Capesize (Atlantic and Pacific)
Capesize Market last week signed a small up and down which result in a minus 65 point on the Baltic Capesize Index but the market was very active on the medium or long period either with prompt and also forward delivery positions. Overall we have seen Korea Line taking upto 5 Capesize for period in the last weeks, from the $ 37,000 daily paid for one n/b with delivery 2011 for 10 years t/c to $ 57,000 for 5 years done on a n/b 180,000 with delivery 2009. Routes remained very healthy at about $ 88 for Brazil/China or abt $ 227/228.000 on T/C, Pacific rounds at about $ 188,000 while Atlantic rounds at a lower $ 181/182,000 daily.
Panamax (Atlantic and Pacific)
This week prompt tonnage influenced the market - especially in Atlantic - and both basins where low rates has been reached. Now that many of them have been fixed sources were confident that rates for both spot and period business will start to rise again mid-next week. Demand for period tonnage especially for long term still brings good rates for owns.
Handy (Far East/Pacific)
A good volume of fresh spot enquiry from Far East and Australia brought a further upwards push to this area already busy from charterers on-going period charter interest. A Handymax available in Singapore was rumored to have fixed Usd 80,000 for a trip via Australia to the Far East. Supramaxes got fixed thru the week in the low 70,000's for rounds via U.S. North Pacific and Australia, with rates in the mid 70,000's being paid to these units for short periods. More backhaul business to Europe showed rates for trips into Europe ranging between the low and high 60,000's', depending on vessel's size and specifications. A smaller handy fetched hi 40,000s for an Australian round, and the week ended showing a Supramax getting close to Usd 80,000's for a local trip within the Far East.
Handy (North Europe/Mediterranean)
Fresh demand for tonnage from the Continent, Mediterranean and Black Sea generated an additional push-up of the Atlantic market, already red-hot by the volume of chartering interest from Atlantic Americas. Not many fixtures were reported but enough to show that Black Sea market is back to being quite firm, also considering the high rates paid were for more than one leg employment. Charterers involved with fertilizer trade between Morocco and India were as well compelled to pay very high money to manage book a Handymax which otherwise would have been easily washed away by the Americas market.
Handy (USA/N.Atlantic/Lakes/S.America)
The week started at full steam with big demand both for spot and period enquiries out of U.S. Gulf and South America, which just kept rates very firm and further increasing. The surfacing slow-down At the mid-week was just a very short market relax, quickly followed by some Handymax available at West Africa getting fixed via South America to the Far East between high 60,000's and low 70,000's, depending from vsls sizes and specifications. Additional period and spot enquiry was circulated while the week was ending when a large Supramax got 95,000 Usd daily for a trip from U.S Gulf to Japan range and a bit smaller Supramax earned 69,000 daily by delivering in the Continent for a trip via the U.S. GulF to Far East.
Handy (Indian Ocean/South Africa)
A wake up of the South African loading spot enquiry brought an additional rush of blood into the area. Larger Handies were paid strong rates from mid 40,000's to Usd 50,000's daily for trips to the U.S. Gulf and to North Europe. Rates for Supramaxes loading iron ore from India to China are still pretty much firm and showed some more increase ending up into 71,000 Usd daily being agreed for a boat loading out of the West Coast. The 68,000 Usd daily paid to a Supramax for 12 months employment was impressive.
Banchero Costa and Co Spa
Mail: research@bancosta.it
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