Capesize (Atlantic and Pacific)
Capesize market last week trended sideways, but Time Charter equivalent rates improved a bit thanks to lower bunker prices. In Pacific, West Australia/China voyage saw improving levels for prompt dates: $6.90 was fixed for ETA 28th June. For middle of July laycan fixtures were still in the mid $6. In Atlantic, levels stood in the mid $4,000 for a round delivery Continent. Period activity reported some short period deals for 5/8 months del Far East between $9,500 and $10,000.
Panamax (Atlantic and Pacific)
The Atlantic market turned soft during the second half of the week because of a long tonnage list and limited cargoes. An LME in Passero was talked at $8,000 daily for transatlantic business with redelivery Skaw/Passero. Rates from US Gulf trip to Far East were talked at around $16,500 daily +650,000 ballast bonus and from East Coast South America at $16,000 daily + 600,000 bb because of the candidates ballasting from East. On the Pacific side, the market softened by the end of the week with Indonesia cargo rather limited. S. China candidates were talked at $7,000 daily for Indonesia or Australia round and vessels in N. China were done at similar level for NoPac business. Some vessels started to ballast to US Gulf expecting the beginning of US Gulf grain season. Short period was still at around $8,500 daily for 4/7 months.
Handy (Far East/Pacific)
Supramax activity carried on, especially for cargoes loading SE Asia to either China or India and agreed rates were slowly improving. This affected charterers' interest for short period with rates stabilizing in the low $10,000 daily level. Activity from Australia was still very quiet even though some fresh interest was seen ex North Pacific where at the beginning of the week a Supra was rumoured at $6,000 daily with delivery Far East and afterwards a rate of $7,000 daily was officially reported agreed by US charterers.
Handy (North Europe/Mediterranean)
A shortage of prompt, large Handies in North Europe kept rates firm. A quick trip to East Med was fixed at $22,000 and a short period, redelivery worldwide was done at $18,500 daily for short period redelivery world wide. A grain requirement from North France to West Africa had to take a vessel with delivery dop North Africa at quite an attractive rate. A 57,000 tonner was fixed for short period with dely Black Sea at much lower money, but we understand the vessel is not an Eco-type and unwilling to trade Gulf of Aden.
Handy (USA/N.Atlantic/Lakes/S.America)
The week started with quite a firm deal concluded for a trip with scrap from US Atlantic to East Med. Afterwards marked stabilized at slightly lower levels, but still with a good amount of business available for loading ex US Gulf and South America. A tess 52 type was rumored for a trip from US Gulf to Japan at $29,000 daily and was reported the next day at $26,500. A Supra was also fixed at a steady rate for short period from US Gulf with redely Atlantic. South America was even more active with improved rates for trips to East and more shaky levels paid for Atlantic trading. A 26,600 dwt unit 25+ years old was fixed at $12,500/day with dely aps NCSAm for an India coal trade.
Handy (Indian Ocean/South Africa)
It is still difficult for owners to find suitable employments due to low Indo rates and India/China iron ore trade still idle because of the monsoon season. A small charter interest from S. Africa allowed a non-eco type Supra to achieve $8,000 daily ex S. India via S. Africa and back to India.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it