Capesize (Atlantic and Pacific)
Capesize Market is turning very difficult in the Far East with the West Australia to China rates ranging around Usd 8.50 level and the corresponding time charter below Usd 18,000. Backhaul TC rates at about Usd 12,000 make really difficult finding backhaul business at decent hire either via Australia or via Richards Bay. There was a little presume in the Atlantic because of the usual lack of vessels open in this area and a reduced number of ballasters into South America from the Far East. Period activity remained reduced: it has reported the Mv Besiktas Kazakhstan 169,200 dwt built 2010 was fixed for short period with delivery Far East prompt at a rate in the region of about Usd 25,000 daily only.
Panamax (Atlantic and Pacific)
The market was still quite divided in the past week, and the Baltic Exchange Index climbed a little everyday until Friday. Atlantic market kept firm as fresh inquiries continued to enter the market until the end of the week. Trans-Atlantic biz was very active with a school of fixtures done. Front haul is quite limited for few owners wanted to go to Far East. Pacific market struggled in the first several days until Thursday which became a little firmer. Limited new business was unable to cover so many open vessels in the East. Rates for Indon and Nopac round kept trending down until the end of the week. Some needs for short period emerged but rate was also quite separated between Atlantic and Pacific.
Handy (Far East/Pacific)
The Supramax coal trade from Indonesia to India dominated again the chartering activity for larger Handies available at the Far East ports. An initial number of vessels reported fixed with delivery north/central China at unattractive "low teens" TC level was followed by a couple of boats delivering in the loading area fixed at much higher levels, even taking into consideration the saved ballast expenses. Consequently, at the end of the week, the dropping China rates showed stabilizing to levels closer to the "mid teen" mark. Activity for larger Handies was otherwise limited with small short period interest stil there around $ 17,000 daily for 3/5 months. Even if the demand for smaller vessels was softer, the concluded fixtures keep showing a better trend.
Handy (North Europe/Mediterranean)
Demand for tonnage loading out of the Black Sea was small, with the Ukrainian wheat exportation still frozen leading to a further rate depression for the very few owners who still could manage finding fixable business from there. Also the Continent showed to be less active but the sudden coming of a heavy winter season brought straight affection to the Baltic ports compelling several charterers to pay much higher rates to secure tonnage which was able to trade outside the institute nautical limits and in several cases also ice-strengthened.
Handy (USA/N.Atlantic/Lakes/S.America)
Most of the fixtures concluded were kept confidential, but there is no doubt that the market out of the U.S Gulf is doing ok for the owners. The Supramax daily Time-charter rate for trip to the East peaked to a report of over $37,000 daily agreed. Same was followed by another similar enough vsl agreeing "only" $33,000 when owners must have been caught by some negative circumstances, as scrap charterer took from the same area a smaller 45,000 tonner at $30,000 to the Med. South America was not that less active but more positional, firmer fixtures over the reported ones were rumored to have been concluded, but no details emerged.
Handy (Indian Ocean/South Africa)
Iron ore Supramax Time-charter levels showed to level through the week to the mid teens level irrespective of loading out of west or east coast India. Before the weekend two larger units got fixed into the higher teens for loading west coast, while a smaller Supra agreed about usd $2,000 less for South African coal round. Employment for smaller Handies was still limited but rates resisted to previous week's levels.
Banchero Costa and Co Spa
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