Capesize (Atlantic and Pacific)
Once again the Capesize market remained pretty flat during the week. Pacific market was even quieter than previously: less coal cargoes were reported fixed from East Australia. From West Australia to China, charterers paid $4.25/mt and the volume of fixtures was good. Saldanha Bay/Qingdao kept on fixing around $7/mt levels and from Brazil rates stood in the high $9/mt for prompt dates. In North Atlantic there was a lack of demand for fronthaul cargoes. TransAtlantic RV was fixed around $5/mt. Period market was similarly quiet with vessels reported fixing flat rate plus 50% percentage of Index for about 1 year period.
Panamax (Atlantic and Pacific)
South American market is still the main driver of the Panamax market. Due to the considerable congestion at Brazilian and Argentinean ports charterers prefer to fix vessels basis dop: rates are around $7/7,500/d from Spore/Indian Ocean and around $11,750/12,000/d + 175/200,000 bb basis aps ECSAm. Some improvements were seen for ECSAm/Cont or Med with Kamsarmax fixed at $10,250/10,500 + 150,000 bb. A few vessels were fixed on those routes basis dely Passero Around $5,5/6,000/d. Few fixtures were reported from USG with lme around $14,500/d basis aps and from Cont around $10,750/d to F East. In Pacific activity was slow and rates positional with a long list of tonnage. Owners were considering the ballast option. NoPac RV was fixed around $5,000/d + 200,000 bb on lme. Indo RV was around $3,500/d on standard Panamax basis dely S China. Australia RV was in the $4,500/d basis dely dop China and closer to $5,000/d for Kamsarmax. Period was active, but a few few fixture were concluded, especially for very cheap units, a nice Kamsarmax dely Spore was fixed at $8,000/d for of 4/6 mons.
Handy (Far East/Pacific)
Supramax and Handysize indexes traded sideways through the week an all routes. Two Ultramax sister vessels were reported fixed for NoPac RV at $8,000/d and Australia RV at $9,000/d. Spot fixing basis SE Asia loadings showed a nice 58,000 dwt done at $6,500/d dely N China to load nickel ore back to China. A 53,000 dwt dely S India got $6,000/d to load coal from Indonesia back to WC India and a 48,000 dwt size delivering at S China got $6,250/d to load clinkers at Vietnam into the Philippines. Backhaul business showed a 35,500 dwt fixed at $6,650 from WC Nicaragua into Europe.
Handy (North Europe/Mediterranean)
Supramax market remained stable with a 57,000 dwt fixed at $10,150/d via N Europe with scrap to the B Sea and a 34,000 dwt agreed at $10,500/d from Russian Baltic to W Africa. Med/B Sea market remained a quite depressed with two Supramaxes booked on fronthaul employments at $7,250/d and $7,500/d while the grain trade ex B Sea stayed quiet.
Handy (USA/N.Atlantic/Lakes/S.America)
Supramax market ex USG and S America registered a smaller amount of reported fixtures, but it showed to keep well. A fancy 58,000 dwt was booked at $12,000/d for a trade from USG to Korea and a 52,000 dwt agreed $11,250/d to perform a trip from the same area into Algeria. S American market showed a 55000 dwt fixed at $12,500/d for a trip into the Cont and a very similar vessel agreed at $11,000/d into Algeria. Handysize from this area showed some positive signal, with a 32,800 dwt fixed at a fine $11,000/d for a trade to the Med and a 30,000 dwt done at $9,000/d plus $85,000 bb to the Cont, while a considerably lower $7,850 daily was reported at the end of the week for a 32,000 dwt from Brazil to Norway.
Handy (Indian Ocean/South Africa)
Most of the trades were still limited to few inter-gulf aggregates shipments with rates similar to previous week. A 55,400 dwt was fixed at $6,050/d meanwhile a 57,000 dwt managed to get out of the region fixing a limestone cargo into EC India accepted $5,250/d.
Banchero Costa and Co Spa
Email: research@bancosta.it
Internet: www.bancosta.it