Capesize (Atlantic and Pacific)
Further 322 points gained during the last week which representing another 5.5 percent increase which added to the eight percent of the previous week are making a good 13-13.5 percent market increase in just 15 days: that is very good, especially from the owners point of view. However, more than increase on spot market, we especially seen in the past couple of days, the capsize market focusing on period activity, where in particular the 3 years rate was done at very close to about $48.000, the 2 years in the upper 50.000's mark, while the short period rates remained strong and approaching the upper 60.000's mark. Market remained strong in all sector however with the average of the 4 routes t/c reaching $71.869 and the
Brazil/
China iron ore route increasing of almost one dollar from the $34.75. Market however was showing some sign of weakness at the end of the week and therefore we will not be surprised to see a little market weakening by next week.
Panamax (Atlantic and Pacific)
Atlantic Market still uncertain which direction have to take: however some decent rates were reported, but there is quite a lot of early tonnage available and fresh inquiry still somewhat scarce. Port of Kamsar still closed by political problems in
Guinea and many ships being turned back into the market of course creating pressures. Grain cargoes were still in short supply although some suggested there was likely to be more business for February from
South America. Also Pacific is softer this week, fresh inquiries insufficient and not enough to absorb the number of ships open; a long list of early ships has now been fixed but there remained more to go with less prompt business now available. Despite that, seen concluded short period business fixed in the mid-$30,000's daily.
Handy (Far East/Pacific)
A few short period enquiries are still circulated but charterers appear to be more collecting proposals than fixing tonnage, the volume of concluded deals in this segment decreased considerably. Spot chartering interest is quieter as well, rates for trips from
Far East to the
Middle East decreased considerably, as a combined consequence of less activity in the Pacific and a firmer market out of
India.
Handy (North Europe/Mediterranean)
Much better money was paid for Supramax size run Black Sea to Persian Gulf where now rates leveled to the ones achievable for
Far East redelivery. Mediterranean and Black Sea waters were otherwise poor in demand but a firm market ex Americas still allowed owners induce charterers pay nice money for transatlantic and East bound trips, and take vessels on delivery on this side.
Handy (USA/N.Atlantic/Lakes/S.America)
The two sole concluded fixtures reported hide a larger and firmer activity from the
US Gulf where charterers go through long struggling in the attempt of trying get owners reduce a bit their rates. Low 40,000's is the presently ruling timecharter rates for Supramaxes to
Far East, and quite decent money has to be paid as well for fixing transatlantic business. South American market keeps a lot top secret, perhaps to hide some firmer fixtures finalized through the week.
Handy (Indian Ocean/South Africa)
Indian
iron ore to
China is growing back to full steam with agreed rates from both coasts loading well over $30,000 daily. Are the Chinese trying to grab all they can before their Chinese Lunar holidays? Some Handysize activity to the Atlantic keeps South
Africa alive but not kicking.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it