Capesize (Atlantic and Pacific)
Finally, the Capesize market begun its expected recovery and moved fast especially in the Atlantic where it reached the Panamax level. In the Far East there has also been an improvement although not as remarkable as in the Atlantic. The Baltic Cape Index almost doubled in value on the 4 t/c routes from $ 5,704 of the previous Friday to $ 11,038. The index improved by 464 points which represents a jump of nearly 32%. The rally began very quickly after an improved demand for ships in the Atlantic for early positions and with little tonnage available. Also an improvement in the sentiment from most of the operators has pushed the rates forward. There has also been an improvement on short period with modern 180,000 dwt being fixed for 4/6 months at about $ 19,250.
Panamax (Atlantic and Pacific)
The BPI rate kept going up for the whole week, supported by the grain biz from South America. The Atlantic market went a lot firmer when the week began and turned quiet in the middle, and then rates trended up again towards the end. Biz from Brazil to the Far East was fixed at $27,000/day plus 700,000bb level and was likely to be talked higher. Trans-Atlantic biz was talked at around 16-17k, depending on vessel. More charters are willing to do 2/3 laden legs now. For the Pacific market, rates continued to going firm. LME open Japan was talked at $17,500/day for a Nopac round voyage and 17,000usd/day for an Australia one. Vessel open Southeast Asia gained about $19,000-20,000/day for an east coast South America round biz. Much short period activity were seen in the first half of the week with rates from $18,000 to $18,500 daily for 4/6 mos.
Handy (Far East/Pacific)
The volume of chartering enquiry remained small, with some interest for Supramaxes to load from north Pacific showing some round voyage fixture concluded at around usd 12,000 daily level. A number of vessels were fixed to load coal from Indonesia to India/China and for nickel ore to China. Among the various reported fixtures on this trade, some boats achieved better levels compared to last week, probably as a reflection of fresh interest for grain loading ex north Pacific which improved round voyage rates as well. An on-going small interest for short period chartering showed agreed rates to stay very much in line with last done levels.
Handy (North Europe/Mediterranean)
The market was still very sleepy in this area with scarce business for larger tonnage out of the north European waters. Charterers are still there to talk 5/7 months Time-Charter commitment in the mind/upper usd17,000's daily. The trend was better for smaller Handies getting involved in trips to the Med with scrap at quite decent Time-Charter levels. Fresh grain activity was also seen from this area with rumours of a vessel booking over usd 20,000 daily to ship wheat from north France to Morocco. Activity from the Black Sea and Mediterranean ports was again very limited.
Handy (USA/N.Atlantic/Lakes/S.America)
Initially the U.S. Gulf Supramax market appeared to maintain the previous week's levels, with usd 24,000 daily again paid for Trans-Atlantic business and usd 32,500 for the Far East. Through the week an excess of available tonnage brought some negative affection to the trade with Handymax tonnage reported agreeing mid usd 20,000's to the East and very low usd 20,000 to the east Med. Smaller tonnage saw little demand from this area but there were increased chartering requirements from South America which boosted the agreed rates through the week.
Handy (Indian Ocean/South Africa)
Fixtures concluded out of this area showed the market have become quite diversified: the fewer Indian Ocean to China iron ore fixturea didn't show any change on agreed rates from last week's. And apparently after getting these prompt requirements, Charterers showed to be slightly holding off for the near future. Better rate was paid for Supramax loading South Africa to the East, the level agreed for Handymax fixing 7/9 months commitment wasn't so attractive even considering it was based on Persian Gulf delivery. And Handysize rates from South Africa to Europe stayed at lousy enough levels.
Banchero Costa and Co Spa
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Internet: www.bancosta.it