Capesize (Atlantic and Pacific)
In the beginning of the week Market continued the small rally of previous 7 days and then corrected during the remaining days (on Friday 12th BCI marked 1331, on Friday 19th index was 1423 and reaching the peak of 1515 points on Wednesday 17th). BHP and Vale continued their Christmas shopping fixing more than 10 vessels each respectively from Australia and Brazil and pushing the level of voyage from Australia to China upto around usd 6 per metric tons, in excess of usd 10 per metric tons from Brazil to China. A few fixtures for period had been concluded with numbers in excess of usd 20000 for 1 year time charter.
Panamax (Atlantic and Pacific)
A still broadly calm week for the Panamax market, with limited inquiry and overwhelming availability of tonnage. Things started moving a bit more towards the end of the week in light of the oncoming Christmas holidays meaning market players trying to cover their positions before closing office. Iron ore cargoes from India to China remained consistent, together with some coal business from China to Korea and Taiwan and some grain business elsewhere. Some period activity was seen with rates of about usd 11-12,000 daily for one year for LMEs.
Handy (Far East/Pacific)
This market kept showing fixtures concluded at extremely low levels. Rumours about a 43,000 tonner concluded for a trip from Australia to Singapore-Japan brought a little bit of optimism which unfortunately couldn't be confirmed by any other better deals concluded afterwards. Large Handymax were fixed short period at usd 6,000 daily. Handysizes looked to fetching a little better rate but was the same as before due to positional reasons or very short duration.
Handy (North Europe/Mediterranean)
A Supramax reported fixed at lousy money for a trip from the Continent to the Far East was the only available sing of the concluded activity. Owners of tonnage open in the Black Sea were holding back for firmer rates, even if their vessel was already open spot. No improved fixtures have been reported so far.
Handy (USA/N.Atlantic/Lakes/S.America)
Discontinuous activity from Atlantic America generated contradictory reported fixtures; some were concluded at a little better rate than the previous week while others were much worse. Proportionally there was more business out of South America but the huge participation of tonnage ballasting from the U.S. Atlantic coast was keeping rates down enough. The week concluded very quietly although fresh enquiry ex South America is foreseen to be coming next week.
Handy (Indian Ocean/South Africa)
Fewer fixtures were reported concluded on the usual India/China iron ore trade. Rates seemed to be keeping to last dones. The on-going freight crisis affecting pacific waters is attracting the iron ore charterers to knock the door of vessels coming open in the South East-Asia/S. China range which in the end may take advantage to perform an East Cast India back to China round voyage, rather than stay idle.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it