Capesize (Atlantic and Pacific)
Another week with a lot of activity in Capesize market resulting with + 719 points in the Baltic Capesize Index. One 180.000 dwt has been reported having fixed one fronthaul business at a rate of $180,000 daily which means a voyage rate equivalent of about $74/75 per ton on the Tubarao/Beilun+Baoshan iron ore run. Pacific market was also very active in principle with BHP and Rio Tinto in the market for several West Australia / China iron ore cargoes pushing the t/pac round level up to about $130,000 daily level. Atlantic, as usual, is suffering of scarcity of prompt open tonnage and as a consequence again increasing the T/a round up to about $133/134,000 daily.
Panamax (Atlantic and Pacific)
Very impressive week for the Panamaxes: period business is now dominating the market with rates increased more than $10,000 daily. This unbelievable strong market influenced both the spot rates and short period accordingly. No more gaps between Pacific and Atlantic and this were reflected in the values for 12 and 24-month employment of $70,000 and $60,000 respectively. Also forward dely period business with timecharter of 5/10 years long is under pressure.
Handy (Far East/Pacific)
Pacific area remained strong for the whole week. Both Handysizes and Handymaxes recorded firm rates for the round voyages (via NoPac and Aussie) and for trip to India and to Continent/Mediterranean. Most of the Handymaxes open in this area are showing a preference for intra Pacific biz.
Handy (North Europe/Mediterranean)
The first part of the week have seen a softening in the rates in this area, both from cont to US Gulf and Far East, and from Black Sea, Mediterranean to Far East and India, in the last two days market started again to go up and we have been able to see good numbers for all the directions. We saw also an improvement in the enquiry of tonnage for period.
Handy (USA/N.Atlantic/Lakes/S.America)
Rates continued to show a strong softening in the first part of the week, loosing even more than $1,000 daily. On Thursday rates started again to go up, and on Friday we saw a great improvement. Even from East Coast some rates remain firm and strong and we have seen also a good activity concerning long period deals.
Handy (Indian Ocean/South Africa)
Rates for iron ore from India to China remain high, as well as coal biz ex South Africa. It was fixed at a good rate also the costal biz for M/V Astra.
Banchero Costa and Co Spa
Mail: research@bancosta.it
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