Capesize (Atlantic and Pacific)
Chinese New Year holidays impacted Capesize activity with a general softer trend; owners tried to resist lower rates, but succeeded only during the first half of the week. More tonnage was reported ballasting from F East to Spore and then to S Africa without been fixed and looking for better rates. In Pacific W Australia‐China went from $5.60/mt to $5/mt, from S Africa to Qingdao the route settled in the high $8/mt. From Brazil demand was much slower with just a few fixtures in the $12s/mt for February dates. A different trend was followed by period business that remained positive also thanks to a number of vessels redelivered from previous charterers; preferred duration was still 1 year for which rates were higher than the spot.
Panamax (Atlantic and Pacific)
During last week the market remained largely steady with a slightly softer trend registered from ECSAm where, in any case, a 82,000 dwt still managed to fix at $9,500/d + 450,000 bb for fronthaul business; a similar unit on TransAtlantic round got $12,000/d. Smaller units, 75,000 dwt, were reported around $9,250/d + 425,000 bb on trips to F East and one unit basis dely Spore got around $6,900/d for a fronthaul trip. From USG 75,000 dwt were reported around $14,000/d + 400,000 to F East, but there were owners accepting close to $13,500/d + 350,000 bb. From Cont a 82,000 dwt fixed basis El Ferrol via Ust Luga to Cont at $12,000/d and a 80,000 dwt for a trip via Murmansk to Cont achieved $11,000/d basis dely Rotterdam. The same vessel was reported before for 2 laden legs at $9,800/d basis dely Rotterdam and redely Skaw/Passero. From BSea a Kamsarmax was reported basis dely Eregly for a trip via BSea to F East at $16,000/d. In F East the market remained subdued with a 77,000 dwt fixed
for NoPac RV around $7,250/d basis dely Japan and a 75,000 dwt got $4,750/d basis dely Hong Kong for a trip via Indonesia to Philippines. A 93,000 dwt was fixed basis CJK for a trip via E Australia to Spore/Japan at $6,250/d. On period a 82,000 dwt was fixed baisis dely Spore for 11/13 months at $8,100/d and a 82,000/d got $9,500/d for 2 years plus a third one in option at $10,500/d.
Handy (Far East/Pacific)
The festivities had a negative influence on rates in an area already depressed and smaller demand allowed charterers to push rates further down. Limited activity on coal resulted in a Supramax fixed at $5,250/d with redely full India and a 56,000 dwt with dely EC China at $3,000/d via Indo to Thailand. A 53,000 dwt with dely EC China got $2,500/d via CIS Pacific to China and a Tess‐52 that agreed $3,250/d for a trip with steels to SE Asia. No Handysize fixtures were officially reported, but rates were similarly lower.
Handy (North Europe/Mediterranean)
Pretty quiet market in these waters with rates from Cont to F East and America slightly lowering. An Ultramax that accepted $11,900/d for a trip to E Med with Scrap basis dely Belgium showed unchanged rates on this trade. Very limited fixtures were reported from Med and B Sea, but both fronthaul and grain trades were paying less. A 31,000 dwt with dely Canakkale was fixed for a trip via BSea to Egypt Med at $5250/d and a similar unit got $4,400/d from Morocco to USG with fertilizers. An operator took a 33,000 dwt for 2/3 laden legs at $6,500/d basis dely S Italy and redely Atlantic.
Handy (USA/N.Atlantic/Lakes/S.America)
Charterers in need to fix Supramax from USG to Pacific waters still had to pay big premiums to induce owners to consider that direction. A 57,000 dwt non‐eco with dely Mississippi River was fixed at $19,200/d for a trip with grains to Spore/Japan, an Ultramax with dely Texas got $22,000/d via USG. Two fixtures were bound to West Coast a 57,800 dwt was fixed at $26,400/d with coal from NCSAm to WC Honduras and a Tess‐52 was taken at $11,250/d basis dely South West Pass to WC Colombia with grains and redely back in Cristobal. TranAtlantic rates from the area were unchanged. Activity from S America was limited with Supramax rates softening on all trades. For Handysize a 39,000 dwt was fixed from Argentina to USG at $9,250/d and a slightly smaller unit from the same area achieved $9,750/d to Skaw/Passero.
Handy (Indian Ocean/South Africa)
Despite slowing demand the market kept showing that there are some premiums available, sometimes significant ones, for tonnage loading out of MEG. A 61,000 dwt achieved $9,500/d for a trip to India and a 56,800 dwt with dely Pakistan was fixed at a strong $10,100/d via MEG to F East. A strong $11,000/d was agreed on an Ultramax from WC India to F East with salt. A 58,000 dwt got an unattractive $5,750/d from EC India to China.
Banchero Costa and Co Spa
Email: research@bancosta.it
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