Capesize (Atlantic and Pacific)
It was a swinging week in the Capesize market: at the beginning of the week rates went up but then they lost ground between Thursday and Friday. Anyway, 5TC average gained $1,000/d closing the week at $19,900/d. Tubarao-Qingdao route reached $18.40/mt on Wednesday but then slowed down closing on Friday at $16.90/mt, hence less $0.60/mt from previous Friday. Saldanha Bay-Qingdao route followed a similar path gaining from Friday to Friday $0.50/mt and closing at $13.40/mt. Same trend on Brazilian RV but it closed the week at mid $17,000/d, as previous Friday. W Australia-Qingdao route was stronger: rates went from low $7/mt to $8.60/mt in 3 days but then they lost $0.40/mt straight the day after, after that rates were stable from Thursday at mid $8/mt. Pacific RV was more stable: it gained more than $5,000/d and closed the week at low $22,000/d. Quiet and stable week in the Atlantic basin: rates on Fronthaul remained at $35,000/d from Friday to Friday while rates on TransAtlantic were swinging from low and high $19,000/d closing the week at $19,250/d. Not much activity reported on period.
Panamax (Atlantic and Pacific)
Increasing rates in the Atlantic basin during the whole week due to a strong activity reported from USG. A large number of units made its way from Cont towards USG leaving few vessels in Baltic area: so units that remained in Cont enjoyed some healthy rates. A scrubber fitted Kamsarmax was rumoured at $16,500/d for a Baltic RV, with benefit on charterer’s account. It seemed that activity from BSea will improve due to a decent number of tenders awarded from BSea: not many fixtures were reported, a Kamsarmax was rumoured to be fixed but then it failed at $25,000/d with dely El Dekheila for a trip to China. Grain activity from ECSAm experienced some strong levels with a Kamsarmax fixed at $14,000/d from Spore for a ECSAm RV. The Pacific basin too benefitted from the healthy activity reported from USG: many units sailed towards Panama leaving a short position list in the Pacific area. This led to an increase in rates: a Kamsarmax was rumoured at $15,000/d for a trip EC Australia to India with dely Japan. Another Kamsarmax was reported at $14,000/d for a Pacific RV. USG was the driver market during the week: a unit was rumoured at $14,000/d with dely S Korea via Panama.
Handy (Far East/Pacific)
Rates kept decreasing in the area, both on Supramax and on Handysize units: chartering activity too was less busy compared to previous weeks. A 52,000 dwt with dely Vietnam was done at $8,250/d for a trip via Indonesia to China, a 56,000 dwt with dely S China was rumoured at $8,000/d for a trip via Philippines to China with nickel ore and the same rate was rumoured for a 53,000 dwt with dely mid China for a similar trip. A 53,000 dwt with dely Taiwan was rumoured at $7,000/d for a trip via Indonesia to SE Asia. Regarding West direction, a 61,000 dwt with dely Philippines was fixed at $8,000/d for a trip via Indonesia to India.
Handy (North Europe/Mediterranean)
The market in Cont had an uptrend on Handysize units. A 32,000 dwt basis dely dop N France failed at $10,500/d to Med; there after it was fixed at $10,750/d with scrap Cargo to E Med. A 35,000 dwt was fixed at $10,000/d with grain Cargo from Baltic to Algeria: the sentiment is that rates will increase due to a short position list in the area for liftings within mid August. In the Supramax and Ultramax segments it was a slow start of week: a 56,000 dwt was fixed at $10,250/d basis dely Skaw for a trip via Baltic to Turkey but at the end of week rates on the same route were rumoured at $12,000/d. Rates on trips to USG-NCSA were at $7,500/d, maybe a touch better depending on vessel’s design. Rates on trips inter Cont were rumoured at $9,000/d. Despite some rumours of a possible fall of the market in BSea/Med area, it was recorded a rise on the majority of the routes from BSea. Supramax units were fixed in the $20,500/21,000/d for trips to F East while Ultramax units were asking up to $24,000/d for the same biz. Some inter Med biz on voyage basis paid the equivalent of $10,000/d from Canakkale on Supramax units and rates on trips to Cont seemed to be around the same level. In the Handysize segment, a 33,000 dwt in Med was fixed for 5 to 7 months at $9,500/d and a 32,000 dwt asked $12,500/d for a trip to SAfr. On inter Med business, there were differences between what owners and charterers asked: right values should be around $8,500/d to E Med destination and $9,500/d to WMed. Rates on trips back to USG with cement Cargo were rumoured between $6,000/d and $7,000/d basis dely Canakkale.
Handy (USA/N.Atlantic/Lakes/S.America)
Rates in the Supramax and Ultramax segments decreased during the week: it seemed that demand was lower while the position list started getting slightly longer compared to previous week. On TransAtlantic RV, rates on Supramax units were in the $15,000/d while on Ultramax were in the $18,000/d. On Fronthaul, rates on Ultramax units were in the mid $20,000/d and on Supramax were close to $20,000/d. In the Handysize segment, after one week of dropping numbers, rates seemed to maintain the top reached some weeks before: on TransAtlantic RV, 32/35,000 dwt units were around $9/10,000/d while larger 36/39,000 dwt were in the $13,000/d. The market in ECSAm remained more or less stable compared to previous week, both on Handysize and on Supramax/Ultramax segments. On TransAtlantic RV, rates on Handies were still at $12,500/13,000/d and on Supramax units were more or less in the $13,500/14,000/d and around $1,500/d more on Ultramax units. Rates on trips to FEast remained more stable at $16/17,000/d. Not so much activity was reported to FEast direction but it seemed that rates remained more or less stable to this destination.
Handy (Indian Ocean/South Africa)
Slow demand and limited activity reported from MEG-WCI. A smaller Supramax open MEG was rumoured at mid $12,000/d for a trip to ECI and another one in WCI was fixed for a trip to Bangladesh at $11,000/d. The market in ECI was mostly dull during the first part of the week due to holidays in India on Monday. Towards mid-week few more new cargoes helped to stabilize the returns a bit, but on Friday not many new fixtures came to light. Early in the week, a Supramax was rumoured at $13,000/d for ECI-China and towards the end of the week a Supramax was fixed at $14,000/d for a similar trip. The market remained more or less similar to last done levels from Safr area: few prompt loaders were rumoured a tick lower than last done levels with returns around low $11,000/d + low 100,000 bb for SAfr coal to WCI/MEG range.
Banchero Costa and Co Spa
Email: research@bancosta.it
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