November 9– November 15, 2013 Weekly market report.. Banchero Costa

Thursday, 21 November 2013 10:37:10 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific)

The market softened throughout the all week. The Pacific basin was quite busy, W Australia/China though went from $9.55/mt on Monday to $8.60/mt on Friday. TCT teetered from $19,000/d for quick Pacific RV to $15,000/d. Atlantic remained very quiet with a couple of vessels fixed at $20,000/d for RV and at $13.25/mt for Brazil/UKC. Fronthaul was still active, WC Canada fixed at low $26/mt and WAfr at $24.50/mt. Backhaul from Richards Bay to Cont were concluded in the low $10/mt.

Panamax (Atlantic and Pacific)

Softening market encouraged charterers to improve their fixture activity. Some owners are now expecting that the amount of business concluded will shorten the list of ppt tonnage and bounce back freight rates. Christmas period at the doors and tonnage list still available in some areas, Cont in particular, are not helping the rebound. Atlantic market saw Kamsar route very active as well as TA RV with several cargoes, coas and tender in the market either for US Atl and USG loadings. RV from Cont was offered between 13/14,000/d depending on trade and redely, while dely aps USG was at $14,000/d + $400,000 bb levels. Some operators managed to get rates for 2 legs Atlantic in the $14,000/d basis dely Gibraltar. Baltic RV traded in the very low teens. Pacific remained in a swinging range between $11/12,000/d. Ballasting to Atlantic was still fairly attractive since rates from ECSAm and USG were in the $17,000/d + $700,000 bb. Overall, despite the amount of activity, rates softened and the index lost 156 points closing at 1409 on Friday.

Handy (Far East/Pacific)

A very large number of Supramax fixtures were reported for spot employments. Most of these fixtures were for Iron Ore, Nickel Ore or Coal cargoes from SE Asia to China or to India. Freight rates for single trips did not increase, but remained quite steady. Tonnage with dely near the loading port was booked in the high teens, RV from China were in the mid $15,000/d level. Coal exports from Indonesia were concluded in the $12/13,000/d level basis dely EC India/China to China/EC India.A Tess 52 was booked at $12,000/d for NoPac RV basis dely N China. An Imabari type 61,000 dwt got $3,500/d for 65 days + $12,000/d balance of the voyage for a backhaul basis dely N China. Short period was active at rates in the $12,500/d. A 53,000 dwt got $14,500/d for 2/3 laden legs basis dely Spore. A 56,700 dwt got $10,700/d for 1 year commitment bais dely N China.

Handy (North Europe/Mediterranean)

Scrap activity from Cont dried up and only one fixture was reported for a fancy Supra in the area: short employment at $13,500/d. Activity slowed also in BSea where a Dolphin type was fixed slightly below th $20,000/d mark basis dely Turkish Med to Feast with Grains. A smaller but fancier 52,000 dwt agreed $23,000/d basis dely Marmara via BSea to China with Iron Ore.

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

Activity suddenly improved in S America for FEastern destinations with Grains. A large number of fixtures were reported on this trade on Supramax and Handymax mostly basis dpo dely WAfr at improved rates, largely between $15,000 and $15,750/d. Basis delivery on the loading coast a 57,900 dwt achieved $17,000/d + $90,000 bb basis dely aps Santos for a trip to Wafr. A fancy $34,000/d achieved $10,500/d basis dely S Brazil via N Brazil to Norway and a similar unit got $13,500/d dely Puerto Plata for 2/3 laden legs basis redely Atlantic showing that S America is now taking in better consideration this size. From USG and US Atl the smaller number of deals reported did not prevent the market to firm. A 55,000 dwt got $16,000/d basis dely WAfr (Angola) for a trip via USG to China, a 56,700 tonner dely US Atlantic got $30,000 daily for a trip to Cont and a Handymax 48,800 dwt fixed basis delivery EC Mexico via USG to WCCAm got a firm $24,500 daily.

Handy (Indian Ocean/South Africa)

The market in this area was again slow without fresh enquiries, but the small amount of tonnage left available avoided rates to fall. A 36,800 tonner booked a trip from Persian gulf to EC India at a reasonable $13,500/d while a similar type took a low $11,500/d with dely EC India for 2 to 4 months employment.

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


Similar articles

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Daily iron ore prices CFR China - March 26, 2024

26 Mar | Scrap & Raw Materials

India’s SEML subsidiary secures mining rights to iron ore block

26 Mar | Steel News

Major steel and raw material futures prices in China - March 26, 2024

26 Mar | Longs and Billet

Mexican iron pellet production up 2.4 percent in January

25 Mar | Steel News