Capesize (Atlantic and Pacific)
Again Capesize market concluded the week with a strong sentiment: plus Usd 6,103 on the 4 T/c routes and all areas, especially the Pacific, showing good activity. In the East, West Australia/China run voyage rates fixed were about Usd 17.00 but some charterers were able to take old ships and pay better rates. The Atlantic remained tight with Brazil/China cargoes done at least in the mid Usd 40 range. Time charter rates for trips to the East went over Usd 100,000 daily and a Transatlantic round have been concluded at Usd 81,000 daily.
Panamax (Atlantic and Pacific)
Another positive week in the Panamax sector in both basins, it seemed market reached a good stable state as numbers of vessels available well balanced the new inquiries. Some comments started to circulate about "market sustainability" at these levels. Short period business of 4-6 months trading was back, with $34,500 daily paid, and periods of about 1-year have seen $28,000 daily. For the Pacific basin, stronger rates were noted, along with some fixing and failing most likely by the end of week as some charterers hoped a favourable market for them in the following week.
Handy (Far East/Pacific)
A more unstable start of this market was experienced, with smaller chartering demand and a few fixtures failed on subjects. It proved to be just a small interval as shortly afterwards a number of supramaxes were reported fixing well in excess of usd 20,000 daily for local trips, while they were fetching 20,000 levels for North Pacific round voyages. Period fixing went on for these larger units as well, and were limited to durations not below 12 months at levels very similar to the ones owners would achieve for local single legged employments.
Handy (North Europe/Mediterranean)
The continuous flow of fresh enquiry for loading out of North European ports kept this area very attractive for owners. Especially owners of smaller handies enjoyed nice fixtures into the Med while activity for larger units was more dedicated to positioning trips. A similar volume of demand was seen out of the Black Sea, still concentrated on Middle East bound business for which rates showed not only to improve but also to allow owners attract charterers to agree deliveries out of the loading area.
Handy (USA/N.Atlantic/Lakes/S.America)
The activity showed to start in a sleepier atmosphere with little interest around the handies and lower rates for supramaxes. Shortly afterwards the demand, especially out of South America, showed to become larger compared to the available tonnage, leading the area back to more exiting activity and showing firmer rates agreed both for trans-Atlantic and the East bound business. This better market quickly showed to reflect in the USG area where high rate was seen again agreed for East bound business.
Handy (Indian Ocean/South Africa)
Activity kept growing on the India/China iron ore trade where interest was more for loading out of the West Coast. Supramax rates agreed from this loading range started to climb and at the end of the week it was predicted that the next large supramax reported fixture on this trade would show a daily timecharter figure starting with a "3". Things were not going similarly from the Eastern coast where some owners were considering ballast their tonnage to Australia for their next employment.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it