Capesize (Atlantic and Pacific)
The market was substantially flat both in Pacific and Atlantic. The key route W Australia/China kept trading between $7.50/mt and $8/mt, while from SAfr to China the market ranged between $13.25/mt and $13.75/mt. Brazil was still an option for Atlantic units as TA RV and fronthaul cargoes from N Atlantic were quite rare. Tubarao/Qingdao route settled at around mid $18/mt. Finally, period activity was quite thin as owners were reluctant to commit vessels at the current levels and charterers not prepared to pay huge premium versus spot.
Panamax (Atlantic and Pacific)
After a week with positive sentiment for the Panamax market we are back again to decreasing rates all over the world. In the Atlantic the activity was slow with rates steadily around $12,500/13,000/d + $225,000/300,000 bb from ECSAm to the East; USG trade was limited to a few cargoes with rates for trip to F East at low 40s as equivalent on voy basis. There has been some activity from the Baltic given by the usual coal business and some new grain requirements. The Pacific market is still suffering from cargo shortage: Indonesia RV is still fixed around $5,000/6,000/d + 50/60,000 basis aps dely; NoPac RV is done on aps basis around $5,500/d + 250,000 bb and Australia RV is steady around $5,000/5,500/d + bb basis aps. Period market is active with rates unchanged from last week, $8,500/d for short period and over $9,000/d for longer duration.
Handy (Far East/Pacific)
The market was firmer for Supramax owners during the first part of the week. A fancy 58,000 dwt was fixed at $10,250/d + $350,000 bb basis dely Vancouver and redely EC India/Japan range and a similar vessel at $4,800/d for a trip Indonesia-Thailand. $6,750/d was the rate agreed for a 56,000 dwt delivering a nickel ore cargo from N China via SE Asia back to China. A repositioning trip with cement from Japan to Spore was fixed at $7,500/d, while a 19 years old 49,000 dwt received a better $8,000/d basis dely S China to load nickel ore in SE Asia for China discharge. Charterers were seen pushing to book tonnage on period: no concluded deals were reported, but it was heard that a Supramax was fixed at p about $13,500/d for one year and another one may have got $12,000/d for a shorter duration. Closer to the end of the week activity cooled down and owners ran spot to try and achieve more got caught by the sudden negative trend. A fancy 57,900 dwt ppt dely Spore was fixed for a trip with nickel ore via Indonesia to China at only $8,500/d basis dely N China with an option for redelivery S China at $1,000/d less. Handysize market was very quiet and a small number of reported fixtures showed that owners were struggling to maintain the rates similar to last done.
Handy (North Europe/Mediterranean)
Handysize tonnage enjoyed a firmer market with cargoes loading out of N Eu, where a 17 years old 29,000 dwt was fixed at a nice $8,500/d on a trip from Poland to Morocco. Also Supramax were reported the be seeing slightly better figures for trip-out and backhaul business to US Atlantic; a 57,000 dwt unfancy type was booked for short period at $10,000/d basis delivery UK. Better levels were available for Handysize out of Bsea from which a 32,000 dwt got $5,750/d for a trip with grains to the E Med and another one $5,500 to go Morocco. It was rumored that a Supramax was reported agreed for a trip out from the Bsea at about $11,000/d, likely for a voyage to the still very depressed Middle East, as the Spore/Japan range redely was still calling for daily rates below $10,000/d.
Handy (USA/N.Atlantic/Lakes/S.America)
Supramax business out of Atlantic America was quieter this week, especially from S America from where no tonnage was reported fixed and rates for TA and trips out were said to be slowly sliding down. These sizes were more active with cargoes out of USG and NCSAm, even if only one TA fixture was reported for a 55,000 dwt at an almost unchanged $11,000/d from NCSAm to Turkey. Trips from the USG to the F East went on fixing steady levels with an unfancy 56,800 dwt fixed at $11,400/d and a very fancy Ultramax agreed at $1,400 for the same trade. A firm $12,500/d was paid to a 55,000 dwt for a trip to WCSAm, whilst the $7,500 paid for a similar trip to a 58,000 dwt seemed comparatively low even taking into consideration that this one was redelivered back into the USG. Handysize went through a much slower market where a fancy 31,000 dwt fixed at unattractive $7,750/d to carry bauxite from NCSAm into the Bsea; much better was the $7,350/d paid to a similar type to perform a trip with grains from Argentina to Brazil, from where owners will still be able to fix her afterwards for fronthaul business.
Handy (Indian Ocean/South Africa)
Nearly all activities stopped during Idul Fitri freezing the market; a lot of tonnage ran and is still running spot in the area. Small grain cargoes from India to E Africa and Red sea were said to be booked on much larger vessels, competing on rates over the cargoes correctly sized, just to move away from the area and buy some time.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it