Capesize (Atlantic and Pacific)
It was a positive week in the Capesize market with rates increasing, especially in the Pacific. The standard C5 route saw $4.35/mt fixed several times for early May dates. There was a quick improvement on Friday when $4.50-$4.60/mt was fixed basis eta West Australia for the 10th May onwards. The Saldanha Bay/Qingdao route stood at around $6.70/mt. There was some activity from Brazil, with $8.95/mt agreed for Tubarao/Qingdao of end of May dates. In the Atlantic, the presence of more requirements pushed charterers to pay more and $8,500-$9,000/d for transatlantic rv. Front haul basis delivery North Continent was at $15,000-$16,000. Period activity was more active, with $6,500 agreed for short period and $7,500 done for 1 year.
Panamax (Atlantic and Pacific)
In the Continent, levels remained strong throughout the week with Kamsarmaxes able to fix at $10,500/d basis delivery Amsterdam for trips via Murmansk to China. A 75,000 dwt loading China was reported having been fixed at $12,750/d basis Gibraltar delivery. In EC South America, Kamsarmax vessels have been fixing around $7,750/d plus $275,000 bb for trips to the Far East with the exception of an 82,000 dwt which was fixed at a good $8,000 plus $300,000 bb. An 80,000 dwt was reported having been fixed at $9,000 for Skaw/Gibraltar redelivery. In the Far East, NoPac rounds were being fixed at $5,500/d for a 82,000 dwt basis CJK delivery, while a 75,000 dwt was reported having been fixed at $6,000/d for a trip via Australia to India delivery South China and a 74,000 dwt was reported fixed at $5,650/d basis delivery Thailand redelivery Singapore/Japan. On the period front, an 82,000 dwt was fixed for a 1 year period at $5,850/d basis redelivery worldwide.
Handy (Far East/Pacific)
The ‘stand-by’ activity of the previous week brought a negative reflection on rates. No Pacific or Australia rounds were reported fixed. Spot shipment from the Far East showed an Ultramax delivery China booked for a trip via South Korea to Indonesia at $4,950/d and a 32,000 dwt delivery Japan booked to move steels to Vietnam at $5,000/d. Basis loading Indonesia, another Ultramax delivery Singapore carried coal to India at $7,250/d. Nickel ore from the Philippines to China was loaded on a 61,000 dwt at $6,000/d with delivery close to its loading place. Charterers’ fresh interest to take larger sizes for short period ended up with an Ultramax fixing $6,300/d basis delivery China, two Supramaxes were taken for a similar duration at $6,500/d delivery Singapore and $5,750/d delivery Vietnam.
Handy (North Europe/Mediterranean)
With a slightly stronger Black Sea market, a 60,000 dwt was done at $7,750/d for a trip via East Africa at $7,750/d, basis redelivery Durban. A 53,000 dwt delivering Turkish Black Sea got $8,000/d to bring a cargo into the Persian Gulf/WC India range. From the Med, a standard 56,000 dwt size delivering Tunisia fixed a trip via south Spain to West Africa at $8,000/d and an Ultramax got $9,000/d with delivery WC Italy to perform a similar voyage. No reports of concluded business were available for tonnage loading out of North Europe, where Supramax spot rates were said to have risen by about $1,000/d both for front and back haul business.
Handy (USA/N.Atlantic/Lakes/S.America)
There was increased interest from charterers to load coal and petcoke from the USG to the Middle East. An Ultramax booked to move petcoke to the Med got $8,250/d basis redelivery Spain. A nice 58,000 dwt was booked for short period at $7,250/d, basis delivery EC Mexico and redelivery Atlantic. Chartering from South America concentrated more on front haul and rates stayed similar to the previous week’s levels on all trades. An Ultramax booked a trip to Bangladesh at $10,500/d plus $100,000 bb. Another Ultramax delivery Brazil got $10,500/d plus $125,000 bb to move alumina into the Persian Gulf. A standard 57,000 dwt delivery River Plate entrance fixed $9,250/d plus $92,500 bb. On the transatlantic run, two Handysizes were done at $8,750/d and $7,750/d from Argentina to North Europe.
Handy (Indian Ocean/South Africa)
Most of the spot chartering interest concentrated on Supramax stems loading out of the MEG. A 57,000 dwt delivery Pakistan fixed a trip via the Persian Gulf to WC India at $7,650/d and another one got $5,500/d on the same trade. A third, delivering WC India, got $7,750/d to load MEG and redeliver in Bangladesh. An Ultramax delivering at its loading port, still in the Persian Gulf, booked a daily rate of $6,500/d with redelivery EC India. A 53,000 dwt moved iron ore from WC India to China at $4,100/d with delivery near to the loading area.
Banchero Costa and Co Spa
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