September 26, 2016–September 30, 2016 Weekly market report.. Banchero Costa

Wednesday, 05 October 2016 16:10:36 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific) 

Capesize market registered a week with softer rates although remaining at the highest levels of the year. The route from West Australia to China averaged around mid-$5/mt for 15th October ETA, losing around 75 cents compared to the week before. A similar scenario was reported for the cargoes out of Brazil, where the standard route from Tubarao to Qingdao closed the week at $12/mt.  A good presence of fresh volumes was reported in the Atlantic waters, where cargoes getting fixed around low $7/mt basis key route from Bolivar to Rotterdam. Time Charter activity, included fixtures for fronthaul via Nouadhibou (Mauritania), closed the week near to $20,000/d with Med delivery or around $22-23,000/d for fronthaul via Brazil.

Panamax (Atlantic and Pacific)

The Atlantic market remained stable throughout the whole week with a slow reduction in freight levels in USG on Friday. A standard LME was reported fixed closer to low $10,500/d basis Gibraltar delivery for trips via USG to F East while, for trips to MED, similar size have been fixing around $7,500/d basis retro Passero for trips via R Sea and redelivery Passero. The market in Continent showed a 76,000 dwt reported having fixed $7,600/d basis delivery Poland for one trip via R Sea redelivery P Said, while a 93,000 dwt has been fixed at $6,350/d basis Hamburg delivery for trip via Murmansk to Skaw-Gibraltar redelivery. ECSA area maintained similar levels with Kamsarmax still fixing around $8,000/d + $300,000 bb for trips to F East, while for trips to Continent similar size rating was in the mid/high $7,000/d for trips with redelivery Skaw-Passero. Kamsarmax vessels open in India have been agreeing ECSA to F East trips around$ 7,000/d bss dop, while for loading in S Africa, similar sizes have been fixed basis India delivery at $7,500/d for redelivery F East. In the F East the expectation of the Chinese holidays was considered to increase the market levels, but charterers continued to temporize in the hope to achieve cheaper tonnage during the holidays. NoPac RV have been fixed at $7,500/d on a 75,000 dwt while a 79,000 dwt has been reported basis delivery Hong Kong for trip via E Australia to E India at $6,500/d. Trips within Indo region have been fixed around $5,000/d on a 76,000 dwt while, on the period, similar size have been reported having fixed around $7,000/d for 4-6 months.

Handy (Far East/Pacific) 

In spite of the “Golden week” holidays in China, freight rates didn’t showed particular changes compared to the previous week with only few deals closed before the end of the week. More interest was reported on large coal stems from Indonesia to China where a Tess-52 was fixed at $7,500/d with delivery Singapore. A Handymax with the identical delivery range agreed $6,500/d and, closer to the weekend, a 58,000 dwt ecotype did the same trip at $7,000/d. Steel exports from N China to SE Asia registered a good activity; a 57,000 unit fixed $7,000/d for a trip to Vietnam, a 51,000 dwt was agreed at $5,200/d with redelivery Singapore and a 32,000 dwt got $,6750/ for a trip from S Korea to Indonesia. A 55,000 vessel delivering N China was fixed to load nickel ore from Philippines to China at $5,800/d, a Tess-52 delivering at Thailand was fixed to EC India at $7,500/d. Smaller size trend showed a more balanced market, a 33,000 unit delivering Singapore was booked for 2 laden legs redelivery Sri Lanka/Japan range, and another similar vessel was booked for two laden legs at $6,800/d delivery Indonesia and redelivery Singapore/China range.

Handy (North Europe/Mediterranean) 

Market from south Europe showed better levels reported agreed on several different trades. A nice 58,000 dwt delivering at Canakkale fixed $11,700/d for a trip via B Sea to India, a very similar unit delivering at Egyptian Med was booked for a 3/5 months period at $9,300/d with redelivery Singapore-Japan range. A 37,000 dwt basis B Sea loading pig iron and delivering at Marmara Sea was fixed at $10,000/d basis redelivery Adriatic, and a 28,000 dwt delivering at Egyptian Med got $6,400/d with redelivery Continent. A few other similar vessels were said to have concluded private fixtures at improved levels to carry on voyage bss from B Sea to N Africa/European ports; a 39,000 unit was booked with delivery Morocco for a trip via Spain to W Africa at $11,500/d. Much different was the trend from N Europe where, in a slow and weakened market, a large Ultramax was fixed at $10,200/d to carry scrap to E Med, and a 23 years old Handymax was done at $5,000/d from Ireland to Brazil.

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

Despite a very scarce number of concluded deals, rates for Supramax loading out Atlantic Americas registered a slight increase. A 56,000 size delivering USG was committed for a duration of 3 to 6 months at $ 8,500/d with redely worldwide, an Ultramax delivering at USAC booked 2-3 laden legs with Atlantic redely at $8,300/d and a 32,000 dwt dely Texas fixed a trip with petcoke to Japan at $7,000/d. Bss S America loading the only reported news was about a 34,000 dwt fixed at $5,750/d aps Recalada/dop Algeria.

Handy (Indian Ocean/South Africa)

Some fresh enquiries were seen in the market and only a part turned out to be fixed. A Tess-52 booked a short intra-MEG employment at $6,500/d, a 55,000 dwt with similar dely was fixed at $8,500/d for a trip with redely Oman-EC India range, and another one was fixed for a 4/5 months period at $7,500/d with redely WW. A Supramax was paid $9,000/d to carry limestone from Fujairah to EC India and a 57,000 dwt delivering WC India preformed a trip to china at $4,500/d for the first 35 days and $6,000/d for the balance.

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


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