Capesize (Atlantic and Pacific)
Another record week the one just passed: plus 517 points on the Baltic Capesize Index. The average of the 4 T/c routes gained $7,790 and reached the amount of $114.143, the time-charter fronthaul route reached the record high of $144.000 and almost $120.000 for T/a round voyage, while Pacific rounds about $114/115.000 and backhaul rate about $88.000 !! However, the period rates are the one reaching astronomical levels: one 173.000 capesize was fixed for 11/13 months t/c at the rate of $100.000 daily and she was the re-letted (although still on subjects) for 5/7 months at $115.000 !! Long period deals are also very strong with Hanjin being reported having taken one Hyundai 180.000 dwt new building with delivery July-August 2009 at $45.000 gross. Richards Bay coal market is still stable at about $31/32 level while the coal ex E.C.Australia back to Continent is presently being fixed at about $41/41.50 and one ship has been fixed by Arcelor-Mittal to Constanza at about $41.00. T/a Iron Ore trade also still stable with the Tubarao/Rotterdam route still at about $30/30.50 and the Coal from Puerto Bolivar to Continent a little bit more at about $ 31/31.25.
Panamax (Atlantic and Pacific)
Market has shown no sign of let-up with firmer rates both for spot and period business in both basins. In the Atlantic, the shortage of tonnage continues to keep rates elevated. A transatlantic round voyage worth now $56,500 while similar rates are reached for short periods, old tonnage are also seeing very firm money, with an '80-built vessel making $41,000 daily for a trip out via ECSA. Pacific business heard that a NoPac round took $53,000 daily. Short period business firmly entrenched in the high-$40,000's daily. 1 year now done at $50,000 while 2 years high 30,000s with prompt delivery, the forward positions are well paid for long period 3/5 years.
Handy (Far East/Pacific)
If the one-week holidays observed by two major players of the area didn't affect the chartering trend, their return to business brought a lot more steam to the activity. Local trips and round voyages show firmer rates were paid, the only exception comes with the cement or clinker trips into West Africa, where charterers managed some money savings in exchange of the extremely strong market. Owners are supposed to enjoy afterwards for South America loading employments. Charterers period interest remained very much live but still limited to durations not exceeding the year.
Handy (North Europe/Mediterranean)
Market is good enough but the volume of the demand is still not large enough to yet push rates to levels similar to what could be achieved by same types from American or Pacific waters, even if the huge demand of tonnage for loading out of the US Gulf or South America still takes away tonnage from European waters. Black Sea looks firm enough, but there seems not to be yet enough enquiries for Supramaxes, whilst Supramaxes and Handies manage quick fixing at very good levels.
Handy (USA/N.Atlantic/Lakes/S.America)
It's getting difficult to follow and describe the further market growth from this area. Handymaxes have now been fixed at time-charter rates over $60,000 daily, both for trip into Med or into WC South America. Similar types fix $50,000 for trips to Far East and upper $40,000's for short period commitment. Handysizes have been leading the South American run with charterers easily taking delivery of tonnage on the West African coast and now starting also to agree East Africa dop basis, while daily t/c rates climbed to the $30,000 mark.
Handy (Indian Ocean/South Africa)
Charterers trying to make some final rush for WC Indian iron ore loading to China as their cost is predicted to shortly be hit by the monsoons, although no fixtures where reported from this side, it was rumored about a Supramax fetching around $50,000 on this run. Rates from EC India are in any case quite firm, also considering the more relaxed atmosphere, German operators paid a sky-high rate for a Supramax to load coal ex South Africa to India.
Banchero Costa and Co Spa
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