Capesize (Atlantic and Pacific)
A very healthy week was seen again with market having a significant positive turn. Rates recovered this week with the 4 t/c routes ending at just over $101,000. There were however signs of a weakening of activity by the end of the week perhaps due to the next holidays in Japan and South Korea.
Panamax (Atlantic and Pacific)
The market firmed again this week with record-breaking numbers emerging daily, the result of such a huge rates of today market is that many charterers are taking in tonnage for long period, and in some instances with forward delivery. The rate for a 74,000-tonner with last quarter delivery rose to $43,000 daily for two years. In the spot Atlantic market we are seeing a good mixture of round voyages and period interest with a short haul done at $72,500 daily while a Brazil/Middle East trip close to fixing at near $70,000 daily; short period with rate done at $60,000 for 5/7 months The Pacific also moved, but here owners are more keen to fix short periods rather than single trips where short period rates were hovering around the mid $50,000 daily range.
Handy (Far East/Pacific)
Fresh orders were put out and more fixtures were concluded, charterers' further interest for period remains quite alive. Rates for backhaul business stayed weak while reported fixtures on the run China/India showed a consistent improvement. Very good money was also paid to a large Handymax basis delivery in the East via North Pacific to Yemen, but owners may have to afford several days positioning expenses for her next employment. Owners keep showing better interest for short to medium period bookings were achievable rates are proportionally better. Smaller handies keep enjoying good rates for local business and keep turning down outbound business, creating serious difficulties to charterers involved with outbound requirements.
Handy (North Europe/Mediterranean)
Just a couple of short period Handymax fixtures were reported out of the Continent, one is good enough, the other one appears on the low side, perhaps due to elder vessel and delivery ex Baltic waters (although it was not reported where vessel will actually load). Even if the volume of the enquiry is not large enough, the scarcity of Handy tonnage within some size ranges manages to keep rates. A 35,000 tonner is said to have fixed in the very high 30,000's for a trip from the Continent to the Persian Gulf. Tonnage in size between 30/35,000 dwt is lacking. Activity from the Med was small and mostly limited to Handymaxes.
Handy (USA/N.Atlantic/Lakes/S.America)
Agreed rates for fixtures out of Atlantic Americas kept climbing also due to the on-going lack of available tonnage. Besides a bunch of firmer rates paid for a few concluded single fixtures a lot of excitement was brought to owners by a large Handymax agreeing $70,000 daily for a trip via US Gulf to the Adriatic, another getting $74,000 with delivery NCSA for a trip via US Gulf into WCCA and a modern 30,000 fixed at $54,000 daily basis delivery NCSA for a trip via US Gulf into the med. A 50,000 tonner was rumored having agreed $60,000 for a trip via US Gulf into India which, if correct, shows a little better deal for charters.
Handy (Indian Ocean/South Africa)
The huge lack of available tonnage in these waters still prevents rates to decrease. A Handymax fetched quite decent money for short period fixture. After a long interval another one was reported booked for trip India/China.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: http://www.bancosta.it/