Capesize (Atlantic and Pacific)
The Capesize market was still under pressure during the week. 5TC average went down quite a lot: it lost more than $2,000/d from Friday to Friday closing at mid $16,000/d. In the Pacific basin the sentiment was quite negative: W Australia-Qingdao lost $1/mt closing on Friday at $7.05/mt for end September laycan. Pacific RV was in free fall: rates went from $20,000/d to $16,000/d. Tubarao-Qingdao route followed the same path: it lost $1.5/mt reaching mid $16/mt with some fixtures done in the middle of the week at $16.90/mt for very end Sept/early Oct laycan. Brazilian RV was in free fall as well: it lost $2,500/d from Friday to Friday closing at $16,500/d. Saldanha Bay-Qingdao route went down too going from high to sub $13/mt. The Atlantic basin was a bit more active but rates went slightly down as well: Fronthaul lost $1,000/d touching $33,000/d. TransAtlantic was a bit more swinging: it lost $1,000/d on Monday, then it increased a bit and on Friday it went again down around high $14,000/d. Due to the unstable market, not much activity was reported on period.
Panamax (Atlantic and Pacific)
In the Baltic area the long position list pushed rates down: rates on short Baltic RV were penalized by this over supply and Kamsarmaxes were fixed in the $13,000/d. On Fronthaul, a Kamsarmax was fixed at $26,500/d for a trip USEC-Japan basis dely dop Gibraltar. On longer hauls, a Kamsarmax was fixed at $17,000/d dely aps to Cont and at $18,000/d to Med. BSea basin was also quite active but the increasing number of units together with the falling paper market affected rates: a Kamsarmax was fixed at $24,500/d from East Med and a Panamax was fixed little below $22,000/d. ECSAm restored its activity: a Kamsarmax was fixed over $16,000/d + 600,000 bb basis dely aps and a Panamax was fixed at $15,000/d basis dely retro India. The market in the Pacific basin was a bit softer: a NoPac coal cargo was covered by a Kamsarmax at low $14,000/d basis dely dop Japan. Australian coal was a major driver in the Pacific basin: a Kamsarmax was fixed at low $13,000/d for a Pacific RV and another Kamsarmax was rumoured at mid $14,000/d basis dely dop Japan for Australia-India. Limited activity from USG and Indonesia: a Panamax was fixed at mid $12,000/d basis dely dop S China for Indo-India. A Post Panamax was fixed at $16,500/d basis dely dop ECI on SAfr-China with minerals. From MEG few parcels of limestone were sold to India: one of the shipments was covered with a Panamax at $19,500/d basis dely dop Fujairah.
Handy (Far East/Pacific)
The market in F East remained substantially stable, except in the last days of the week when rates started increasing a bit both on Supramax and on Handysize units, especially to N China direction. A 58,000 dwt with dely S China was rumoured at $12,000/d for a trip via Philippines to China with nickel and a 58,000 dwt with dely Philippines was fixed at the same rate for a trip via Indonesia to China and a 56,000 dwt with dely S China for another trip via Philippines to China with nickel ore. A 56,000 dwt with dely Philippines was fixed at $9,250/d for a trip via Indonesia to Thailand. Regarding West direction, a 63,000 dwt with dely mid China was fixed at $7,000/d for a trip via Indonesia to WCI and a 61,000 dwt with dely Thailand was rumoured at $8,600/d for the same trip.
Handy (North Europe/Mediterranean)
The market in Cont was still strong both on Handysize and on Supramax units. A nice 28,000 dwt was fixed basis dely Casablanca via Cont to Durban at $10,300/d probably with agriproducts: this showed a big figure if converted on aps rate. In the Supramax segment, scrap cargoes were the main drivers: a fancy 58,000 dwt was fixed at $15,000/d for one trip with scrap into E Med, 30 days duration wog. A Tess 52 was rumoured at $13,000/d basis dely dop Valencia for a trip via N France to E Med with scrap too: these two fixtures showed how firm was the market during the week on this size. Some players thought the surge from Med was coming to an end by showing some softening signs: the reality is that we witnessed another positive week in every sector. More excitement reported in the Supramax and Ultramax segments. Rates from Canakkale were rumoured at $14,000/d level at the beginning of the week, thanks to a rise in enquires for cargoes to WAfr: a 56,000 dwt was rumoured at $16,000/d on Thursday. A 46,000 dwt was reported at $14,650/d for a trip via BSea and Dar Es Salaam with redely Cape Town.
Handy (USA/N.Atlantic/Lakes/S.America)
Despite the softening sentiment reported in the Supramax and Ultramax segments, rates did not decrease yet. On TransAtlantic RV, rates on Supramax were still in the $16,000/d and on Ultramax in the $17,500/18,000/d. On Fronthaul, rates were in the mid/high $20,000/d on Ultramax units and close to mid/low $20,000/d on Supramax. In the Handysize segment rates softened too even if a decent level of activity was recorded: on TransAtlantic RV, 32/35,000 dwt units were fixed around $10,000/d while larger 36/39,000 dwt were in the $13,000/d. The market in ECSAm showed two different scenarios: on Handies expectations decreased sensibly while on Supramax and on Ultramax units it was recorded a positive trend. On Handies, rates on TransAtlantic RV decreased going from $13,500/d to $12,000/d, while on trips to FEast remained pretty stable around $16,000/d level. Rates on Brazilian coastal trips were done in the $10,500/11,000/d aps/dop range. It was a positive week in the Atlantic basin: rates on Supramax were around $17,000/d while on Ultramax at $17,500/18,000/d. Rates on trips to F East were rumoured at $15,000/d+500,000 bb on Supramax units and at $15,500/d+550,000 bb on Ultramax, even if not many fixtures were rumoured at these levels.
Handy (Indian Ocean/South Africa)
Over all during the week there was comparatively less activity reported in the area. Rates in MEG/WCI range for trips within the area or with East destination decreased a bit. On Supramax units rates on trips from MEG to Bangladesh were around $12-mid$12,000/d basis dely dop Pakistan/WCI. On MEG-India biz, rates were rumoured around $13/14,000 basis dely aps loadport in MEG with India redely. Not much came to light from WCI over the week. From ECI, Supramax units were fixed around $12,500/13,000/d level. From SAfr the market remained similar to previous week with eco Supramax/Ultramax units rumoured around $12,500/d+250,000 bb for SAfr-Pakistan/WCI and over $13,000/d+300,000 bb for trips to China.
Banchero Costa and Co Spa
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