Weekly detailed analysis of world shipping freight markets for all major routes for April 11- April 17, 2011
Capesize (Atlantic and Pacific)
The market improved a little but only in the Far East on the iron ore from West Australia to China, but overall it remained weak with few prospects of improvement in the short term. Trans-Atlantic time charter rates were further lowering to reach the $ 5,000 done by Oldendorff on a new building 179,000 dwt built 2011, the Mv Pacific Seafarer fixed for one round with delivery Cape Passero 15/20 April and redelivery Skaw/Passero range. Earlier in the week Cargill took another modern 179,000 dwt for one Pacific round at $ 7,000 daily. Period rates continued to slide with the M/v Mineral Haiku, 182,000 dwt built 2010, fixed for 11/13 months t/c with delivery Japan 15/20 April at $ 12,250 by J.Aron. The BCI 4 T/c routes have fallen down to $ 6,855 daily.
Panamax (Atlantic and Pacific)
The market still performed terribly with rates for both sides dropping for the whole week long. In the Atlantic, the downward trend for biz to the East went slow to end the week while biz ex USG was still at scarce. A fronthaul trip was talked at $23,000 plus 475,000bb. Some charterers were still more willing to take vessels from the East with lower rate. Biz in the Atlantic was also evaluated at low tens but some vessel was said to be fixed at a very good rate like almost mid teens plus bb. From the Pacific side, market slid down significantly due to the overwhelming number of open candidates and insufficient demand. For Indon biz, charters were talking utmost $9,000 level by the end of the week for a S.China positioned LME and only a little more for Nopac biz, fetching about $10,000. Period biz also dropped to $14,500 level for a 4/6 mos biz.
Handy (Far East/Pacific)
Spot chartering activity remained limited throughout the week, leading to a smaller number of reported concluded fixtures. The fewer enquiries to load nickel ore out of Indonesia back to China didn't prevent vessel to get fixed at a good $18,000 daily with delivery North China. But that was largely due to the general reluctance to load this commodity. The similar types fixing coal via Indonesia to India achieved lower money compared to the previous week, with Supramax rates now getting closer to the Atlantic backhaul business. Charterers kept showing interest to take larger Handies for 3/5 or 4/6 months period employment at levels similar to previous week or slightly improved on some fixtures.
Handy (North Europe/Mediterranean)
Very small chartering interest around the European coasts with a very quiet mood in the Mediterranean and the Black Sea waters. An aged Handysize was fixed at unattractive money for a trip into the Red Sea. Activity was sleepy from the Continent as well where, a "still alive" interest for Handysize scrap stems to the Cont kept the Handysize rates in a reasonable mood for owners.
Handy (USA/N.Atlantic/Lakes/S.America)
There was less business available from the U.S. Gulf, and ballasters from Europe kept Supramax rates from enjoying any improvement. A very low figure was agreed for a trip into India. Supramax Trans-Atlantic rate stayed in the low $ 20,000 region and short period interest was still available from charters with some modern tonnage fetching high teens basis redelivery Atlantic. Rumors of some improving activity from this area at mid-week ended up into a bubble and the trend closed quite similar to the week's opening. Rates for the larger units were similar/slightly better although their tonnage were more fixed at equivalent levels basis delivery dop Europe/Africa. Smaller sizes fixing ex Latin America kept enjoying the better slice of this market.
Handy (Indian Ocean/South Africa)
There was a little more interest to move Supramax sized iron ore from India to China which consolidated previous week's rate. And the actually agreed levels were extremely similar to what the same vessel would achieve for a South Africa/ to the Continent trip. At the week's closing it was rumored that a modern 50,000 tonner was talked at around $12,500 dely India for a South African round with coal.
Banchero Costa and Co Spa
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