Capesize (Atlantic and Pacific)
The positive sentiment was evident in the Capesize market during last week. This was driven in particular by strong iron ore demand by China. Good volumes were reported both from West Australia and from Brazil. In Pacific tonnage remained very tight and charterers had to pay up to $14/mt and possibly over that level for prompt dates from West Australia to China. Out of Brazil $29.50/mt was reported from CSN terminal to Qingdao basis 20/30 Dec laycan, but there were not many ballasters left for December dates. Charterers had to pay up for TransAtlantic RV with equivalent of $37,000/d and $38,000/d fixed. Fronthaul from North Atlantic was less active, but rates were still buoyant with fixtures agreed at over $40,000/d. Still on fronthaul a vessel from Constanza got $45,000/d. Finally period market was very active with tonnage agreed at about $23,000/d for short period and $20,500/d for 11/14 months with delivery prompt.
Panamax (Atlantic and Pacific)
The week opened with strong, positive sentiment: short tonnage lists in Atlantic, especially for prompt tonnage, and the fairly high amount of cargoes either for Atlantic trip and trip out employments. USG/FE is now rated $25/26,000/d dop Continent, dely aps USG is now at $20,000/d + 1mill bb (which is around 56 $/Mt on voy bss). The single TransAtlantic RV was in the upper teens and the two legs are in the mid/upper teens. Pacific rounds was in the mid teens region with owns looking with interest at ECSAm cargoes, that are in the $18,000/d + $800,000 aps and $13,000/d dop Middle East. Trips via India or S Africa to Singapore/Japan are between $13,500/14,000/d depending on duration. Short and one year period are largely traded in the $12,500/13,500/d levels in Pacific while some deals have been done between $14,500/15,000 in Atlantic.
Handy (Far East/Pacific)
Slower activity in this area did not affect rates and confirmed Indonesia as the leading exporting country. A Handymax was fixed at $15,000/d basis China RV. Charterers started fixing the Handysize tonnage available EC India to load Indo and discharge FEast. A 33,000 dwt was fixed at $8,500/d basis dely Kakinada via SE Asia to China; shortly after a slightly larger unit got $10,500/d to perform a similar business. Supramax period interest was still alive at stable rates. A 56,000 dwt agreed $13,750/d for 4/6 months basis dely China and a larger unit got $12,500/d for12 months.
Handy (North Europe/Mediterranean)
No fixtures on fronthaul were reported from BSea or Cont, but very firm rates reported on other routes showed how strong the market still is in the area. A 56,000 dwt dely Gibraltar achieved a great $23,000/d for a trip via Spain to WAfr, a 53,000 dwt got $17,000/d from BSea to Portugal and a smaller Handymax with dely Greece was fixed at $12,000/d to carry steels to S America. From Cont, a 55,000 dwt was paid $14,000/d basis dely France via Baltic to USG. From Morocco a 50,000 dwt got a firm $24,000/d for 2 laden legs redely Atlantic.
Handy (USA/N.Atlantic/Lakes/S.America)
This area remained the best spot for owners. The list of reported fixtures was a bit shorter, probably due to charterers' efforts to limit the excitement, efforts that so far were unsuccessful as rates kept growing considerably together with owners' optimism. A few Supramax were booked to load USG to FEast: a standard 56,700 dwt that got $33,000/d was followed by an Ultramax that achieved $20,000/d + a terrific $760,000 bb and then a fancy 58,000 dwt got $35,000/d. From USG a Supramax a 50,000 dwt got $31,000/d for a trip to S Brazil and a 32,500 dwt was fixed at an exciting $19,200/d to perform a min 40 days trip to S America or N Europe. Less news came from S America were the market however is still strengthening. For local trips a 57,000 dwt got $27,000/d basis dely N Brazil. A 56,000 dwt got $26,000/d basis dely WAfr for a trip via N Brazil to Persian Gulf. Period interest also improved: a 52,000 dwt got $21,000/d for min 100 days trading redely ww, a ballaster 56,000 dwt got $16,000/d basis dely retroactive Algeria and redely ww, a 57,000 dwt achieved $20,000/d for 3/5 months redely Atlantic.
Handy (Indian Ocean/South Africa)
No fixtures reported from the area, but rumours say the market might start moving again. An Ultramax open S India was rumoured at good money on voyage basis to perfor a full mineral cargo to China. Demand from India is still very small, but some fresh enquiries are seen from Persian Gulf where tonnage available on prompt basis is scarce.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it