Capesize (Atlantic and Pacific)
Last week the Capesize market was pretty quiet due to holidays at the end of the week. The standard West Australia/Qingdao route saw rates sliding to the low $7/mt range. However, more interests from East Coast Australia for the beginning May laycan were noticed. From Brazil the market was still under pressure due to a lack of fresh cargoes and last done was $18.25/mt basis early May dates. Few fixtures were reported from the Atlantic basin, with rates for TransAtlantic round voyage still in the $5,000/d range. However, at the end of the week some fresh requirements came out and charterers were willing to pay more, giving a better sentiment for next week. No period activity was reported.
Panamax (Atlantic and Pacific)
The TransAtlantic market started slow for the first days last week, with rates getting stronger day by day as new fresh cargoes gave a bit of positive support to the long position list. A few more cargoes were seen in the US Gulf compared to the previous week , but Atlantic market was mostly supported by grain cargoes out from ECSAm where fixtures were agreed at around $14,500/d+450,000 bb for trip to FEast and $11,000/d+150,000 bb for TransAtlantic RV. In Pacific, the rates still softened, with fixtures reported in $7,000/7,500 daily for Indonesia and closer to $8,000/8,500 daily for Australia and NoPac RV. Not many fixtures were reported for period activity, where rates for short period were agreed around the $12,000/d level
Handy (Far East/Pacific)
The Easter holidays slowed down further the chartering activity. The less affected and more active Pacific market remained the more active area, compared to other basins, with Supramax rates struggling to keep fixing at similar to previous ones. On local trade two Supra's were reported done at $9,000/d basis dely China to perform a trip via Indonesia into India, while with similar dely another one got $7,250/d to earn a better positioning at SE Asia were she will discharge a steel cargo. Another one got $9,000/d+$60,000 bb on aps dely Philippines to carry nickel ore into China. On backhaul business a 52,000 tonner agreed $8,000/d 1st 50 days and $12000 thereafter basis dely N. China and redel Mediterranean, a level quite in line with similar tonnage previously fixed with redel W. Africa, on period a new building Ultramax size got $14,000/d for a 4 to 6 months commitment. Handysizes showed better earnings, a 3 years old 28,000 tonner fixed a Philippines round voyage via Australia at a nice $8,500/d.
Handy (North Europe/Mediterranean)
Reported activity from this area was limited to some tonnage fixed form north Europe to eastern Mediterranean and BSea. Here as well the money escalation went the other way round with smaller tonnage achieving better earning. On this trade a 57,700 dwt earned a lower $10,000/d, a vessel about 12,000 tons smaller got a better $11,000/d, while a 17 years old 29,000 tonner got nice $ 10,000/d with dely at the Continent to load lumber from Baltic and discharge it likely at Egypt.
Handy (USA/N.Atlantic/Lakes/S.America)
A very small enquiry connected with the surplus of available tonnage in the area kicked the rates further away from acceptable levels. A 55600 tonner with prompt delivery at South America was agreed at only $12,250 daily for a trip into Nigeria, the $7,000 daily reported done on a 57,000 dwt delivering at Venezuela to perform a trip into Brazil is actually not meaning any improvement from the last week report at $4,250 daily for same trade, as the previously fixed vessel was an ‘ugly duckling' with 10 hold/hatches, very much drafted and with big fuel consumption. The $11,100 daily agreed for a fancy 35,000 tonner for a trip from Mississipi to west coast central America is not exciting but still showing that smaller units also here manage to fetch slightly better results.
Handy (Indian Ocean/South Africa)
The activity was very quiet as well in the Middle East waters from where the sole fixture reported showed $1,000 daily less agreed for a time charter trip with minerals from west coast India to China. Better money was rumoured to be available for shorter haul business between Arabian Gulf/Red Sea and Indian waters
while tonnage demand for loading ex South Africa was lacking.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it