Capesize (Atlantic and Pacific)
What's new on Capesize market? Can only say it is a mixture of bad news with floods, derailments, berth maintenance, Chinese New Year holidays, cyclones, Korea Line under court protection, increased of piracy attacks and threats of Suez closure which may follow the riots in Egypt etc etc. Rates in Far East and Atlantic are reaching the $ 5,000 and the Fronthaul only mid $ 16,000's with the Backhaul rate stil well under zero t/c equivalent. East Australia coal ports are slowly resuming working however a cyclone is expected to hit Hay Point. In addition next week Chinese New Year holidays from 2nd to 7th February may have another negative effect on the market which is expected to slide further. It will not surprise if some Owners will decide to Lay-up their vessels in Far East or in Singapore areas.
Panamax (Atlantic and Pacific)
Atlantic market continued to drop until the end of the week. Business to the East was said to be done at about Usd 20,000/day for a Cape Passero vessel. Transatlantic business was talked at about Usd 10,000/day to the end of the week but owners seemed unwilling to cover at this rate. Also Pacific business slid down for the whole week. A LME is said to fix at Usd 6,000/day and Indian RV biz is
talked at Usd 6,000 to Usd 7,000 level. Backhaul to the Atlantic was done at Usd 3,000/day and didn't drop significantly. Chinese New Year holiday influenced the Pacific market and most Chinese owners and charters were eager to cover the biz this week. Period biz was very active with rate at around Usd 14,000 daily and Oldendorff was said to take 6 period vessels.
Handy (Far East/Pacific)
The large number of Supramax fixtures reported is likely to be a consequence of an even larger volume of tonnage still seeking employment from this area, nevertheless fixtures confirm how much depressed this market is. With the exception of Usd 12,000 daily agreed for a couple of units fixed for 3/5 months, all single trips on larger handies are standing well below the Usd 10,000mark, irrespective of the trade. Business from South East Asia to India or from Far East to Atlantic were agreed even below Usd 5,000. The sole handysize deal reported concluded kept showing how better can proportionally be the rates for the smaller tonnage (even if the report was for a logger-type to load logs which deserves some premium for the vessel's fittings).
Handy (North Europe/Mediterranean)
The market was a bit more active for Handymax and Supramaxes loading ex BSea into the Middle East. TC rates in the middle, slightly upper 20,000's are not any longer that bad for ows, considering rates out of Atlantic Americas have decreased and that the positioning trip across is paying in the 6/7,000 Usd level. However there is some business for Gulf of Aden trading. In the first portion of the week Mid teens were seen for USG rounds and low teens for rounds via SA, but due to the decreasing American market no concluded business of this type was any more reported and rates for tonnage delivering this side are now probably lower. Similarly to other trading areas smaller Handies fixing from Med are getting paid closer to larger units. Period interest from the continent was extremely quiet.
Handy (USA/N.Atlantic/Lakes/S.America)
Owners excitement arising form the USG market rapidly cooled down through the week with Supramax rates initially slowing down to the Usd 29/30,000/d level and afterwards further decreasing to a mid 20,000's level. The excess of tonnage available enlarged by the ballasters from Far East is adding playing charterers game. SA was at last done levels, although smaller Handies struggled.
Handy (Indian Ocean/South Africa)
This trade, as usual, was dominated by India/China iron ore cargoes. Interest for tonnage was more for loading WC India, with rates similar to previous week or bit higher. Considering the very low money owners would have to face for a return leg, this rates are worse than what they may look like.
Banchero Costa and Co Spa
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