August 28, 2017 – September 1, 2017 Weekly market report.. Banchero Costa

Wednesday, 06 September 2017 09:48:19 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific)

The Capesize market remained fairly supported in Pacific where, despite some volatility, rates went from low $7s/mt to high $6s/mt and then back up to low $7s/mt at the end of the week on the key route West Australia to Qingdao. Iron ore prices remained at healthy levels and miners pushed to ship more and more. There was a rumour that 9 or 10 cargoes from Brazil to China for September dates, were relet by Vale to major operators. Out of Brazil the tone was quieter; same as in Atlantic were volume were somehow thin and market stable.

Panamax (Atlantic and Pacific)

South American rates remained at good levels with many charterers still taking ships from the Pacific and the Indian Oceans: nice modern vessels were fixed from Singapore for an ECSAm round voyage at $13/14,000/d and a 2005 built LME went at $12,200/d with the same dely. In Atlantic the USG area is under pressure on prompt dates, but also for September and October dates. Many charts were taking vessels in ballast from the Pacific. North Atlantic remained calm with cargoes in short supply and owners appeared to be discounting for short rounds. A 10-year old 77,000 dwt was fixed from Skaw via Murmansk to Amsterdam at $9,500/d. In F East, rates remained unchanged with owners considering to ballast to ECSAm and USG. A 2002 built 74,000 dwt open Donghae was fixed for a NoPac RV at $9,250/d. The period market was active with a 2013 built 81,000 dwt fixed at $11,500/d for 6/8 months trading basis dely Qinhuangdao.

Handy (Far East/Pacific)

A good amount of Supramax/Ultramax fixtures showed rates improving some $2/300/d. Several units were booked to load nickel ore from the Philippines to China. A 57,000 dwt got $11,600/d basis dely Hong Kong and a similar unit got $9,500/d basis dely N China. Afterwards a 61,000 dwt achieved $11,500/d basis dely EC China. Supramax rates on the Indonesia to China coal trade were ranging between $8,750 to $9,250/d. Indonesian coal was also shipped to India, a standard 55,000 dwt with dely Vietnam got $8,800/d and another unit got $9,200/d from Thailand, both units with redely WC India. A 53,000 dwt with dely Philippines was fixed for a trip via Australia to Spore/Japan range at $10,500/d. Short duration trip inter SE Asia showed stronger rates a 56,000 dwt with dely at load port fixed at $12,750/d and a slightly larger unit got $11,700/d basis dely Spore. A 56,800 dwt non-eco type with dely S China was fixed for 3/5 months at $10,000/d.

Handy (North Europe/Mediterranean)

Steady fronthaul trades from BSea and Med showed a 63,000 dwt with dely Canakkale fixed for a trip via BSea to F East at $20,000/d and a non-eco type 57,000 dwt fixed from Morocco to India at $17,000/d. Clinker to WAfrica paid $11,900/d for a Tess-52 with good dely and a large Ultramax was booked for 4/6 months at $14,500/d with dely Canary Islands. Backhaul trades from this area reported a 33,600 dwt with dely Canakkale getting $7,250/d for 40 days and $9,750/d balance duration on a trip with steels via BSea to USG. The chartering trend from N Europe was not as bright. The week started reporting a 58,000 dwt loading scrap from Germany to E Med at $8,750/d, then a 53,000 dwt was booked at a much more acceptable $10,750/d on the same trade. From same loading area a 53,400 dwt with prompt dely got $10,750/d for 2/3 laden legs and redely Atlantic. Handy size activity was similarly limited from these waters: a 38,000 dwt with dely Belgium was fixed with fertilizers from St Petersburg to ECSAm at $7,250/d for 45 days and $8,250/d balance. A slightly smaller vessel with similar delivery got $7,000/d for a trip via Baltic and back to Cont.

Handy (USA/N.Atlantic/Lakes/S.America)

News about concluded fixtures from this area was very limited. Softer TransAtlantic showed a 55,600 dwt fixed at a bit lower $13,000/d for a trip to Med with petcoke. Handysizes were reported at levels similar to the previous week. A large Ultramax got $14,500/d + 450,000 bb basis dely ECSAm to perform a trip to Far East showing that rates from this area did not drop; with similar delivery a 38,000 dwt was fixed for a trip to F East at $13,500/d with no bb.

Handy (Indian Ocean/South Africa)

Activity improved on the trade from Middle East to China; a 58,000 dwt with dely close to its loading port to WC India got $10,250/d for a trip to China. A less fuel efficient 56,700 dwt was taken with a similar dely at an higher $13,350/d for a trip via Iran and same redely and a 39,000 dwt got $10,500/d from Pakistan to F East. A 56,800 dwt non fuel efficient with dely S India was booked at a more attractive $11,500/d for 4/6 months period.

Banchero Costa and Co Spa

Email: research@bancosta.it
Internet: www.bancosta.it


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