticed some short period activity: for about 3 about 6 months, modern vessels were fixed at $9,000/d. More and more owners stopped their boats waiting for better rates.
Panamax (Atlantic and Pacific)
Panamax market continued its negative trend and another depressed week was expected. A large presence of ballasters on S American market contributed to maintain rates further under pressure, and a standard Panamax was fixed at $7,000/d + $200,000 bb for a trip to F East bss Cape of Good Hope and around $7,500/d + $75,000/d for a TransAtlantic RV. Coal cargoes from Atlantic America were fixed on voy bss to the Continent around high $8's whilst the time charter for a trip to F East was around $12,000/d + $200,000 bb. Fronthaul cargoes from N Continent continued to be scarce and rates dropped to $10,000/d on a standard LME and around $4,250/4,500/d for RV with Continent redelivery. B Sea market was quite slow and a standard RV was reported around $5,750/d. In the Pacific basin scenario was pretty similar with most of the charterers bidding on aps bss. NoPac and Australian cargoes were both fixed at equivalent of $5,000/d bss dop China. The Indo RV paid a premium for longer duration, therefore India destination was paid $4,500/d + $45,000 bb against $4,000/d + $40,000 bb agreed for the China redely. Period activity was still scarce and the value of a Kamsarmax open F East was around $6,500/d for a period of about 4/8 months, and around $7,400/d for 1 year duration.
Handy (Far East/Pacific)
The Supramax spot market registered a quite negative trend for owners, with the already low daily time-charter rates lowering further of a few hundred USD due to smaller fresh enquiry. Coal stems from Indonesia back to India were now covered basis delivery aps at loading port with rates ranging from $5,500/d to $6,250/d, depending from vessel’s specifications and positional issues. From the same loading area, short trips to S Asia- China range were agreed between $3,000/$4,500/d including a nickel ore stem ex Philippines which was reported at $4,200/d. Similar levels were seen fixed on the other way round, from N China to SE Asia. At the beginning of the week a 53,000 dwt delivering Indonesia was taken for an Australian RV at $5,600/d, but these figures were no longer available for owners afterwards. A 28,000 tonner delivering at Singapore was fixed at $3,750/d to carry salt from W to EC Australia, and a similar size performed an Australia RV at $4,000/d. A Handymax booked a long last trip with fertilizers from Central China to WCS America at $4,500/d. Charterers were NOT keen TO entertain any period deal.
Handy (North Europe/Mediterranean)
A weaker freight market affected all the European loading areas. A 56,000 dwt fixed from Marmara Sea to MEG at a lower $9,500/d while a similar vessel agreed just $2,900/d for a backhaul trip from the B Sea to USG. From the same area a fancy 58,000 dwt fixed a trip to Bangladesh at $10,000/d and it could result a better deal for owners due to the possible delays at discharge. Also the Handysize grain trade from B Sea to Med ports was negatively affected with rates lowering to the $4,500/5,000/d levels. A similar trend was registered for business loading out of N Europe, where a Supramax was fixed for a trip from lower Baltic to E Med at a low $8,000/d and about 40,000 tons of wheat loading from the same area were fixed on voyage bss to Kenya at an unattractive $21.75/mt. Handysize showed better resistance to the negative trend; a 32,000 dwt took a backhaul to USG at $4,850/d and a 28,000 dwt was fixed at $7,000/d with E Med redely.
Handy (USA/N.Atlantic/Lakes/S.America)
The bad mood of the market struck also EC Americas, from where fixtures were reported concluded at lower levels for all sizes and trades. On the customary route from S America to Far East, Supramax market showed a good 52,000 size done at $10,250/d + $125,000 bb and a less fancy 56,700 dwt achieved at $8,650/d + $94,000 bb. In the meantime two others 52,000 dwt were fixed at $8,000/d plus $60,000 bb for a trip to Africa and at $9,400/d flat rate for a Mediterranean destinations. Within a smaller demand for tonnage to load out of USG/NCS America, an Ultramax was booked from Atlantic Colombia to N Europe at $10,000/d, and a 55,000 size fixed $7,000/d for a trip from USG to Brazil. Near to the end of the week a 50,000 size was reported done at a lower $6,500/d for a trip with petcoke from USG to the Turkish Med.
Handy (Indian Ocean/South Africa)
Most of the local industry didn’t show signals of fresh activity and the market followed the same trend. A fancy large Supramax was booked with fertilizer for a backhaul business from Qatar to USG at $2,500/d. A standard 57,000 size delivering at West Coast India achieved $5,000/d to carry salt into the F East, a fancier similar size unit delivering at MEG agreed a quite better $6,750/d to perform a trip with fertilizers into Australia (even if Australia fertilizer trading rules are limiting the choice on the fixable tonnage).
Banchero Costa and Co Spa
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