Capesize (Atlantic and Pacific)
Up and down market last week with a negative start and recovery towards the end. This was still due to the very large fixing activity of the 2 major Australian iron ore traders, Rio Tinto and BHP, who fixed almost 20 ships in the last week in the West Australian/China iron ore trade. Time charter rates were ranging from the low $ 170,000's upto $ 190,000 for the Far Eastern round voyages while the voyage rates were ranging between $ 37.50 and $ 38.00. Atlantic market instead was under pressure notwithstanding rates seen were in the $ 170,000 average for rounds and about $ 226/223,000 levels for fronthaul business while period fixture were quite scarce with few done on 5/7 months up to one year time-charter. Index closed the week with a loss of 83 points.
Panamax (Atlantic and Pacific)
Week started very slow in the Atlantic basin with rates dropping due to prompt ship available and fewer fresh orders, also many owners are under pressure to cover their ships before imminent holidays. On Pacific side many ships are seeking 'positional' voyages and looking for short trips, however still quite good demand for short period candidates.
Handy (Far East/Pacific)
A sudden shortage of tonnage demand since the starting of the week has progressively pushed down the market . Owners initial struggle trying to achieve previous levels shortly turned into a weak effort, and vessels are now generally getting fixed at lower rates. Supramax and Handymaxes are the sizes mostly affected. Better money is still paid for trips to Europe and generally smaller handies are keeping better rates.
Handy (North Europe/Mediterranean)
Scrap carriage from Continent to Eastern Mediterranean Sea dominated the chartering interest, and in combination with further demand for tonnage to load ex Americas pushed rates further up. Mediterranean and Black Sea activity showed to be more oriented towards smaller handies that kept fixing at quite stable levels for single trips and better money for periods employment.
Handy (USA/N.Atlantic/Lakes/S.America)
Available tonnage able to promptly load at Atlantic Americas ports keeps lacking more and more, charterers fixing frenzy remains unchanged, rates started rising since Monday. Charterers easily agree to pay huge money for tonnage delivering on the European side and rates/ballast bonuses paid to tonnage delivering on the loading coast have again reached quite shocking levels. On Friday a fresh flow of business immediately generated a further improvement.
Handy (Indian Ocean/South Africa)
Concluded activity was a little less in the area. Iron ore trade from Western coast of India is now paying better money to owners compared to the Eastern one. Rates on this trade anyhow remained generally good except for some huge contradictions in fixtures concluded out of the East coast which may show market is becoming a little more shaky there. Activity in the rest of the area was otherwise quiet.
Banchero Costa and Co Spa
Mail: research@bancosta.it
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