Capesize (Atlantic and Pacific)
Optimism of the previous week vanished when on Tuesday index started loosing points; on Friday index closed with a loss of 289 points, but the total loss of the week was 248. The average 4T/C routes lost $3,434 closing at $59,304, fronthaul closed at $70,141, the backhaul at $51,568. The more active market was
Far East with many fixtures especially for Atlantic via
Australia or Richards Bay. Slow activity in Atlantic where tonnage still open spot is struggling to find decent rates for Atlantic round and for
Far East. Quite active ore from Richards Bay to Continent where rates are a $21.75 / 22.00 discharge Rotterdam.
Panamax (Atlantic and Pacific)
Some new inquiry in the Atlantic basin bit not enough to absorb available prompt tonnage however fixing volumes were more encouraging. Rates remained low, with a trip out from the Continent via the Black Sea done at $31,000 daily. A trans-Atlantic round voyage took $24,800 daily plus a redelivery bonus of $80,000 daily. Also the Pacific basin remains very quiet, but rates are not bad at all and short period done $34,000 for 4/6 months; in fact market at least showed signs of bottoming out.
Handy (Far East/Pacific)
The weekly chartering activity still started slow with a further effort from charterers to keep things on hold. Some lower money was occasionally agreed here and there on single trips but the end of the week shows some pressure coming back. Period chartering has still dominated the activity with attractive rate still being paid to owners.
Handy (North Europe/Mediterranean)
The Continent jumped out the bush showing a line up of concluded fixtures at improved rates both for Handy and Handymax sizes. Black Sea suddenly became a little dry of demand and besides a little number of bookings were concluded owners are seen to lower their ideas on a daily basis.
Handy (USA/N.Atlantic/Lakes/S.America)
An initial stability in the
US Gulf was followed by rates starting to ease down which closed the week with reports of quite lower level transatlantic fixtures concluded. The lack of prompt October tonnage is flooded over by an excess of boats coming open between the end of this month and the mid of November.
South America keeps its discrete activity with rates remaining stable to all destinations.
Handy (Indian Ocean/South Africa)
The huge demand for
iron ore carriers out of
India is still not large enough to allow rates to improve enough compared with the excess of tonnage still coming open in this area. Charterers involved with requirements to Atlantic destinations enjoy an easier life to book at more convenient rates which applies similarly to period tonnage fixed with delivery in these waters.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it