Capesize (Atlantic and Pacific)
A disappointing week 38 for the Capesize market with rates softening in all basins mainly due to the chronic lack of cargoes out of Brazil and in the Atlantic. In Pacific, despite the usual remarkable volumes with all the majors in the market, owners were forced to lower their rates to the $7.55/7.65/mt range, nearly one dollar less than the previous week, due to the increasing number of vessels available. Almost absent the activity for front haul from Brazil which led rates at a very low $21.50/mt basis mid Oct dates. On the other hand, still decent levels were agreed for the BSea/China route where $40,500/d were fixed on a Cape basis open Icdas end Sep dates. In the Atlantic the usual lack of fresh requirements, despite the few vessels open, gave rise to a sudden fall in rates and a TA RV basis delivery 27/28 Sep was reported fixed at $10,500/d at the end of the week. Some voyages basis business were done with a similar time charter equivalent. Period activity absent due to the uncertain and disappointing market.
Panamax (Atlantic and Pacific)
Week 38 was negative for the Atlantic market with not many cargoes for end Sep/beginning Oct and too many vessels, including ballasters from F East. Atlantic RV was flat and rates were still around $10,500/d + $150,000 bb from USG and even from ECSAm; a trip to F East from ECSAm was fixed at $13,500/d + $350,000, while from USG rates dropped compared to the previous week and now fixtures are reported around $14,500/d + $450,000. USG business is mainly done on voyage basis. The activity from Cont was quiet with few Baltic RV reported around $5,000/d with redely Skaw/Gibraltar and slightly more if Med redelivery. No interesting fixtures reported for period: on fancy ships short is done around $9,500/d and 1yr around $10,000/d. In the East despite during the first days of the week market was still supporting owners with a good interest around the NoPac and the Australian cargoes, rates slowly decreased, with levels around $8,000/8,500/d for the long Pacific voyage. The short Indonesian RV was fixed around $7,500/d on dop basis, with some premium for Indian redely. This market suffered a bit the competition of some ballasters open in EC India and not able to find the right cargo in that range, likewise ballasters from N China found some recover in the USG market.
Handy (Far East/Pacific)
Because of Japanese holydays week 38 started slowly: initially new fixtures done at levels similar to the previous week's, afterwards the market became more positional. Due to the on-going very slow market in the Middle East, charterers involved with the coal trade from Indonesia to India still had to pay firmer rates to attract owners to go this way. A 53,000 dwt delivering at Spore got almost $11,000/d for a trip to WC India; nickel ore charterers loading out of the same region still managed to get Supramax to go to N China in the $9,000/d levels. Larger interest for Supramax backhaul business: 3 vessels reported booked to S and WAfr, with up to $10,000/d flat rate agreed on a 55,000 dwt for a trip to WAfr (which may also involve a premium to owners for sending their vessel in an area where there are counties affected by Ebola disease). On smaller sizes a fancy 33,600 dwt got $7,500/d to get out of WCCAm and earn better in next open position to NCSAm. French major grain house took another fancy 36,400 dwt for one year trading at a quite decent $9,000/d, with an option for a second year at $9,750/d.
Handy (North Europe/Mediterranean)
Atlantic pick-up was more active in Eu waters. Several Supramax were fixed on front haul trips. An Ultramax was booked at a/d rate well over $19,000/d while a couple of Supramax got $14,000/15,000/d on the same trade. From the same loading range a few Supramax were also fixed to carry scraps to the E Med: initially two got $11,000/d while another two, closer to the weekend, were reported done at $13,500/d and $14,000/d respectively. Rates out of Med and BSea showed improvements even if the positive trend was slower. A 53,000 dwt dely Turkish BSea was fixed for a trip to MEG and Muscat redely at $14,750/d. Clinkers were moved from Spain to WAfr with a 46,700 dwt reported done at $11,750/d basis dely Gibraltar and a 56,800 dwt fixed at $14,000/d with dely at Atlantic Morocco; a sister vessel took a backhaul business into the Caribbs at $4,000/d only basis dely Greece, but if the duration is short enough, it may mean a reasonable investment for owners later positioning their vessel a quite firm market area.
Handy (USA/N.Atlantic/Lakes/S.America)
The limited amount of reported fixtures could be due either to charterers attempt to keep confidentiality on deals or to show some resistance to the firmer market which pervaded the USG market through the week. From this loading range a fancy 58,000 dwt got paid a very firm $25,000/d for a trip in the F East, an almost sister ship was fixed at $21,000/d to go to N Eu and a 50,900 dwt got a still very good $19,000/d from NCSAm to UK. A slower market in SAm showed two Supramax done at softer levels for business to the East, a 56,500 delivering aps basis agreed at $13,250/d plus $325,000 bb and an Ultramax getting $13,500/d plus $350,000 bb basis same dely.
Handy (Indian Ocean/South Africa)
Once again the chartering demand from these areas was low, fact that allowed major German owners/operators to fix a 57,000 dwt for a 4 to 6 months period at $9,100/d. There are rumours that the local industry started seeking freight backing for chartering business which might be a sign for the chartering demand to begin recovering.
Banchero Costa and Co Spa
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