Capesize (Atlantic and Pacific)
The Capesize market enjoyed another very positive week, with the BCI index soaring another 658 point to 8,643, equivalent to an 8.2 percent gain week on week. Already on Monday, the market got to a rosy start, with firmer rates reported in both basins. A trans-Atlantic round voyage was reported done at a firmer $99,000 daily. A West Australia round has made $80,000 daily, while a trip to the Atlantic with redelivery China fixed at $62,000 daily plus ballast bonus. During the week, increases were somewhat faster in the Atlantic than in the Pacific basin, and details of concluded business were harder to get. Towards the end of the week, a trans-Atlantic round made $96,000 daily, whilst a trip out made $89,500 daily for a trip via Saldanha or ECSA. A west coast Australia round was reportedly fixed at over $100,000 daily. Long-term period business of 5-year trading earned a new building a solid $47,000 daily for delivery in 2008/2009.
Panamax (Atlantic and Pacific)
The Panamax market is still firm for both basins. In the Atlantic despite not too fresh cargoes around, limited tonnage helped push numbers up, with a trip out fixed at $56,000 daily plus $1.1 million ballast bonus for modern tonnage while a transatlantic round voyage made $54/55,000 daily. Short period business of 4-6 months trading saw $54,500 daily. There is still a bit gap between two basins in favor of the Atlantic. However, Pacific market was said to be the more active in the last part of the week, with plenty of fresh inquiry, and again here rates are moving up as well with a NoPac round taking $48,500 daily. An east coast Australia round saw $46,000 daily. But it is the short period which is quickly rising with rates now around $50,000-$51,000 daily. The activity was very good also on longer periods of about one-year earning $46,000 daily in Pacific and close to $48,000 in Atlantic.
Handy (Far East/Pacific)
A slow start of the activity was followed by some mid of the week reports showing a larger chartering activity and slightly better rates agreed. The tonnage demand is still not enough compared to the volume of tonnage available which prevents rates to rise similarly to what has happened in certain Atlantic areas. Period interest goes on with Supramaxes now worth around the $40,000 mark for the year commitment and handysizes Ranging between mid and high 20,000's for shorter durations.
Handy (North Europe/Mediterranean)
The volume of fresh business is still small but owners showing strong resistance to consider low rates and prefer ballast their tonnage out for better chances to fix basis loading out of Atlantic Americas. A larger Handysize achieved quite decent money for a short period commitment.
Handy (USA/N.Atlantic/Lakes/S.America)
A consolidated firm trend has now more positively reflected on the Supramax rates booked on US Gulf/Far East trade. An already exciting start with a slightly in excess of $54,000 fixture, developed thru the week into larger money paid for similar types, ending up in a further $2,000 increase. Transatlantic and period rates remained extremely sound for owners' pockets.
Handy (Indian Ocean/South Africa)
Activity was still very little but the smaller amount of tonnage available in the area prevented rates to decrease further. Since some time owners have tried avoiding fix their tonnage into this area to avoid getting caught in the prospected idleness arisen by the monsoon season that which is now helping this market to somehow keep.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: http://www.bancosta.it/