Capesize (Atlantic and Pacific)
Most part of last week was driven by pessimism in both Oceans. Activity from Brazil was very rare and ballasters from East needed to look at cargoes as well for US loading. In Atlantic $4500 were agreed for a quick round via Narvik with good delivery. Pacific market was quite active on Friday as some delays in Chinese ports caused vessels re-scheduling; rates for very prompt dates improved over $8 and $8.75 was even rumored to have fixed for 25th Dec loading.
Panamax (Atlantic and Pacific)
A lack of prompt tonnage in North Atlantic secured good rates. Some Kamsarmax in Baltic Sea were fixed at very healthy $12,000/d for Med trips. Fronthaul business ex US Gulf was still limited and rates were talked at only mid $13,000 daily + high 300,000 bb. In Pacific, the market was dropping very quickly under the pressure of overwhelmingly long list of open tonnages and the rather limited cargoes due to Christmas and New Year's holidays. Some modern Panamax were fixed at $6,000 daily + 60,000 bb for E. Kalimantan/S. China business. Charterers were unwilling to agree more than $6,000 + $250,000 bb for NoPac trip. There were still some short period orders while rates were as low as high $6,000 daily for 4/8 months.
Handy (Far East/Pacific)
Erratic demand and a long list of Supramax tonnage available in the area resulted in an unbalanced market trend through the week. Initially there was a considerable rate gap between SE Asia and Northern Far East business. By the middle of the week slowing demand ex South East Asia put rates under pressure and resulted in fixtures more in line with those available in other Pacific ranges. This also allowed charterers to book a couple of units for 3/5 months at daily rates well below the $9,000 and even close to 8,000 levels. Approaching the end of the week SE Asia firmed up again whilst North Far Eastern ones kept at last dones reviving again fresh interest for short period that climbed up again well over $ 9,000/d. A 52,000 tonner was fixed at a nice $9,750/d for 4/6 months with dely South Korea, just 2 days before a 58,000 tonner earned only $8,600 with same dely. Backhaul activity was limited to a small amount of enquiries for WAfr that firmed up since owners were unwilling to go in Atkantic because it is less predictable at the moment being.
Handy (North Europe/Mediterranean)
Europe and North Africa are now one of the slowest areas of the world. Also enquiries for Supramax and Handysize cargoes out of North European waters were limited. The only rumor about concluded business from this area was a Supramax dely Scandinavia agreeing a very low $8,250/d for 3 to 5 months commitment. The feeling was similar from Mediterranean and BSea waters from where no fixtures were reported concluded. A small amount of wheat is still said to be shipped from Ukrainian ports to Egypt Med at rates in low teens for 30/35,000 MT.
Handy (USA/N.Atlantic/Lakes/S.America)
Supramax rates to Singapore/Japan range lowered a bit while similar grain stems to China were rumored close to $40/MT. Rates for TransAtlantic voyage kept previous week levels and a few were even reported at improved rates. From South America larger interest was noticed both for Supramax and Handysize basis delivery at loading port or dop West Africa. A 33,000 tonner was fixed at a nice $9,500/d from S. America to Far East.
Handy (Indian Ocean/South Africa)
Some unexpected factors helped rates to recover. First of all iron ore activity from Iran to China is alive again!! Concluded deals were kept confidential, but rates are said to be much firmer than what is paid for the usual, local enquiries. This and a shortage of tonnage in South American waters pushed rates higher in particular for periods. Firmer fixtures were agreed for Supramax short period deals basis delivery South East Africa. Another nice fixture was agreed for a similar type with delivering Muscat at $9,500/d. Improved rates were reflected also on local trades with iron ore trips ex India to China now fixing at better levels.
Banchero Costa and Co Spa
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Internet: www.bancosta.it