Capesize (Atlantic and Pacific)
The market was very stable with the BCI closing at 1,792, increased by only 13 points. The week concluded on a slightly positive note in the Far East with rates improving a few cents on West Australia to China, around $7.50/7.60 with BHP fixing even up to $7.85. On the other hand, the Atlantic rates were very stable with the PDM/Rotterdam fixing at about $9.10 and the time charter rates ranging at about $12,000 level. Although there were a few exceptions of business fixed at lower numbers, they usually have more favorable redeliveries. And the iron ore from Tubarao to Qingdao was running at about mid $19.00. There was little activity on period time charter, however one 174,000 tonner built 2007 reported fixed with delivery May 2011 for 2 years t/c at $17,250 daily by Cargill.
Panamax (Atlantic and Pacific)
The mood of the slowdown trend overshadowed the market with the BPI closing at 1,925. The Atlantic market underwent a sharp drop especially in the 2nd half of the week due to the lack of fresh inquiry and the pessimistic view from the grain houses. Fronthaul ex South America to the Far East was talked low at $24,500 plus bb and trip in the Atlantic was also done at about $15,500 level in the end of the week. However, the Atlantic period biz was done at a good rate: $23,500 for a LME for 5/7mos with 1st leg to Iraq. The Pacific market was influenced by the Atlantic - it saw a slow downwards trend while good rates still could be seen for a good positioned vessel. Nopac biz was evaluated at $16,000 and Indon round voyage at $15,500 to $16,000. Enquiries for short period in the Pacific still existed but rate went down to $16,000 - $16,500 for 4/6 mos.
Handy (Far East/Pacific)
This week saw the volume of coal from Indonesia to China reducing, with a negative effect on the Supramax rates. The nickel ore trade from that area to China was still substantial but not enough to stop rates from decreasing. Supramax owners could still enjoy a little optimism from charterers keeping their interest alive for short period. And several vessels were reported fixed at $1,000 daily over what the same types would get for a single trip in the area. Activity was quieter for smaller Handies which as well showed to be worth more for short period rather than single trips. An almost total lack of activity from the Pacific Americas and Australia did not help the negative trend to change.
Handy (North Europe/Mediterranean)
A sudden shortage of prompter tonnage available at north European ports, in connection with fresh scrap enquiry to the Med and fertilizers to the East, has brought some tension in this area. Rates started to improve and it was rumored that additional fresh chartering enquiries will come next week. Situation from the Med and the Black Sea was very much different with further reduced chartering demand and most of the owners were blasting out rather than taking the lousy rates which were agree for trip Black Sea/cont and short period.
Handy (USA/N.Atlantic/Lakes/S.America)
A lower demand to load coals from the U.S. Gulf and the north coast of South America has affected the Supramax Trans-Atlantic rates, which were also receiving a further negative impact by the ballasters coming out of the Black Sea and the Med still seeking employment. With a number of fresh enquires from South America to the west, the larger Handies enjoyed a rate improvement through the week and owners faced an easier life to get fixed dop west Africa or aps with more juicy ballast bonus. The levels for smaller Handies stayed much in line to previous dones, both from northern and southern hemisphere.
Handy (Indian Ocean/South Africa)
Export from South Africa was limited again. Because of the on-going slow mood on the iron ore export, Supramax rates from both Indian coasts suffered a downwards trend. No remarkable trade was seen for smaller tonnage but it was noticed that the volume of tonnage available in this area was smaller.
Banchero Costa and Co Spa
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