Capesize (Atlantic and Pacific)
Up 900 points on the BCI last week but with a fall during the last couple of days. During last week we saw the biggest single day's rise in one year equivalent to about up 12 %! Then market started to fall. We saw fixtures in excess of $80,000 for fronthaul rates and upto $ 75,000 for trans-Atlantic round and in the East there were gains in the West Australia to China iron ore being fixed in excess of $ 14's which equivalent to about $ 50,000. There was also some activity on the short and medium period and the most remarkable fixture was a 179,000 dwt tonner reported having fixed 5 to 7 months time charter with delivery Continent at a rate of about $ 60,000 daily. The average of the 4 tc routes improved of $ 12,654 daily.
Panamax (Atlantic and Pacific)
Not a very good market this week with rates dropping in both basins: the Atlantic expected higher rates due to the hopes that the firmer Capesize market would trigger greater demand for Panamaxes with talk of splitting. So far this failed to materialize; instead, a building-up of tonnage in the Atlantic has added pressure to the market where no really fresh cargoes have been quoted. The same happened in the East where the rates eased with prompt tonnage struggling with the round voyage expected to slip below $30,000 daily. However there has been some fresh inquiry and suggestion that going-on the downward trend is limited. There was some short period activity with rates around $30,000 daily for 4 to 6 months trading. And there was talk of a 75,700 dwt 2010-built vessel fixing for two years at $25,250 daily, but it was reported failed.
Handy (Far East/Pacific)
With a lot of Supramax sized stems being moved from Indonesia to India the agreed time-charter rates for tonnage fixing basis delivery Far East showed some better figures for owners. On the other hand the on-going export crisis, which was affecting the iron ore trade India/China, attracted the tonnage available at East Coast India to look at the Indonesian coal at discounted rates. The rest of the activity was softer, but there were still some more interest for short period fixing on the large modern eco types, which showed to catch quite reasonable rates for owners in comparison with the spot market. Handy size business went on slowly but steady.
Handy (North Europe/Mediterranean)
A smaller number of reported fixtures is said to be actually hiding a bigger volume of activity, as most of the fixtures were said to have been concluded on confidential basis. The good enough reported rates for single trips, round voyages and short periods have confirmed that market is better than what is looks on the surface. The chartering demand out of the Black Sea went through some pause.
Handy (USA/N.Atlantic/Lakes/S.America)
North and South Atlantic Americas showed a very slow start of the week, with a lot of talks going on but fewer facts. And it happened around the European market, it was said that more fixtures were concluded on confidential basis. Still, it has to be noted that whilst the two fixtures reported from the Northern hemisphere showed agreed levels as firm as last dones, rates for South America loading business were trending sideways for the larger units and stayed firmer for the smaller Handies.
Handy (Indian Ocean/South Africa)
Charterers' interest to load iron ore from China to India was even drier this week with almost no firm business quoted. Owners of tonnage available in the area tried to look at MEG, South Africa and Indonesia loading, with charterers playing the hardball on rates.
Banchero Costa and Co Spa
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