Capesize (Atlantic and Pacific)
After a slow and uncertain start of the week, unexpectedly Capesize market was again rocketing up in the sky during the second part of the week. This is largely due to the paper market, but also driven by the lack of prompt tonnage open in Atlantic which is bringing the T/A round to almost equate the fronthaul rate. Round voyage has been done at $80,000 and the fronthaul rate is running these days in the low $90,000 levels and cannot exclude that next week the difference could even be thinner. The Pacific market has also gained although not as Atlantic; Pacific round is at almost $67.000 while backhaul at about $55.000, while coal ex Richards Bay did a jump of about one dollar although there have been rumors of a 24.50 been done for Richard Bay to Rotterdam. The average of 4 T/c routes improved from $70.135 up to $74.597.
Panamax (Atlantic and Pacific)
Market was active during the week as rates maintaining on a high levels. In the Atlantic, we have seen plenty of fresh inquiry which boosting rates. Black Sea -in particular- is under pressure with many cargoes to fix. Period activity also remains at high levels in both regions. In Pacific Chinese holidays not helping to keep market high but after a slow start the rates becoming firm with rounds moving towards the mid $30,000 daily range and moving off the low $30,000 daily range to the Atlantic.
Handy (Far East/Pacific)
Surprisingly, the full week holidays in
China in connection with other eastern countries still closed for couple of days, didn't appear to hamper the market trend even within the Pacific basin. This has not happened since several years. Even if some slow down was experienced on the spot/single-trip chartering interest, decent money was still paid on local trades, several backhaul fixtures were concluded at firm levels, with a clear improvement of the rates for direction West
Africa. Better money was also agreed for Supramax size short period chartering.
Handy (North Europe/Mediterranean)
A sudden positive revival was seen all around the European Atlantic and Mediterranean basins, with a fresh flow of inquiry from the Continent, Black Sea and Mediterranean. Short period deals with delivery in the Mediterranean where agreed at optimistic levels both for handymax and supramax sizes and better money was seen to be paid for trips out of Black Sea. No details of concluded business for loading out of the Continent were reported, but the high money Charerters paid to take a vessel from North
France and load her out of the
US Gulf for a trip to the
Far East shows that the Continent market is anything but weak.
Handy (USA/N.Atlantic/Lakes/S.America)
The Monday holiday celebrated in the U.S. slowed down the activity out of
US Gulf and
US Atlantic until mid-week. Handymax and supramax rates afterwards proved to remain firm and become firmer both on cross and
Far East trades. $40.00 daily as reported agreed for a modern supramax booked out of the
US Gulf to
Far East, we were miring these figures since few weeks. Short period fixing for these sizes showed healthy rates Handysize rates were the sole affected by negative trend, while similar sizes have enjoyed a better market from
South America where instead owners of the larger handies have been a bit under pressure.
Handy (Indian Ocean/South Africa)
Similarly to the Pacific the Chinese holidays did not interrupt the
iron ore chartering
India/
China.
Charterers are making strong attempts to push the rates down but they are not succeeding that much, some fixtures were contradictory showing better money paid for loading out of the West Coast rather that the East one. In this cat & mouse atmosphere a couple of South Korean operators have managed to conclude at lower money 12 months period fixtures. Some enquiries are quoted from South
Africa but levels charterers are aiming to pay to attract tonnage from the Persian Gulf/Indian Ocean areas.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it