Capesize (Atlantic and Pacific)
The Capesize market was really volatile during last week. On Monday the activity was very limited due to holidays in Singapore which affected all markets. Later, a middle week drop was registered and it was immediately followed by a quick increase that pushed rates even over the opening of the week. The standard route from West Australia to China, in particular, settled the week with charterers paying $6/mt for early October dates. The route from Tubarao to Qingdao closed the week close to $12/mt and the Atlantic market gave signs of vitality with some charterers still out on Friday looking to cover their stems. This fresh activity wasn’t seen for routes from North Atlantic to East, where not many cargoes were reported. Finally the short period market took off and activity was definitely improving on that side too.
Panamax (Atlantic and Pacific)
During last week the Atlantic market has shown a slow reduction in levels from USG with Kamsarmax vessels fixing $10,300/d + $230,000 bb for trip to F East but towards the end of the week the market saw an upward trend pushed by the increased number of orders seen in the area and a stronger levels on the FFA: owners were rating around $10,750/d + $275,000 bb for fronthaul direction while trips to Med were fixed at $9,000/d on a 75,000 dwt vessel with redelivery Passero. In ECSAm area fronthaul business were fixed on a 75,000 dwt around $7,650/d + $265,000 bb, while for trips within Atlantic a similar size was reported fixing $6,750/d basis delivery ECSAm for 2 laden legs. Levels seen from Continent maintained stable with 75,000 dwt vessels still fixing around $5,250/d for trips to Med basis Rotterdam delivery, while for trips via USG to F East an 82,000 dwt unit was fixed basis Ghent at $10,000/d. From S Africa a 75,000 dwt vessel fixed a trip from R Bay to India at $6,000/d + $150,000 bb. In F East less activity was seen towards the end of the week due also to the Festivity in China. NoPac RV were fixed on an 81,000 dwt at $5,500/d basis Qingdao delivery, while trips within F East were done at $6,000/d basis Vietnam delivery for trip via Indonesia to Spore-Japan.
Handy (Far East/Pacific)
Supramax rates softened slightly through the last week due in particular to very limited demand from Australia and NoPac RV; approaching the week end there were rumours of better rates agreed. A large number of units were fixed on the Indonesia to China coal trade, amongst them, with delivery Spore, an Ultramax got $7,950/d, an eco-type 58,000 dwt achieved $7,600/d and a 53,000 dwt non-eco $6,150/d. On the coal trade from Indo to India a non-eco unit was fixed at $6,150/d and at the end of the week a similar unit was rumoured at $7,500/d. On the nickel ore trade from the Philippines a Supramax achieved $6,300/d basis dely East China Sea to N China and a Tess-52 then got $5,500/d basis dely S China. From China to MEG similar tonnage was fixed in the $6,000’s/d and a 32,000 dwt achieved $7,000/d basis dely EC Sea for a trip via Japan. A 56,800 dwt non-eco with dely N China fixed a NoPac RV at just $5,500/d and an Ultramax open N China accepted a trip to WAfr at $4,800/d for 65 days and $7,000/d balance.
Handy (North Europe/Mediterranean)
A number of large units were reported fixed from BSea for fronthaul business showing that rates were dropping again: an Ultramax with dely Canakkale got $11,000/d for a trip to Spore/Japan range, then another similar unit was fixed on the same trade at $10,500/d and a smaller non-eco Supramax achieved $9,500/d. A 53,000 dwt with dely Marmara achieved $9,000/d basis redely MEG/India range. From the same area a 56,000 dwt was booked to USG at $4,750/d. Handysize exports were still active, mostly for Med and N Europe discharge; no fixtures officially reported, but rates were similar to those of the previous week. A 17 years old Handymax achieved $8,500/d for a trip from Spain to WAfr with clinkers. From Cont a 55,000 dwt achieved a quite interesting $13,900/d basis dely Germany for a trip via Baltic to India.
Handy (USA/N.Atlantic/Lakes/S.America)
Most of the fixtures reported from USG on larger sizes were for coals stems, hire rates were softening. A number of Supramax were fixed to Japan at rates between $12,250 and $12,500/d, for India discharge a Tess-52 agreed $13,000/d whilst an Ultramax got $14,000/d. On TransAtlantic trades a 58,000 dwt achieved $10,250/d to carry pet-coke to Greece and a 57,000 dwt achieved $9,000/d to Morocco. Positive trend from S America where improved activity led to an Ultramax fixed at $11,250/d + 140,000 bb for a trip to SE Asia and a 57,000 dwt with dely Santos that achieved $10,400/d + 130,000 bb to perform a trip to Bangladesh (min 65 days). From ECSAm 2 units were booked to carry grains to S Africa: a Tess-52 got $12,000/d and a 28,000 dwt achieved $6,700/d. A couple of Ultramax were fixed on TA trades to Cont at $9,000’s/d, an Handymax got $7,500/d and a 30,000 dwt was fixed at $5,400/d. Improved demand for Handysize to carry grains from ECSAm to WCSAm with a 37,000 dwt that got $9,250/d to Buenaventura, a similar unit achieved $7,000/d to Peru and a 32,000 dwt at $6,250/d to Ecuador.
Handy (Indian Ocean/South Africa)
Trades involving Muslim countries were basically frozen due to holidays. The Coal trade from S Africa to MEG/Bengal Bay range was suffering a tight market situation. Owners with prompt tonnage available in the area were clearly showing a strong preference for S American market and refused MEG destinations despite rates’ incentives: charterers with cargoes to MEG were heard evaluating small Supramaxes $12,000/d basis dely aps, and still did not get interests back.
Banchero Costa and Co Spa
Email: research@bancosta.it
Internet: www.bancosta.it