Capesize (Atlantic and Pacific)
Another difficult week for Capesize owners who can't find any other sign of recovery in such a depressed market apart from the low bunker prices that help a bit. In Pacific the majors were all pretty active, but rates remained in the very low $5/mt; there were rumours of $5/mt agreed for early January dates. The Saldanha Bay/Qingdao route was under pressure accordingly with $7.70/mt done and rumours that below $7/mt was agreed afterwards. The key fronthaul Brazil/China showed a critical lack of cargoes with a long list of ballasters heading to Brazil and some of them at anchorage in S Africa waiting for new cargoes. As a consequence, owners were forced to book backhaul cargoes available at a very low $4.75/mt basis Saldanha Bay/Rotterdam or similar rates basis Richards Bay/Rotterdam and Brazil/UKC The Atlantic basin was characterized by the usual slow activity with $3 500/d agreed for TransAtlantic RV or $6/mt agreed for the standard Bolivar/Rotterdam route. Almost absent the period activity with just some rumours that $12,000/d was traded for one year period.
Panamax (Atlantic and Pacific)
A negative week for the Panamax market, rates softened and owners were in a rush to fix in order to avoid the holidays period. USG-F East was done around $14,000/d + 400,000, equivalent of $37/37.50/mt for Dec dates. January fixtures were done at lower levels around $36/mt. USG-Skaw/Passero was agreed at no more than $11,750/d + 175,000. A lack of cargoes from ECSAm where fixtures for trip F East were close/below $13,000/d + 300,000 bb and trip to Cont/Med close to $10,000/d + 125/150,000 bb. Some activity from the Baltic at rates around $9,000/d basis redeley Cont and a tick higher redely Med. The market in Pacific was dropping. The supply of fresh cargoes during the middle of the week was not enough to sustain rates and avoid trading on aps basis. NoPac activity was scarce with fixtures around $7,000/d on Panamax size. Many units open in N China started ballasting South. Quick Indo RV was done around $5,500/d, India redely was $1,000/d higher and Australia RV was done at $7,750/d basis lme. Period activity was still very slow.
Handy (Far East/Pacific)
Demand for Supramax out of Indonesia suddenly dried up putting a large question mark about the future trend. At the moment the small amount of fixtures is still at levels quite close to the previous week. A 56,600 agreed $10,000/d for a short trip redely Pacific, a 53,000 dwt got the same rate for NoPac RV. On backhaul biz a Supramax agreed $7,500/d for 60 days and $10,500/d balance from China to USG/NCSAm range. A 32,500 dwt gor $9,750/d from WCSAm to Med.
Handy (North Europe/Mediterranean)
A 55,000 dwt fixed at $13,500/d for a trip via Norway to F East showed that the trend is improving also considering that the dely was N France; however another fancier unit got only $9,000/d for a scrap cargo from Cont to E Med. B Sea further weakened and a 56,700 dwt got only $10,500/d from Marmara via BSea to Spore/Jpn. Rates for the first half of January dates were not higher than those reported for spot cargoes.
Handy (USA/N.Atlantic/Lakes/S.America)
Despite the list of the fixtures concluded out of USG and NCSAm was shorter the trend kept firm with a 55,000 dwt fixed at $14,500/d to carry grains to Med and a similar unit done at $17,000/d to F East. Demand was higher from S America where rates kept improving daily over the week. An initial $12,800/d + 275,000 bb was agreed on a 56,000 dwt basis dely ECSAm to SE Asia; at the end of the week a similar unit got $13,500/d basis dely W Africa for a similar trip. Handysize employed on TransAtlantic performed even better: a 38,200 dwt with dely at the loading port got $12,000/d for a trip to Morocco, after a 32,000 dwt was fixed at $13,800/d to carry grains to W Med.
Handy (Indian Ocean/South Africa)
Activity slowed again with little enquiries available for loading out of India and S Africa. The two days of Arab holidays also switched off the local trade linked to Persian Gulf.
Banchero Costa and Co Spa
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