Capesize (Atlantic and Pacific)
Capesize market was still positive with rates going up as result of an increase of demand in the Atlantic which brought rates up especially for the import of iron ore from Brazil to China that went reached Usd 26.10 but there were also rumours of possibly having even seen rates in excess of Usd 28.00 level!!! In Pacific the iron ore demand remained quite good and the average of the 4 T/c routes was ending the week at $ 39,401 that is $ 5,974 up. However it still remains a one horse race with China the major consumer of iron ore and the main responsible of all the market sentiment so far.
Panamax (Atlantic and Pacific)
Atlantic Panamax rates closed the week in a good mood. Prompt positions with tight tonnage creating some pressure in the market. Transatlantic rounds for the early ones were well into the $14,000 daily range and around usd 20,000 for trips east. There were very good activity from the Black Sea where many of the Mediterranean tonnage were ballasting for cargoes loading there out to the East or Middle East, and quite good period activity with rates nudging $17,000 daily for short period. Unfortunately this ''positive'' feeling was not in the Pacific, where market was slowing down. Although $8,000 daily was done for a NoPac round, rates were now around the mid-high $7,000 daily range. The market was still positional. Short period was still active enough with rates now down to around $13,000 daily.
Handy (Far East/Pacific)
Good activity reported during the week in Far East market, both for single trips and for short period employments. Rates are improving, even if far form the good level achieved in Atlantic. Modern Supramaxes have been fixed for short period in the region of Usd 10,000 and for 1 year in the low teens. Most of big operators are looking at such kind of operations.
Handy (North Europe/Mediterranean)
Black Sea market is firmer and firmer, rates are growing on daily basis, there is a good quantity of agriprod cargoes from this area and of steels especially to Far East and Mid East, and also in view that many owners don't want to go through Suez channel, charterers are paying good premiums. From Continent have seen good fixtures to Med, to Far East and also to USG, scrap biz is driving the market.
Handy (USA/N.Atlantic/Lakes/S.America)
Rates still improving, even if lower than last 2 weeks, now there are a some more ships open in the area, but demand is still good. Probably next week numbers will start with 3 for trip out to Feast from USG. Also from South America there is a good number of cargoes and especially requirements to Feast - Persian Gulf Area are paying really interesting levels.
Handy (Indian Ocean/South Africa)
The activity and rates from this area remained unchanged compared to last week. The iron ore trade from India to China is pushing Supramaxes in the region of low teens. Also from this area operators are looking for tonnage willing to do period..
Banchero Costa and Co Spa
Mail: research@bancosta.it
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