Capesize (Atlantic and Pacific)
Despite the negative effect of holidays, the Capesize market showed positive signs especially in the Atlantic. In the East, rates were constantly agreed at same level, key route West Australia/China was fixed at $7.50 and about $12 from East Australia. Less activity was reported from South Africa with levels stable in the mid $14. The market levels were slightly boosted by a lack of tonnage open in the Atlantic and slightly more cargoes available from Colombia. $5,000 was reported fixed for a round and charterers were talking close to $21 for Tubarao to Qingdao.
Panamax (Atlantic and Pacific)
The fresh Atlantic grain business was slightly limited in the past week thus the market went into a downward channel. For the Trans-Atlantic round, rate was talked at $14,000 to $14,500 daily plus $450,000 bb while for trip to the East, some LME in Italy asked $19,000 daily dop del. The market level was talked at $17,000+700,000 bb for ECSA grain business. The market was still expected to drop further. In the East, the market almost collapsed with rate decreasing every several hours. By the end of the week, some charterers were even aiming $8,500 daily for S.China LME for Aussie/S.China round. The spot candidates in the N.China was in a trouble since charterers started again to take vessel on aps del for Nopac business and passing Taiwan on Indonesia or Australia round. The short period market was rather quiet since most people thought that it was not the bottom. Some charterers were talking $10,000 daily for a good LME.
Handy (Far East/Pacific)
According to the latest news, companies which are able to provide a documentation showing they have made investments for commodity improved processing shall be allowed to keep exporting nickel ore. So the shipping community suggested that it will be necessary to publish a list of "approved companies" to prevent owners from falling in troubles with local authorities after they have loaded the cargo. All that and the largely celebrated Labour Day Holiday put the rates on hold, whilst the on-going large amount of open tonnage still allowed a good number of boats to get fixed. Supramaxes open North China were fixed well over the $10,000 mark for Southeast Asia nickel ore rounds. Slightly higher Time-Charter rates were agreed for similar types via Indonesia to India, as a partial compensation for ending up in an unattractive Indian Ocean market. Handysize market remained steady as usual, as well as the interest for loading bagged rice and sugar ex Southeast Asia. The latter commodity was earning more popularity among owners despite its long duration. The agreed rates were similar to levels which same vessels would get by fixing the shorter Pacific employment, with the benefit of ending up in the better Atlantic market.
Handy (North Europe/Mediterranean)
The market was severely affected by the general slowdown due to the Labour Day Holiday. The chartering interest was again very limited with a lack of fronthaul activity. Small money was agreed for a Supramax to load scrap from Northern Europe to the Turkish Med. It was rumoured that some vessels were agreed for backhaul business loading the Black Sea but no fixture details were available.
Handy (USA/N.Atlantic/Lakes/S.America)
The market here only shared the general slowdown of other areas for the first half of the week. As from Wednesday activity showed to rise. Firmer fixtures were reported for Supramaxes for short period delivery USG, trip from the same area to Scandinavia and fronthaul business to India ex Brazil. Handy-sized tonnage was fixed at better rates for a trip ex USG into West Coast Central America, and to load sugar from Brazil to the Egyptian Med on voyage basis. In spite of the good activity the number of reported fixtures was small, due to some fixtures were said to fail on subjects.
Handy (Indian Ocean/South Africa)
The market was still very inactive from these waters. Most of the larger size enquiries quoted as available for chartering was not firm. Owners of these vessels either fix trips loading ex Southeast Asia or Australia, or try to buy some time in the area by doing Indian coastal trades and short trips between India and the Middle East Gulf. For smaller Handies the demand was even smaller except the Bengal Bay area, it has the on-going demand for loading 20/25,000 tons of bagged rice from East Coast India or Myanmar to West Africa. Those voyage rates were said to be consistently rising.
Banchero Costa and Co Spa
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