Capesize (Atlantic and Pacific)
Another week with a positive trend market: plus 482 points on the Baltic Capesize Index and an increase of $ 6.351 on the 4 T/c routes which is again overpassing $ 100.000 mark and closing the week at a good $ 101.352. There were also few fixtures on time charter period confirming this positive trend. Many brokers forecast a very positive Capesize market for the coming autumn with a lot of activity and new breaking record.
Panamax (Atlantic and Pacific)
The week in Atlantic Panamax sector showed rates still very firm and tighter tonnage availability is supporting the market too especially in the period business which playing a major part. Records have again been broken and a 77,700-dwt 2005-built vessel agreed $51,000 daily for one year and with end January delivery 2008. The two-year rate reached $45,000 daily. Optimism remains for the coming week that this should at least be maintained. Tonnage remained tight for Capesizes, which should continue to lend support to the Panamax market. In the East, the spot rates remained bit slow in respect of short period which reflecting thee strong Atlantic market ie 4/6 months now done on a 1993-built 73,000 tonner at $59,500 daily. Several of the early ships were cleared out mid week, but next week could see a stronger and more balanced market.
Handy (Far East/Pacific)
Even if the chartering interest for single trips remained smaller, in general agreed rates were steady except for Pacific rounds via Americas which showed improvement. Also a smaller Handy fetched a pretty good rate for backhaul business into Atlantic Africa but being this size segment proportionally the strongest it's a little hard yet to judge if a similar improvement could be reflected to Handymaxes. Period chartering keeps being the major goal with a sound improvement on rates that lead to show a 52,000 tonner booked in the upper 40,000's for short duration.
Handy (North Europe/Mediterranean)
Smaller Handies have been mostly riding the Continental market getting higher money fort short period, trips across or round voyages, although the good rate paid for short period on a Supramax delivering in these waters showed market is back to being generally sound for owners. The trend was similar in the Southern European waters where Black Sea loading proved to be paying much better money both for Mid and Far East destinations and for trips across.
Handy (USA/N.Atlantic/Lakes/S.America)
A smaller activity in the first part of the week was not enough to refrain the Us Gulf market to raise further with a shocking Usd 72,000 daily reported paid to an aged 45,000 tonner For a trip into West Med. Rates to Eastern destinations are good enough but far from what could be achieved on trans-Atlantic employments. Here as well the smaller handies have been enjoying the firmest side of the market getting fixed at great money on rounds, trips out And period employments.
Handy (Indian Ocean/South Africa)
Better money was agreed on the India/China Handymax ore run while other charterers managed some savings by taking from the same area a larger unit for a one-year commitment. South Africa again showed a little activity, considering tonnage getting "re-positioned" afterwards; rates agreed were not so bad.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it