June 11, 2018 – June 15, 2018 Weekly market report.. Banchero Costa

Tuesday, 19 June 2018 16:31:33 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific)

Very volatile week with rates in Pacific passing from high $7/mt for W est Australia/China to mid $7/mt and then climbed back again close to $8/mt and even above on closing on Friday. Similarly the key route Tubarao/Qingdao was fixed close to $20/mt for July dates. The period market was quite active again with significant rates fixed for nice/eco units for prompt delivery and up to 9 months duration; one of which was fixed for 7/9 months at $23,250/d.

Panamax (Atlantic and Pacific)

Market showed different trends in all areas: only rates which took really an improvement were those in ECSAm especially for promptest dates and positions: some Kamsarmaxes now fixing just above $16,500/d plus a $650,000 ballast bonus compared to $16,000/d plus $600,000 ballast bonus at the end of last week. Also good rates reported for the Atlantic fronthaul which constantly rose throughout the week with sufficient enquiries to support the market. Same not happened in TransAtlantic rates where, due to lack of fresh business in the North, owners dropping their ideas to find cover. The Pacific basin showed similar case where recently firm market in the North dropped, with rates sharply down from the $14,000/d seen the previous week due to a lack of new business. Bit more activity in South Pacific due to Indonesian coal export, charterers forced to pay a little premium for shorter duration trips but by end of the week again rates suffered. Period interest continued, particularly for one year, with rates for standard types achieving the high $13,000s daily.

Handy (Far East/Pacific)

Once again the market remained pretty stable, but the number of fixtures is slowly increasing. A Tess58 with dely Hong Kong was fixed at $13,000/d for a trip via Philippines to China and a similar unit with dely Singapore was fixed at $11,500/d for a trip via Indo to China with coal. A 63,000 dwt with dely S China got $12,800/d to load coal in Indo to WC India or $14,000/d for EC discharge. An Ultramax with dely S Korea achieved $13,000/d for a CIS Pasific RV. A 56,000 dwt got $10,500/d to load steels in N China to MEG. A small Ultramax with dely EC China was booked for a backhaul trip to WC Africa at $9,800/d for 60 days and $14,000/d balance and a similar unit with dely Spore got $13,000/d for 2 laden legs redely worldwide.

Handy (North Europe/Mediterranean)

The market in Cont remained active and rates stable. Handies started rating $13,000/d for scrap cargoes to E Med and on fronthaul there was a cargo, unfixed yet, of around 33,000 mt of fertilizers from Cont to China with charterers ready to pay $47/mt and owners asking $51/mt which shows an equivalent of around $16,000/d on a 37,000 dwt. The Supramax market was a tad slow but rates remained around $14,000/d for Cont/Med trips and $16,500/d on Cont/F East basis Tess58. The market in Med was characterized by a long tonnage list and slower demand. Handies were particularly well supplied. Some Handies open in E Med preferred to ballast to Continent rather than going to the Black Sea.

Handy (USA/N.Atlantic/Lakes/S.America)

Activity was still good from USG especially to Europe and to India, but EC USA and NCSAm were not as active. Rates for petcoke from USG to Turkey were around $21/mt and a tick lower from NCSAm. A 58,000 dwt fixed in the low $17,000/d for grains to E Med and there were rumors that a 56,000 dwt was fixed at $19,500/d to WC India. Handies were fixing around $11/11,500/d petcoke cargoes to E Med. S America kept its slow, positive trend on all routes and sizes. Supramax TransAtlantic RV got $14,500/d to Med and $14,000/d to Cont, Ultramax were some $1,000/d higher. Trips to F East on Ultramax were fixed around/high $15,500/d + 550,000 bb and on Supramax $15,000/d + 500,000 bb. The feeling remains positive the market should keep improving.

Handy (Indian Ocean/South Africa)

The market in Indian Ocean finally started to pick up as a whole despite of the festivities. Over the last weekend a 56,000 dwt was understood to be fixed on a dop basis MEG port at $12,250/d for a period of 3/5 months to Indian operators. Another 56,000 dwt was fixed at low $12,000/d to F East with Sulphur. A similar vessel was fixed basis Jebel Ali at very high $11,000/d for a similar direction. In the middle of the week a 61,000 dwt was fixed basis dely Pakistan via WC India to China at $14,000/d with salt. A Tess58 open WC India was fixed to SE Asia at $11,600/d. From S Africa news remained positive and a 63,000 dwt was fixed basis dely dop Tuticorin at $14,000/d for a trip via S Africa to China and on a similar trip a 56,000 dwt open Maldives was fixed at high $12,000/d basis dely dop.

 

Banchero Costa and Co Spa

Email: research@bancosta.it
Internet: www.bancosta.it


Tags: Europe Trading 

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