Capesize (Atlantic and Pacific)
Another very positive week for Capesize tonnage with the major Charterers under pressure to find tonnage especially in Atlantic. Baltic Cape Index improved of 210 points and the 4 T/c routes reached $ 26,463, plus $ 2,564 which means an increase of almost 11 %. Rates reached $ 28.00 on the Tubarao/Qingdao iron ore route, but also in Far East there was good activity and the usual producers BHP Billiton and Rio Tinto fixed $ 12.00 level for Dampier to Qingdao with the corresponding T/c Pacific round being fixed at about $ 26,000 level. South Africa was good as well with relatively more iron ore business concluded by Chinese and rates for Saldanha Bay to China improved up to $ 19.00 range. Short period activity was also active with a few fixture reported for 4/6 and 5/7 months at rates between $ 18,500 and 19,000 for modern 175/177.000 dwt ships.
Panamax (Atlantic and Pacific)
The Atlantic market softened during the past week despite some resistance of further downward trend in the end. Due to the lack of fresh cargoes fronthaul business ex USG fell to $24,000 plus $450kbb level while transatlantic round was being talked at low teens. The Pacific side was still talked hot with LME in S.China done at $13,000 to $14,000 daily for Indonesia or W.Aussie round. Tonnage in Northern position was even more tight, with Nopac fixture done at $14,000 for Japan positioned vessel. Short period market was still firm with fixtures done at $13,500 to $14,000 daily level.
Handy (Far East/Pacific)
Activity improved again together with short period interest. Short period rates for Supramaxes were slightly higher whilst spot chartering showed contradictory rates probably linked to positional matters. More and more vessels were fixed for coal trips via Indonesia to China and a Supramax was said to have fixed at Usd 13,250 daily for a trip via Malaysia into the Persian Gulf. Activity for smaller Handies improved, but no further details were available.
Handy (North Europe/Mediterranean)
Supramaxes for trips Ex Cont to East via Gulf of Aden were around Usd 25,000 daily, this would mean that smaller Handies are still worth a premium, considering the reported well-aged 37,000 tonner which was reported to have fetched a good $18,000 daily for a trip to India via Cape of Good Hope (which will involve about two weeks additional). Handymax scrap cargoes from North Europe to East Med kept running with fixtures concluded at levels quite similar to last week. No fixtures available for trip out, that however is described an active and improving spot.
Handy (USA/N.Atlantic/Lakes/S.America)
At first Supramax market was very much positional both from South America and USG, allowing charterers to achieve a couple of cheaper fixtures on the Transatlantic run. Afterwards the trade stabilized showing rates holding steady to previous weeks levels, while a new front-haul fixture from USG to Far East was agreed at a quite firm level. Reports for smaller Handies were lacking also in connection with the slow and unattractive market going on for these sizes.
Handy (Indian Ocean/South Africa)
Market remained unchanged, with a much smaller amount of iron ore reported fixed from India to China. Unchanged was also the timecharter value agreed for Supramax business South Africa/Far Eeast, whilst an Handymax agreed a very low rate for a trip via Bangladesh to Brazil. There were a lot of iron ore requirements on voyage basis, both Handy and Spramax size, quoted for loading Iran and discharging China for several accounts, most of which poorly know. It is not clear if these requirements are getting fixed.
Banchero Costa and Co Spa
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