Capesize (Atlantic and Pacific)
Negative week in the Capesize market: 5TC average softened from $19,900/d to $17,900/d with Tubarao-Qingdao and W Australia-Qingdao routes mainly affected by the market downturn. In the Pacific basin, W Australia-Qingdao route showed a noticeable drop: rates went from $8.43/mt to $7.25/mt for first half September dates and time charter equivalent rates went down to $17,000/d, mainly due to oversupply and less majors in the market looking for ships. Similar trend on Saldanha Bay-China trades: rates on Saldanha Bay-Qingdao route in fact were rumoured in the mid $13/mt, after losing $0.75/mt from previous week. Out of Brazil the market was pretty active: Vale and others took several units for end August up to full September dates. However, the long position list of ballasters pushed rates down: Tubarao-Qingdao route lost almost $1/mt ending at $17.11/mt with lower rates agreed for prompter laycans and at high $17/mt for second half September dates. In the Atlantic basin the market remained quite stable: few deals on Fronthaul were rumoured in the mid $30,000/d and rates on TransAtlantic were in the $18,000/d. Due to the uncertainty trend of the Capesize market, period activity was almost absent.
Panamax (Atlantic and Pacific)
A strong change in tone was recorded in the Atlantic basin: this was mainly driven by a quite rapidly decrease in rates in the N Atlantic together with a long position list in the area. A Kamsarmax was fixed at $20,000/d for a Baltic RV, while previous week the same trip was rumoured at $25/26,000/d. In ECSAm activity was close to zero with very few bids recorded. In the Pacific basin activity remained higher compared to the Atlantic: a fancy eco Kamsarmax was rumoured at $15,000/d for an Australia RV with coal cargo; Australian coal remained a strong supply for India with few vessels being fixed for such trip. A Kamsarmax was rumoured at $14,000/d for a trip Australia-India. Rates on NoPac remained stable: a Panamax was fixed at $11,500/d from N China.
Handy (Far East/Pacific)
Even though the number of fixtures in the area was limited, there were clear upward signs on Supramax rates. Rates on Ultramax units were rumoured at $8,750/d from SE Asia to WCI while a eco type 56,000 dwt with dely Philippines was rumoured at $10,500/d for a trip via Indonesia to full range China. Another similar unit with dely N China was rumoured at $9,000/d for an Indonesia RV with nickel ore and a 52,000 dwt with dely Philippines was fixed at $8,500/d for a trip via Indonesia to S China. A 63,400 dwt 2019 built open prompt Indonesia was fixed for one-year period at a rate slightly over $11,000/d. In the Handysize segment the trend was similar to previous week, even though a fancy 37,000 dwt was rumoured at $7,500/d from Japan to SE Asia. A 31,500 dwt with dely Thailand was fixed for a trip with bagged rice to W Africa at $5,000/d for first 65 days and $8,000/d thereafter.
Handy (North Europe/Mediterranean)
Firm market in Cont with good activity recorded, especially in the first part of the week: in the Handysize segment, some fixtures were driven by fertilizer cargoes fixed on 32,000 dwt units at $12,500/d basis dely Skaw for loading out of the Baltic to E Med. A 34,000 dwt was rumoured at $14,000/d with grain cargo out of the Baltic to W Med. In the Supramax segment, a fancy 55,000 dwt was rumoured at $13,000/d basis dely Skaw for a trip with coal Cargo to Turkey, 30/35 days duration wog. At the end of the week, the market stabilized a bit both on Handysize and on Supramax units. It was an other week of strong market in BSea/Med area: especially, rates in the Handysize segment skyrocketed in last few days. Few backhaul trips were done on 38,000 dwt units at $15,000/d basis dely dop Canakkale into USG, while rates on intra-Med biz were rumoured at $12,000/d basis dely dop Iskenderun for a BSea/Egypt-Med run. A 35,000 dwt was rumoured at $15,000/d basis dely dop Haifa to USEC with a bulk cement Cargo and a 39,000 dwt basis dely dop BSea was fixed in the mid $15,000/d with grain Cargo to Lisbon. Some Handies charterers struggled to find ships available for a BSea-Cont Cargo and they had to fix cargoes on Supramax units at $12,000/d.
Handy (USA/N.Atlantic/Lakes/S.America)
Upward trend in the Supramax and Ultramax segments: on TransAtlantic RV, rates were in the $16,000/d on Supramax units and in the $19,000/d on Ultramax. On Fronthaul, rates on Ultramax units were in the high $20,000/d and on Supramax were close to mid $20,000/d. Rates in the Handysize segment were similar to previous week on TransAtlantic RV: 32/35,000 dwt units were fixed around $11/12,000/d while larger 36/39,000 dwt were in the $14,000/d. In ECSAm the market showed a stable and slightly positive trend on all routes. In the Handysize segment, rates on TransAtlantic were rumoured around $12,500/12,600/d while rates on trips to F East remained more stable at $16,000/d. Supramax and Ultramax segments followed the same trend: rates on trips in the Atlantic were rumoured at $13,000/d on Supramax units and at $15,000/d on Ultramax. Not many fixtures heard on trips to F East: rates were still around $14,500/d + 450,000 bb on Supramax units and around $15/15,500/d + 500/550,000 bb on Ultramax.
Handy (Indian Ocean/South Africa)
Stronger values were recorded in the area on trips to China: from MEG/WCI range Ultramax units were rumoured at $20,000/d for trips to F East with dirty cargoes. A 58,000 dwt was rumoured at $15,000/d on similar route from WCI. On short period, a 58,000 dwt was rumoured at $12,000/d basis dely Sri Lanka and a Ultramax in WCI was rumoured at $13,000/d again on short period. Rates became stronger on ECI-China trips and seemed to soften a bit towards end of week. Ultramax units were fixed at mid $18,000/d - slightly under $19,000/d on trips out of ECI to China, 56/58,000 dwt units were fixed on this route at $17,000/d and smaller units at $16,000/d. A Ultramax was rumoured at $13,000/d basis dely S Vietnam on trips via ECI to China. Stronger rates were rumoured on SAfr-F East trips: few Ultramax units were fixed at mid $14,000/d+450,000 bb basis dely aps SAfr. Not much came to light from SAfr to Indian Ocean direction.
Banchero Costa and Co Spa
Email: research@bancosta.it
Internet: www.bancosta.it