Capesize (Atlantic and Pacific)
The capesize market is still lacking of requirements. Rates are largely below the Panamax ones, especially in the Atlantic. The Pacific market is still following the iron ore trade from West Australia to China where the majors are still fixing at below Usd 10.00 level. There were some Capesize fixing for Brazil rounds, but the voyage rates are still in the mid Usd 25's range. The Capesize market in the Atlantic has a few requirements with many ships available and consequently the rates are getting not much above the Usd 25,000 level, much less than the equivalent for a Panamax which is now getting around/over the Usd 30.000 range. Period trading has been slow as well, although it is rumoured that Swiss Marine have taken the 169,000 dwt Mv Front Striver for 4-6 months trading at Usd 28,000 daily.
Panamax (Atlantic and Pacific)
Activity in the Atlantic market was slow, with lower rates especially due to business from the US Gulf and Mediterranean which was still easing. There was still sufficient activity to support rates from the Continent trips out, and good activity were remaining in the East Cost South America where charterers were still taking ships for short periods from India and South Pacific. The Pacific basin, instead, saw good activity this week, with new demand for period tonnage to support rates.
Handy (Far East/Pacific)
Activity was slower and a few fixtures were reported failing on subjects, but still a good number of Handysize and larger Handies were reported fixed. Not a lower rate was seen agreed on inter-Asia Supramax business, even some Supramaxes were getting better numbers. Due to the decreased demand for loading iron ore ex India, a fixture concluded at low rate at the beginning of the previous week was quickly contradicted by other similar sized vessels managing to achieve hire premium for Indian Ocean bound business. Handysizes kept enjoying nice levels both for employments within the area and backhaul business, for which, additionally to the official reports, a modern unit was rumoured to have fixed usd 12,000 daily for trip from South East Asia to the Atlantic. Period interest focused on Supramaxes for duration upto one year, rates kept similar to last done.
Handy (North Europe/Mediterranean)
Just one vessel was reported fixed for business loading out of the Black Sea, from where the chartering enquiry was quite large with a good number of prompt small and larger requirements still to be covered. Most of them were involving Red Sea and/or Gulf of Aden transit which cut down the quantity of actual tonnage availability due to the trading restriction, and allowed owners of workable tonnage to keep increasing their rates. The western Mediterranean was another active loading area for handy-size tonnage with large demand for tonnage to load cement and fertilizers to African and cross-Atlantic destinations. A Supramax new building delivering in the Adriatic was taken for a 12 months commitment at a daily rate about usd 25,000, more than what the Pacific market would have paid. The chartering demand raised again out of North European port leading Handysize and Supramaxes to fetch very nice rates to load fertilizers into the Middle East and scrap into the Far East.
Handy (USA/N.Atlantic/Lakes/S.America)
Activity has been up again from Atlantic Americas resulting in a large number of concluded fixtures at improved rates for all sizes, both for trans-Aatlantic and East bound business. The pick-up started more constantly from the USG where Supramax rates to the East climbed to almost the usd 50,000 level. Handysize and Handymax vessel enjoyed again greater rates for cross Atlantic employments and a Supramax was fixed over usd 35,000 daily for short period. This better trend shortly followed by South America loading business where aps delivery rates were showed to go upwards, made a serious improvement and more attractive rates were being agreed for tonnage delivering at West/South Africa and Gibraltar as well.
Handy (Indian Ocean/South Africa)
The on-going slow activity for iron ore India/China kept rates on a sensible downwards trend from both coasts. If the lower rates from the West Coast were required by charterers to fix and cover the monsoon weather delays, the East Coast kept on similar levels only because of the chartering demand, and a vessel coming available on this side had to fix basis South Africa loading to achieve an employment.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: http://www.bancosta.it/