Capesize (Atlantic and Pacific)
The upward strength is still the direction in the Capesize market as rates on BCI reached 10,715 and the 4 t/c routes $127,033 daily. The continued request of tonnage in Atlantic is forcing charterers in need of ships to pay big numbers for ships coming from the East to load cargoes in Brazil. Trans-Atlantic rounds have reached the level of $128,682 while trip to Far East $168,142 daily, while Pacific rounds are running in the $117/118,000 level and backhaul business about $93,500 daily. Short/Medium period market is still very active with bigger ships fixing in the $130,000 level.
Panamax (Atlantic and Pacific)
Panamax business was active and firming for whole week. Rates for Atlantic business are moving up on all routes and period business. Demand for period business in the Pacific was steady, with rates moving up for both shorter and longer terms. Pacific spot rates also made fresh gains but still quite lower than Atlantic ones. However, the long period even if forward delivery remains very active with rates for two years delivery mid 2008 at over $50,000s while the one year with prompt delivery is now well over $60,000: therefore good market is expected either for 2008 and 2009.
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 remain strong also the inquiry for long terms period as we can see form the fixtures of MV "Madonna 3". The most of Handymaxes open in this area are showing a preference for intra Pacific business.
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 South America 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 business ex-South Africa. It was a good rate also the costal biz fixed by MV Astra.
Banchero Costa and Co Spa
Mail: research@bancosta.it