Capesize (Atlantic and Pacific)
From last Monday Capesize market started his decrease that ended last Friday on BCI index at 6,161 that is 179 points down; the average of 4 t/c routes closed Friday at $70.135, $2.490 less. During all the remaining week the market was low mainly due to the Chinese Lunar New Year that is due the 17th of February and will probably remain low most of next week, as it will be holidays in the Chinese countries. The Atlantic market was instead more active with some requirement to
Far East with fronthaul rates stopped at $99.000 and other to Continent or Mediterranean and it was remaining quite strong mainly due to lack of tonnage availability for prompt loading. We expect therefore this low market to stand also for next week and may be we will see a recover again only after the end of next week.
Panamax (Atlantic and Pacific)
Atlantic Panamax is active, and quite firm, due mainly for two reasons: Capesize splitting, (mineral cargoes were still the mainstay) and grain cargoes seem to increase (despite many of them fixed off the market) Period activity remained good for both tonnage in the Atlantic and the East. In the East the short period rates remained better rather the spot market which reflecting the current Atlantic strength. The Pacific round voyages reached around the low $30,000 daily range and similarly for trips to the Atlantic.
Handy (Far East/Pacific)
More activity was seen out of
China even if the country will be shutting down full next week for the lunar holidays. Handymax rates for trips to the Atlantic are firmer with a couple of timecharter fixtures reported concluded between high 20,000's and low 30,000's. But the excitement faded away in the 2nd part of the week with a majority of operators leaving for earlier holidays.
Handy (North Europe/Mediterranean)
Activity remained quite lousy both in the Continent and Med/Black Sea areas although a couple of Handymax fixtures were concluded at decent enough money. At least for the time same is more likely due to charterers hoping to better money with this tonnage after positioning same in other areas in combination with owners having trust in the fore coming market. There are nowise no serious enough signs of recovery in the local markets.
Handy (USA/N.Atlantic/Lakes/S.America)
Rates from
US Gulf to Mid and
Far East have decreased a little further while signs of recovery are seen on the transatlantic trade although same may have been dictated more by positional reasons rather than a growing-back market. There seems to be too much tonnage available in the area compared to available requirements that may not allow an upward trend. South American market was kept more on a standby with few requirements available and charts trying push rate down, but owners have been showing resistance so far.
Handy (Indian Ocean/South Africa)
Some nice rates were still reported agreed on Handymax fixtures for
iron ore WC
India to
China, but same where partly influenced by some charterers rush to conclude prompt loading business and get receivers approval before they disappear for the Chinese holidays. A modern Supramax earned very nice money by fixing short period with delivery EC
India.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it