October 26, 2015– October 30, 2015 Weekly market report.. Banchero Costa

Wednesday, 04 November 2015 10:56:01 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific) 

Capesizes market registered another negative week with rates still under pressure in all basins. In Pacific, rates softened reaching $4.75/mt for a trip basis ETA W Australia mid November to China, meanwhile timecharter was fixed around $10,000/d for South China delivery or $9,000/d for a delivery in North China. Rates on the standard route from Saldanha Bay to Qingdao slipped accordingly with $8.20/mt, and few cargoes were apparently fixed, meanwhile some activity was registered for trades from Richards Bay to India where some vessels were reported done at $9,750/d + equivalent bb. The fronthaul, due a still noticeable presence of ballasters coming, registered rates agreed in the low $11/mt for trades from Tubarao to Qingdao bss second half November dates. In the Atlantic basin a very quiet market was registered with a scarce presence of cargo available and owners pushed to accept around $5.50/mt for cargoes on the route from Bolivar to Rotterdam for mid November dates or $8,500/8,000/d on timecharter bss. Period activity continued at very slow levels except for some deals done at index linked bss one year duration. 
 
Panamax (Atlantic and Pacific)

In Atlantic market, Panamax registered a slight improvement in grains and minerals, especially in the North, but the majority part of negotiation were quickly concluded and charterers had a good number of in house vessels behind their cargoes, so the rates remained under pressure. The Baltic RV was around $5,500/5,750/d for Med redelivery whilst the quick RV in the North was reported even below $5,000/d. Trades from ECS America were mostly fixed on aps bss around $8,500/d +$85,000 bb for TransAtlantic and around $11,250/d + $125,000 bb for a trip to F East. In USG some fronthaul cargoes were reported fixed but rates remained around $12,000/d + $200,000 bb aps bss for trip to the East. In the Pacific basin a quite good number of ships have lost their subs and, as a consequence, rates remained mostly flat with a propensity for the aps bss, equivalent to $4,500/d for Indo RV to China and around $5,500/5,000/d for Australian and NoPac RV, depending from descriptions. Period trading was not the priority; rates for short period were reported below $7,000/d on a Panamax open in China and around $7,400/d on lme for 1 year duration.

Handy (Far East/Pacific) 

A reduced chartering demand did not actually affect further the rates which, perhaps are already low enough, and only resulted into a rambling trend of the rates through the week. 
The Indonesia to India coal trade was still a good element to take the market temperature: going through the week a 57,000 dwt was fixed at $7,500/d basis Indonesia/WC India, a similar size got $6,500/d on same terms and, in the end of the week, a slightly larger boat got $6,000/d after a 55,000 dwt reported fixed at better $7,700/d. Australia RV showed a 29,000 dwt carrying alumina done at $4,000/d back to SE Asia. A 56,800 dwt carried nickel ore from Philippines to China at a low $4,750/d basis delivery Thailand and backhaul to N Europe with agri-prods showed a similar size accepting $3,600/d. A fancier 57,500 dwt delivering at Japan was taken for 4/6 months period at $7,000/d.

Handy (North Europe/Mediterranean) 

Scarce activity in connection and lacking of fronthaul gave a further negative push to Handysize and Supramax rates. From N Europe the sole Supramax reported done was a 56,000 dwt agreeing only $4,000/d basis delivery UK for a long trip carrying fertilizers via Barentz sea to USG. A Handysize scrap cargo from UK to Turkish Med paid a very low $11.00/mt while about 25,000 tons of bulk wheat was booked from N France to Algeria at $13.50/mt. A 33,000 dwt delivering at Continent fixed a trip via lower Baltic into W Africa at $7,500/d, better than the $7,350/d agreed on a 57,000 dwt to carry clinkers from W Med to Nigeria. From B Sea a 21 years old 43,000 size did a trip from B Sea to Italy at only $5,000/d.

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

In spite of a scarce amount of chartering interest, rates showed to resist for single trip loading from the USG. A fancy 58,000 dwt was booked for a trip to China at $14,000/d followed by a non-eco type 55,800 dwt agreed at $13,500/d for a trip into Japan. Afterwards in the week an Ultramax was fixed at $14,000/d to Spore-Japan range, followed from a smaller unit done at $15,000/d. TransAtlantic rates for these sizes were described as slightly improving. The S American Supramax market showed vessels agreed at $10,000/d for redelivery Adriatic Sea and $9,750/d for carrying grains to Algeria. Supramax fronthaul trade was more active with 7/8 boats reported fixed amongst which a standard 56,000 dwt went to Bangladesh at $19,750/d plus $150,000 bb, a 53,400 dwt fixed to F East at $10,000/d plus $100,000 bb and another 56,700 dwt non-eco type fixed to the MEG at $9,250/d plus $90,000 bb.

Handy (Indian Ocean/South Africa)

No fresh cargoes in the area and demand of export from major producers continued to lack. The only fixture reported was a fancy 58,000 dwt agreed at $7,100/d for a trip with delivery and redelivery in MEG. Charterers involved with trades across the Indian Ocean piracy area were said to try force owners to perform their business basis Direc routing without any extra insurance compensation.

Banchero Costa and Co Spa 
Email: research@bancosta.it 
Internet: www.bancosta.it


Similar articles

Turkey’s Tosyalı and Abu Dhabi-based AD Ports ink deal for logistics collaboration

26 Jan | Steel News

Latest freight rates from Banchero Costa - November 22, 2022

22 Nov | Steel News

Latest freight rates from Banchero Costa - November 15, 2022

15 Nov | Steel News

Latest freight rates from Banchero Costa - November 8, 2022

08 Nov | Steel News

Latest freight rates from Banchero Costa - November 1, 2022

01 Nov | Steel News

Latest freight rates from Banchero Costa - October 25, 2022

25 Oct | Steel News

Latest freight rates from Banchero Costa - October 18, 2022

18 Oct | Steel News

Latest freight rates from Banchero Costa - October 11, 2022

11 Oct | Steel News

Latest freight rates from Banchero Costa - October 4, 2022

04 Oct | Steel News

Latest freight rates from Banchero Costa - September 13, 2022

13 Sep | Steel News