Capesize (Atlantic and Pacific)
Another week in a fast capesize moving upwards market. The average of the 4 T/c routes reached $98,506 which is not yet the record which was over $105,000 reached in the end of 2004 but we are very close to that. The round voyage rate is still around $105,000, the Fronthaul about $117,000. The Pacific seems the most increasing market where modern Capesizes reaching levels of about $97/97,500 while for backhauls getting about $74/75,000 daily and increasing further so that shortly we should see the Pacific rounds reaching similar level than Atlantic one. The period market is still very active and reported fixtures in the short/medium/long and even very long periods are reported almost every day with most of charterers are fighting and there to pay increasing rates just to find tonnage for period.
Panamax (Atlantic and Pacific)
Another busy week very good rates are reported and expectation is positive with firming rates in both basins. A trip out is $49,000 daily but within shortly we will see $50,000 or more while trans-Atlantic round voyage was done at $46,000 daily. Short period business of about 4 months trading was reported done at a firm $47,500 daily. In the Pacific, a Far East round made $49,500 daily, while an Australia round was reported fixed at $44,000 daily. A period of about 9 months trading was said fixed at $39,500 daily.
Handy (Far East/Pacific)
A dominant interest from charterers to keep booking tonnage for up to 2 years period was not slowed down at all by the daily rate increase dictated by owners. A first shocking feeling brought by a new building large supramax reported booked at $32,000 daily for 2 years was shortly afterwards washed away by a fresh surprise to see a slightly smaller boa booked for the same duration at $500 more, although this latter one was delivered two months earlier. The spot activity was described as limited, which didn't prevent a supramax to fix $40,000 via north Pacific to the Red Sea, with delivery in the Far East, and another one to take $42,500 for a straight trip from the Far East to Muscat. The week ended with charterers only talking about fresh period charter interest.
Handy (North Europe/Mediterranean)
A slower Continent was generously balanced by Mediterranean and Black Sea waters. Besides an actually larger number of concluded deals, good part of which managed o get kept confidential, reported fixtures showed, to start, a very good $42,000 daily hire paid for a large supramax open inside the Black Sea booked for a trip to Muscat. But in couple of days it was still beaten by a new report showing a much smaller handymax getting $41,000 for the same run.
Handy (USA/N.Atlantic/Lakes/S.America)
The American Atlantic waters wee totally untouched by the festivities, the first working day of the week showed US Gulf and South American markets as firm as the Friday before, with a daily increase through he week in both areas an a fresh period interest from charterers for US Gulf deliveries. The "45's" are easily getting high $40'000's daily fro trips out of the US Gulf into European waters but the top of the week was a 52,000 tonner getting booked at $51,500 for trip to Far East. South America concentrated it's interest on smaller handies.
Handy (Indian Ocean/South Africa)
A smaller bunch of reported fixtures didn't show agreed rates are lower. The on going large demand for tonnage to load iron ore from India to China leads to think that the concluded deals where actually more. But the majority was kept confidential. A few enquiries are pushed around for loading South Africa to Atlantic destinations.
Banchero Costa and Co Spa
Mail: research@bancosta.it