Capesize (Atlantic and Pacific)
Rates were falling all over the week. BCI dropped from 3517 points of week 6 to 3174 of last Friday (-10%), BCI was below the BPI. Still a lot of tonnage available in the East notwithstanding big players, BHP Billiton, Rio Tinto and FMG, fixed about 15 ships during the week, in a range between 9 and 9.75 dollars / ton. There was a lack of Fronthaul business from Brazil for which rates reached the mid 20's. Good activity was for the new top route Colombia / China with coal, the rates were around 32.50. Only one fixture has been reported for Richards Bay / Continent, which was done at usd 11. Ballasters from the East were putting pressure on the Trans-Atlantic round voyage. The timecharter round was in the low $30,000 daily range, there was limited activity on period.
Panamax (Atlantic and Pacific)
Better market rates in the Pacific where owners increased their rate ideas but this market has been largely driven by grain house demand for ships to load from the East coast South America. After the Chinese returning to work many operators expected more activity but no significant amount of business has been noted. In the Atlantic spot ships were keeping the market a bit down as they found difficulty to fix. Better situation was for forward position for which there was more demand. The South America market, however, was keeping the demand for short period quite high with good rates in both basin.
Handy (Far East/Pacific)
The Far East operators coming back from their long-lasting lunar holidays showed to be cautiously approaching business, which slowed down the reprise of the activity for the first couple of days of the week. Owners' resistance to lower rates initially generated some fixing and failing but shortly afterwards it is proved that the market in these waters was consolidating to a firmer trend. Several Supramaxes were booked for 3/5 or 4/6 months at rates reported to be in the low 20,000's usd daily level in the first days of the week, ending up close to 25,000 on Friday. Interest for single trip was more limited for the larger Handies while smaller units had much more to do. Rates for all sizes showed to progressively improve through the week.
Handy (North Europe/Mediterranean)
Activity showed to be on a lower profile this week, scrap from Northern Europe was limited for Handy-size stems for which agreed rates showed to be slightly weaker, and lower rates were for all sizes on employments positioning tonnage into the Atlantic Americas as well. Chartering interest was larger out of the Black Sea but charterers were not much successful in finalizing their booking due to tonnage either unable to trade ice affected ports or unable to perform voyage through the Gulf of Aden. Most of the area was said to be getting ice-free by end of the week which will give a better view about the actually available business previously "frozen" together with the sea. A 52,000 modern type was reported booked for short period at nice rate with delivery in the Central Med.
Handy (USA/N.Atlantic/Lakes/S.America)
The week started showing more enquiries out of the USG which generated a small rate increase. Due to the prevailing good rate levels for owners, the chartering interest for larger units was smaller on single trips with a larger concentration on short period through which charterers were trying to achieve better average deals, it brought the feeling that market will keep a firm trend from these areas and keep improving in the East. Smaller Handies were more actively chased by charterers for single employments within the Atlantic waters for which owners managed to fix at attractive rate.
Handy (Indian Ocean/South Africa)
The return-to-work of the Chinese operators after their lunar holidays brought a stronger impact to the India/China iron ore trade where the agreed daily time-charter rates quickly recovered to much more attractive levels for owners and kept growing through the week until reaching figures in the very high 30,000's for large modern types, encouraging owners to now ask for rates over 40,000 usd daily. Although activity appeared to be limited to this trade it positively reflected into a general firming up of the market with larger handy-size delivering in East Africa booked for short period at an attractive level.
Banchero Costa and Co Spa
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