Capesize (Atlantic and Pacific)
Sudden change of direction in the Capesize market during last week: 1629 points gained on BCI
index; this means about $ 20,540 note on the 4 T/c routes ended Friday at $ 92,610, but especially all market either in Far East and in Atlantic ended in a complete opposite direction than last week. The iron ore from Brazil to China improved of almost 10 dollars from about $ 40 to almost close to $ 50, the Pacific rounds were fixed in the about $ 86,000 compared to low $ 60,000 at the beginning of the week. Of course everybody saying that market had bottomed out and that a recovery was expected but not that much and so fast... One of the reasons is probably the usual push on FFA market, which boosted the physical market as a consequence. It is better to wait another week and see which direction the market will take.
Panamax (Atlantic and Pacific)
Atlantic Panamax started with slow activity but business saw rates improve suddenly, all rates have been hardly improved: trip out via Brazil fixed at $55,000 daily, trans-Atlantic rounds $53,000 daily. Demand for short period business dominated the trading with a 5/7 months done at $53,750. Also the in Pacific market was good, with plenty of inquiry reported for period business. Short period business of 4-6 months trading made a very nice $43,750 daily. In trip business, a Far East round earned a very solid $47,000 daily. Long period of 1 year done over Usd 45,000.
Handy (Far East/Pacific)
Some fixing and failing went on the spot market, more charterers interest seen for period chartering but limited to short term employment, mostly 3 to 5 months or 2 to 3 laden legs. Some deals where concluded on this basis at levels, which still remain not exciting enough. Similar or slightly smaller money agreed for single local trips should at least mean that a small confidence in the nearby market stared pervading charters. Fancy Supramaxes for trips back to Europe are worth around Usd 40,000 daily, while there is almost no backhaul business into the USG. Three further fixing and failing saw at the end of the week due to owners trying to rise their rates.
Handy (North Europe/Mediterranean)
Market activity stayed very quiet all around the area with a Handymax reported booked from the Continent to East Africa at an unattractive rate, even taking into consideration she would be ending up in a quite good loading area. Also the Mediterranean and Black Sea were seen idle enough in fresh chartering, which lead to reduced rates for Transatlantic business back to Americas.
Handy (USA/N.Atlantic/Lakes/S.America)
The Us Gulf further proved to be the best spot of the chartering market, agreed rates started growing up again through the week, starting with the Transatlantic trade where a 50,000 tonner earned very high 50,000's for a trip into the med. Afterwards huge money was agreed for a Supramax to perform a few laden legs and be still redelivered in the area, the only handy-size reported fixtures showed hoe firm market is going on these sizes as well. South America went through a similar positive atmosphere while the available business volume was a little smaller from there and a forward position for a trip to Far East fixed at smaller money. This ignition of upward trend is probably one of the major reasons which has prevented the Supramax and Handysize indexes to decrease that much.
Handy (Indian Ocean/South Africa)
The persisting business idleness from the Indian Coasts and the Persian Gulf allowed South African loading charterers to put in place their tactics and book a couple of vessels to Atlantic destinations at quite cheap money, even considering charterers have taken them on delivery from ports which are several days off the loading place.In this scenario also Handysize prove to proportionally get a little better money than Handymaxes basis loading South Africa.
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