Capesize (Atlantic and Pacific)
Because of the coming holidays in Far East the activity slowed further. In Pacific West Australia round was around $7.6 level. The tonnage list remains robust with some owners dropping anchor awaiting for better market. From Far East someone decided to look for backhaul cargo or even ballasting toward Atlantic were rates were around $5,000 for round voyage. Front-haul business was also scarce: $19,35 reported for beginning of February dates. It was worth noting renewed period interest: 4 to 6 months delivery Far East were fixed at $13,350 and $12,500.
Panamax (Atlantic and Pacific)
The week started on a slow mood and maintained a downward trend with imminent holidays driving rates downwards faster and stronger. In Atlantic ballasters from the East increased tonnage offer and little new business emerged. In the Pacific basin rates remained under pressure with few fresh cargoes entering a market with a large tonnage availability; rates were very competitive. Fronthaul rates were around $ 20,000 + 350,000 aps USG and slightly above $20,000 for Continent/Far East. Baltic Panamax Index tumbled from 1206 to 1020 points and the timecharter average lost almost $1,500. Trans Atlantic round voyage rates broke the $10,000 threshold especially for business with good redelivery, Pacific remained in the $6,000/6,500 range for short rounds and $7,000/8,000 range for longer rounds, with a lot of fixtures done on an aps basis. Period is not seen with interest by owns that prefer to fix short trips and wait for February
market rather than going for poor period rates.
Handy (Far East/Pacific)
Owners hopes to see some additional enquiry before the holidays faded away causing a further collapse in rates. Supramax business was quite limited to loading ex South East Asia, mostly into China, with further low fixtures reported. An apparently nicer $20,000 agreed from WC Mexico to China is due to the fact that the vessel was ballasting from North China with abt 30 days steaming on owners shoulders. The small amount of backhaul business fixed was not reported, but it is known that owners have agreed to perform only against charterers paying for the bunkers and a Supramax fixed that basis even failed on subs. Two 57,000 dwt new buildings were booked for periods 3/3.5 years duration paying Usd 500 daily more than 3/5 months, now at $10,500.
Handy (North Europe/Mediterranean)
There was more interest for tonnage Ex BSea into Americas done at rates between $4,500/5,500 daily, irrespective for tonnage being Supramax or Handysize. The ongoing piracy problems that from Gulf of Aden are now affecting the full Indian Ocean area, still allowed tonnage trading these areas to fix firm rates. A trip with redelivery FEast was agreed at Usd 21,000 daily. Approaching the end of the week another Supra was rumoured at only $19,000 daily to do Bsea/FEast. From Northern Europe rates further deteriorated with enquiry lacking, especially for Handysizes. Larger units were reported at unattractive levels to East Med and a Supra was rumoured at $16,000 daily for a trip to East via Gulf of Aden, but still unconfirmed.
Handy (USA/N.Atlantic/Lakes/S.America)
Rates from US Gulf kept lowering through the week. From $18,000 daily to East Med ended up booking $13,500 to Morocco and Continent. Revived interest for FEast destination didn't help the market that decreased from $24,000 to $21,000 daily between the mid and the end of the week. WCSA direction was the only trade paying better. Supramax tonnage got better money for Transatlantic business from S. America with Handies doing even better. No business was reported from there to Feast, but there were rumours of a Supra fixing aps plus ballast bonus at an equivalent over USG levels
Handy (Indian Ocean/South Africa)
A standby on the Iranian iron ore exports allowed some charterers to fix again tonnage loading from India at lower rates. A Supramax was reported fixed WCIndia/China at $4,000 daily, with vessel ballasting from the other coast. A few fixtures were done also from South Africa with Eastbound rates decreasing further and coal round voyage back to India keeping at similar levels to trips India/China.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it