Capesize (Atlantic and Pacific)
The Capesize market finally registered a positive week with rates that increased in all basins. In Pacific high volumes and bad weather conditions in China delayed several vessels forcing charterers to pay up to $4.75/4.80/mt; approaching the end of the week a vessel was even rumored fixed at $5/mt bss West Australia to Qingdao for early/mid December dates. TC rates agreed on Friday were in the region of $9,500/d for Australian RV. The usual route from Saldanha Bay was less active however $7/mt was done for mid December dates. Activity out of Brazil improved and so did rates up to $9.50/mt for the standard route from Tubarao to Qingdao for mid December dates, whilst on TC basis a nicely described vessel was fixed at $16,000/D dely Port Elizabeth prompt, equivalent to $8,500/d compared to Baltic type basis China/Brazil/China. In Atlantic the lack of prompt vessels pushed up rates and $7,500/d was agreed for TransAtlantic RV whilst fronthaul basis dely UKC was fixed at an improved region of $13,750/d and $14,500/d. Very low activity for period deals with a vessel rumored at $7,250/d for one year TC basis dely China prompt.
Panamax (Atlantic and Pacific)
The Panamax remained at the very low levels of the previous week despite a pale positive sentiment that was felt during the middle of the week. In any case rates kept their negative trend. Standard Baltic RV was fixed around mid $4,000/d for Mediterranean destinations and about $3,000/d for of Continent redelivery. Trades from ECS America were very slow for beginning December dates with vessels fixed aps without bb around $5,500/6,000/d for TransAtlantic RV and about $9,000/d + $85/90,000 bb for trip to F East. Cargoes from USG were reported at $7,000/d aps no bb on lme and $10,000/d + $90,000 bb on a standard Kamsarmax for F East redelivery. In the East the scenario was very similar with vessels fixed around $4,000/d + $30/40,000 bb aps Indonesia for redelivery China. NoPac and Australian RV were reported at levels equivalent to $3,500/d bss dop China. Period trading was still slow, shorter durations reported around $5,250/d and 1 yr around $6,000/d.
Handy (Far East/Pacific)
Tonnage availability kept rates under pressure in these waters and allowed charterers to fix many more units at rock bottom levels. Coal from Indonesia was fixed on Supramax at around $5,000/d to India and $3,500/d to China. A 52,000 dwt was fixed on a backhaul trip to USG via Australia basis dely Shanghai at $1,300/d and another Supramax got $1,750/d for a S Korea straight to USG. Higher rates were achieved for European destinations: a Supramax got $4,000/d for 65 days and $6,000/d for the balance. Ultramax kept fixing periods, at lower levels, a fancy 63,500 dwt got $6,100/d for one year period. From WCSAm a fancy 58,000 dwt got $10,500/d for a trip to MEG and several Handies were fixed to F East at rates between $6,500 and 8,000/d depending on their size.
Handy (North Europe/Mediterranean)
No official fixtures reported out of B Sea and Med, however there were rumors that large grain stems from BSea were booked at lower levels for discharge Red Sea. Limited demand from N Europe with a number of Handysize stems to E Med fixed around $6/6,500/d. A 55,000 dwt got $6,500/d for a trip with clinkers to W Africa basis dely Rotterdam.
Handy (USA/N.Atlantic/Lakes/S.America)
At the beginning of the week an Ultramax got $10,450/d + 145,000 bb from ECS Am to F East, then a 58,000 dwt got $10,000/d + $100,000 bb and was followed by a 61,000 dwt that achieved $9,500/d + 95,000 bb. A 56,000 agreed $7,200/d for a trip to East Mediterranean. From USG a 63,000 dwt was fixed at $9,500/d to carry woodpellets from Texas to Continent, similar to what a 58,000 dwt from the same area got for a trip to WCC America. Another similar unit got $8,000/d for a 2/3 laden legs basis redely Atlantic.
Handy (Indian Ocean/South Africa)
Activity cooled down again. Enquiries remained unfixed until they got dead spot, in many cases favoring owners interests, that is the case of a Supramax that was booked for a steel trade from MEG to N Red Sea at one dollar more than charterers ideas. There are still interests for Supramax stems from MEG to USG for which charterers keep evaluating tonnage around $1,500/2,000/d bais aps dely. Charterers ideas are around $9/9.5/ mt to move 50,000 mt of coal from S Africa to N Red Sea or Pakistan.
Banchero Costa and Co Spa
Email: research@bancosta.it
Internet: www.bancosta.it