Capesize (Atlantic and Pacific)
The week was volatile with the 5TC average that gained over $1,300/d during the first two days of the week and then lost almost $1,500/d during the last 3 days: the result is an overall small decrease of $160/d week on week. Tubarao-Qingdao gained almost $0.40/mt till Tuesday and then started dropping closing on Friday at $21.615/mt, losing $0.76/mt during the week. W Australia-Qingdao followed a similar path going up $0.70/mt to $10.80/mt, but then closed at $10.30/mt on Friday, still $0.35/mt higher than the previous week. Saldanha Bay-Qingdao was quite stable with little volatility and closed on Friday at low $16s/mt. At first the Capesize market positive also in the Atlantic basin, but due to the negative sentiment, fronthaul lost $2,000/d during the second half of the week, ending at $38,600/d; the same trend was noticed on TransAtlantic trades. Not much activity on period due to this very volatile market.
Panamax (Atlantic and Pacific)
An active week pushed rates higher. In N Atlantic, despite a slight slowdown of demand, rates maintained the growing trend started during the second half of the previous week with rates around $14,000/d for quality Kamsarmax tonnage. Activity was particularly strong from BSea with many fixtures and rates improving all week. From ECSAm the very large number of cargoes pushed rates higher and higher and by the end of the week rates gained $1,000/d + 100,000 bb. In Pacific a large amount of coal cargoes from Australia kept rates stable around $13,000/d for China RV, whilst Indonesia RV showed contradicting rates between $9,000/d and $11,500/d all week despite decent demand. On period a few vessels were fixed, mostly at index linked rates for 6 months and up to 12 months periods.
Handy (Far East/Pacific)
Rates for Indonesian coal trades increased around $250/500/d compared to the previous week and 56,000 dwt open SE Asia were fixing around low $9,000s/d. A 58,000 dwt was fixed around $9,500/d basis dely Spore for a trip to MEG and a 56,000 dwt ballasting from ECI/Bangladesh got around $10,000/d basis dely passing Spore for redely WCI with coal. A 56,000 dwt open Yangtze River was fixed in the high $6,000s/d for a trip to MEG/WCI with steels. NoPac RV was fixed around $10,000/d basis dely Japan.
Handy (North Europe/Mediterranean)
Activity in Cont was quite stable both for Handy and Supramax. On Handy a nice 37,000 dwt was rumoured around $10,750/d basis dely dop Baltic for a trip with timber to E Med (estimated duration 30/35 days). On Supramax nothing was officially reported, but the typical Cont to E Med trip was assessed around $13,000/d and F East redely around $16,000/d, both basis Tess58. After a few positive weeks the market in Med/BSea softened again. Charterers are pushing rates down for vessels which already switched to VLSFO on short CrossMed trips and Handies were fixed at just $6/7,000/d basis dely passing Canakkale whilst trips to USG were fixed around $8,000/d. On Supramax fronthaul was done around $18,000/d.
Handy (USA/N.Atlantic/Lakes/S.America)
In USG Supramax remained strong thanks to a shortage of units on prompt dates and the feeling that second half of December will be balanced. On Atlantic TCT Supramax were getting fixed at $14/15,000/d and Ultramax around $17/18,000/d, whilst Spore/Jpn redely were fixed around $20,000/d and in the high $20,000s/d respectively. Handysize rates kept softening, maybe not for the index, but definitely as sentiment: there are too many spot ships. Compared to the previous week the activity softened again and 32/35,000 dwt were fixed around mid $9s/10,000s/d to Cont/Med and larger units around $10,500/11,000/d. To the contrary from ECSAm Handysize tonnage experienced some improvements, but the market remains weak: 38,000 dwt units could fix around $11/11,500/d to Skaw/Passero or around $14/14,500/d to F East. Costal Brazil trips were stable around $10/10,500/d. Supramax remained stable for a third consecutive week with Tess58 getting $13,000/d + 300,000 bb for trips via Brazil/Argentina to F East, Ultramax were just some $500/d higher. Trips to Cont/Med were done around $12/12,500/d on Supramax and around $13,000/d on Ultramax.
Handy (Indian Ocean/South Africa)
Compared to the previous week the sentiment improved a little. A Tess52 was initially fixed in the mid $10,000s/d basis dely UAE and redely WCI; through the week rates went a tick higher up to low $11,000s/d basis dely aps UAE. A 47,000 dwt was reported fixed at $10,000/d from MEG to SE Asia. Towards the end of the week rates seemed to push further up and a 52,000 dwt with dely dop Pakistan was rumoured at close to $12,000/d for a trip via MEG to Bangladesh. Rates from EC India followed a similar trend and were some $1/1,500/d higher than the previous week. Not much activity reported from S Africa, but a 53,000 dwt was rumoured at $11,000/d + 100,000 bb to India.
Banchero Costa and Co Spa
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