Capesize (Atlantic and Pacific)
After a quiet start of the week, a bearish sentiment influenced some Capesize owners which decided to concede some discount on the last levels done. In the Pacific Ocean the charterers were able to agree some vessels in the low $5’s pmt for the route from West Australia to China and, similarly out of Brazil, the market dropped to the high $12’s for the August dates. During the second part of the week, the market has finally found a floor and some positive feeling has been registered. On the standard route from Tubarao to Qingdao an increased activity was reported with rates in the low $13’s for dates in the first half of September, while the trades from West Australia to Qingdao have been agreed at around high $5’s. Volumes out of the North Atlantic Ocean remained low but also the tonnage list was short enough to allow the market to increase considerably during the week.
Panamax (Atlantic and Pacific)
Another good week has been recorded on the Panamax market with rates remaining on good levels. Towards the end of the week trades in the North Atlantic paid even higher rates compared to the previous week, both for the round voyages and the fronthaul, even though the volumes remained limited. The standard LMEs open in the North West Europe were reported to fix around $10,000/10,500/d. A good activity has been reported from ECS America with rates firming up for ballasters from the East and a Kamsarmax has been fixed retroactive Singapore for an ECS America round voyage at $10,750/d. In the Pacific Ocean almost all the owners obtained increased rates and, in addition, some charterers have started to fix a few ships from China for USG round voyages with rates for standard LMEs averaging around $8,500/d and Kamsarmaxes reaching around $9,000/d. The Pacific round voyage was rumoured to have reached $11,000/d on a nice 77,000 dwt open Nanjing for a trip from EC Australia to Japan. Period activity showed an 81,500 dwt 2011 built fixing retroactive Singapore 29 July for four to six months at an improved $11,000/d.
Handy (Far East/Pacific)
The Supramax market in the Pacific recorded a significant decrease of around $1,000/d, mainly due to a lack of activity in SE Asia and in Australia. At the beginning of the week a 63,700 dwt with dely Lanshan and redely WW, has been fixed for prompt dates for about 3 to 5 mos at an encouraging $10,200/d but, immediately afterwards, she has been reported to have agreed a nickel ore cargo from Philippines back to China at only $9,350/d. Only few cargoes have been reported in the NoPac market penalizing furthermore rates. The coal trade from Indo to China showed rates for a Tess 58 with dely S China decreasing from $8,500/d on Monday to $8,200/d on Friday, while 56,000 dwt dely Spore got $9,500/d for the same trip. A couple of Ultras have been reported done around $10,500/10,750/d bss dely Spore and the trip via SE Asia to India paid around $4/500/d more the Chinese one. Also the Handysize followed a similar trend with low activity and rates.
Handy (North Europe/Mediterranean)
The Supra market in the E Med/B Sea area recorded a quite stable week. A 56,000 dwt was fixed from Tuzla via the B Sea to the Spanish Med around $9,850/d while, during the previous week, a 55,000 unit with dely aps B Sea agreed $11,500/d for the same trip. The trip to the F East lost around $200/d for a standard 58,000 dwt with dely at Canakkale settling the average level around $17,400/17,500/d, even if two 57,000 dwt have been reported getting only $16,000/d and $16,500/d respectively, while a big Supra was rumored to agree a good $20,000/d for a trip to Chittagong. The market as a whole looked to remain pretty strong. The Handy market maintained the same levels of the previous week with the standard 32,000 vessels agreeing levels close to $8,000/d for trips to the W Med. Supras in the Cont continued the slowdown begun last week with a very small quantity of cargoes in the market and Owners thinking to ballast to the United States to find employment. Also from the Continent area, a fixture for standard 35,000 dwt Handies carrying scrap to the E Med has been heard to be done at $8,200/d with dely Ghent, while a 32,000 dwt unit agreed $9,500/d for a trip via the Baltic to Buenaventura.
Handy (USA/N.Atlantic/Lakes/S.America)
In the USG the market for Ultras and Supras dropped a bit with a 57,000 dwt having fixed at $10,250/d from the USG to the Adriatic. A 57,000 dwt was rumored to have been fixed at $10,500/d for a trip to Turkey. Rates for trips from this area to the F East lost around $400/d from $16,900/d to $16,500/d, but a 64,400 dwt dely Galveston for a trip via Suez redely India with petcoke have been reported fixed at $20,250/d. Notwithstanding the numbers showed by the Baltic Exchange rates from these areas should be between $18,000/d and $18,500/d for the grain cargoes, even if no fixtures have been reported this week. On voyage bss the trade from the USG to China was agreed at $36.0/mt. The market in ECSA is slowly increasing, 55,000 dwt vessels are reported agreeing $10,500/d + $325,000 bb aps Recalada for trip to China and a couple of Ultras have been reported between $13,400/13,500/d level with a bb of $340/350,000 aps Brazil for trip to Chittagong. Rates for a trip to the F East reached again $13,250/d + $325,000 bb with a positive sentiment for the future.
Handy (Indian Ocean/South Africa)
The market in the area remained steady with only some slight increase. The usual coal trade from Richards Bay to India/Pakistan gained around $1,000/1,500/d on a Supra/Ultra, while Supras going out of the MEG to India or China agreed around $10,000/d. Vessels on the WC India/China trip agreed around $8,500/9,000/d. On the period market the owners continued to ask high $9,000/d but charterers still do not offer more than mid $8,000/d. Ships in the R Sea agreed low teens for trips via the B Sea to China or the Far East with longer duration.
Banchero Costa and Co Spa
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