Capesize (Atlantic and Pacific)
The Capesize market did not change its trend during last week and kept drifting down. Despite all the charterers were looking for tonnage, out of W Australia rates dropped to mid $7/mt, while Newcastle/China cargoes were fixed in the high $10/mt. The number of ballasters increased and, as a consequence, levels were poor out of SAfr: Saldanha Bay paid only mid $13/mt to N China. Brazil market was quite thin and last reported cargo to China was in the low $17/mt. The ist of Atlantic ships is becoming longer and owners had to accept $6/7,000/d for TA RV.
Panamax (Atlantic and Pacific)
The Atlantic Panamax market was very quiet; most of fresh inquiries were from USG and the other few cargoes seen closer to the end of the week weren't enough to push rates higher. A trip to F East out of USG was fixed at about $14,500/15,000/d plus a $500,000 bb for end of Oct dely, while rates for a fronthaul trip from ECSAm slowed down to $13,000/d+$300,000k bb; Baltic RV on vessels open in Cont were done below $7,000/d for good reposition cargoes. A similar situation was seen in Pacific, where holidays had a significant impact on the market. Rates hardly reached the last levels seen before the holidays, even after office opening. Some interesting movements were seen from N China to India with fertilizers; from Indonesia/Australia to India with coal at rates about $8,000/d on fancy Kamsarmax and around the $6,500/d for Pacific RV. There was a bit more activity on period trading with some very fancy Kamsarmax fixed. Rates for short period charter, depending from dely, were around $9,000/d for lme, $9,500/10,000/d for Kamsarmax and above $10,000/d for the new super-eco Kamsarmax.
Handy (Far East/Pacific)
Market trend in F East/Pacific area was slower than the previous week, due to some holidays still going on. The higher rates were still paid for Supramax tonnage on single trips to India, for owners this remains quite an undesirable area to position their vessels. At the beginning of last week, a 58,000 dwt got $11,000/d basis dely China for a trip via CIS Pacific to EC India. The week ended showing a slightly smaller vessel done at $10,500/d basis dely Spore via Indonesia and a worse redely full range India. A 56,800 dwt delivering Japan was fixed at $9,750/d for a trip with scrap via NoPac to India; a similar unit was said to be worth about $1,500/2,000/d less for a similar trip with a better-for-owners redely in Spore/Japan range. Charterers' interest for Supramax short period was active with an unexciting $11,150/d for 3/5 months period followed by a 56,100 dwt done at a quite lower $10,000/d for 4/6 months and an option for further 4/6 months at only $10,500/d, but the latter was less economical.
Handy (North Europe/Mediterranean)
A very slow market from Med/BSea: there were a couple of deals reported from BSea one of which showed a Supramax agreed at an improved $15,500/d with dely Alexandria for a trip via BSea to the F East. However it was rumoured that this was possibly the highest fixture done and might have been influenced by specific needs of the charterers, as for similar trips other Supramaxes were fixed well below $15,000/d with dely at Canakkale. A better $5,500/d rate was agreed for a 31,000 dwt performing a backhaul BSea/USG trip. No official news was available on Cont but scrap charterers' interest trying to obtain lower rates for Med destinations was rumoured.
Handy (USA/N.Atlantic/Lakes/S.America)
Last week a 58,000 dwt agreed $19,500/d from the USG to F East. If the $16,500/d from the same area to Med was an old fixture, a smaller Supramax still was reported freshly fixed at $16,000/d from US E coast to carry wood pellets to Cont. Supramax rates from SAm were lower with only $13,000/d agreed for a trip to W Med and $12,500/d + $260,000 bb to carry steel to F East. There were rumours that a 53,000 dwt was fixed for a trip with dely SAm mid Oct to MEG at about $12,000/d + $225,000 bb, need to be confirmed.
Handy (Indian Ocean/South Africa)
Once the Indian iron ore export ban was lifted, trade was expected to resume massively by this autumn, but up to now there are almost no signs of such enquiries in the market. The smaller demand from China in connection with the issues linked to the commodity and the higher mining costs are the reasons hampering this trade from building any solid ground for the general growth of the market in the area. Even with no need to compete with Indian export, the iron ore trade from Iran to China shows rates 30/40pct below the levels available before the export ban that had hit India. A sole fixture was reported from SEAfr to F East at figures proportionally similar to the ones reported the week before. It was also rumoured that some Cont interest took a Supramax delivering India for 3 to 5 months period at a rate near to $9,000/d.
Banchero Costa and Co Spa
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