Capesize (Atlantic and Pacific)
Despite a very busy opening, Capesize index fell 7% last week closing at 1813 points, back to end of June levels. In Atlantic rates remained weak below the $6,000/d levels also affected by Puerto Drummond strike. Fronthaul fixed in the $20/20.25 per mt but charterer were ready to break those levels at the end of the week. A ballaster from East was fixed at $14,750/d + bb to cover the bunker expenses. In Pacific rates were stronger at the beginning of the week with W Australia/China trade that reported good levels at around 8.80/8.90 pmt and rumours suggesting that a $9/mt might have been agreed; It come down to low $8/mt at the end of the week. Pacific RV was concluded at $15,5/16,000 daily for units with good speed and consumptions. Trips from S Africa to FEast remained fairly stable. Period rates are still at good levels with a vessel fixed at $14,000/d for 4/7 months.
Panamax (Atlantic and Pacific)
Improved activity in E Med and BSea allowed operators to develop 2 legs schemes, at around $10,500/d, combining these cargoes with those out Kamsar that was also quite active for Cont, Med and BSea destinations. Activity in Baltic Sea was very quiet and fixtures were reported in the mid/low $9,000/d. On the USG/FEast trade fixtures were in the mid/low $15,000/d + 525/550,000 bb for end of August dates. ECSAm/FEast was still fixed in the $15,000/d + 500,000 region, but activity was slower with reduced cargo availability. For this reason some ballasters agreed and fixed S African cargoes to India or China. The activity in Pacific was still steady, but a bit slower, with a few NoPac and a number of Indo or Australian cargoes that however are experiencing larger tonnage availability since ballast voyage to ECSAm is not much of an option anymore.
Handy (Far East/Pacific)
Demand slowed on all sizes limiting the number of fixtures reported and pushing down rates. Demand from Indonesia in particular was much smaller with only two trips fixed: a 53,000 dwt dely EC India to China achieved $6,600/d and a 56,000 dwt with better dely passing Spore to China at $11,000/d. From Australia a Tess 52 agreed only $8,500/d + 150,000 bb basis dely aps Bundbury for a trip to Persian Gulf. The negative trend affected backhaul business where a 56,000 dwt agreed $4,000/d for 65 days and $8,100/d for the balance to perform N China to West Europe. A slightly larger units agreed $5,000/d + 300,000 bb basis dely British Columbia for a trip to UK. Short period was better with a fancy 58,000 dwt agreeing $9,250/d for 3/5 months basis dely Taiwan. Only one fixture was reported on smaller sizes showing the negative trend is affecting also that market.
Handy (North Europe/Mediterranean)
Activity from this area was very slow to emerge. Only one 27,000 tonner was reported from Cont for a White Sea RV with redely Cont at $7,000/d. No deals were reported out of Med and Black Sea. The latter was still described as being active and firming, this week more concentrated on bulk agri-products, to East and mostly to N Africa, W Med and Cont.
Handy (USA/N.Atlantic/Lakes/S.America)
Supramax rates for TransAtlantic business softened. A vessel booked into the E Med with scrap at just $17,250/d and another with grains to the same area at $16,500/d. A fancy 58,000 achieved $15,000/d redelivered Brazil, but that was mostly due to the fact that Supramax business loading out ECSAm started lacking. Approaching the end of the week there was a rumor about a large Supramax booked from USG to E Med at around $20,000/d, but no confirmation available. On smaller units a fancy 38000 tonner agreed unattractive $11,400/d to perfor a trip from USG to Brazil and a 35,000 tonner fixed 3/5 months period at $ 11,250/d with the same dely area and redely Continent. A fancy 34,000 tonner achieved a nice $13,000/d to carry woodchips from Florida to N Europe.
Handy (Indian Ocean/South Africa)
The fixture of a fancy 58,000 tonner reported at $8,000/d for a trip with bauxite from EC India was probably not that recent since similar types hardly achieved low/mid $7,000/d for similar business. Activity was very quiet all around these waters. A 57,000 was booked for short period at $9,000/d with dely WC India, considering heavier consumption , the level is still considerably better compared to the mentioned fancy 58,000 dwt booked at $9,250/d basis dely Taiwan.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it