Capesize (Atlantic and Pacific)
The entire week was very volatile but, overall, freight levels lost some ground compared to the beginning of the week. Out of West Australia to China charterers had to pay up to $11/mt on Monday while could get a vessel down to mid $9/mt for April dates on Wednesday. Rates dropped from Brazil as well going from high $26/mt to about mid $23/mt. During the second part of the week the market found a floor and owners hold back; the market therefore stabilized and traded even at higher levels in both basins. Atlantic anyhow was very thin and vessel on spot positions had to fix at lower levels: a TransAtlantic round voyage was agreed at $14,500/d. Period market remained quite active: one year duration for vessel with prompt delivery in Pacific still in the high $20,000/d.
Panamax (Atlantic and Pacific)
Atlantic market is still dropping with too many vessels open in April dates and not enough activity. USG/FEast and ECSAm/FEast are in the $14,000/d + 400,000 bb; last concluded deal on voyage basis was reported at $37.25/mt on ECSAm/China. TransAtlantic is mainly fixed on voyage basis and often with negative timecharter equivalent. Since many owners decided to keep their vessels in Pacific rates started dropping also there for FEast business. Few fixtures were reported at around $9/10,000/d from Central China for Australia RV. NoPac RV was still around $11/12,000/d. Period rates have been dropping as well and now short period is done between $13,000/d $14,000/d even if few fixtures were reported.
Handy (Far East/Pacific)
The week was quiet especially at the beginning, closer to the end fixtures started to emerge showing smaller activity and some Supramax fixtures had a negative trend. Fixtures for cargoes ex Indonesia showed a 56,000 dwt done at just $12,500/d basis dely Spore and redely China. A similar unit got $14,000/d with redely Japan and a 51,000 dwt agreed a discouraging $7,000/d basis dely EC India. A 55,000 dwt got $11,000/d for a Spore/Cambodia RV with Sand and, with the same dely, a 56,000 dwt achieved $12,000/d via Indo to Thailand. A fancy 55,700 dwt got $11,500/d basis dely N China via Indo to India with Coal, present trend requires a premium for moving from Feast to Middle East. Supramax backhaul to Med slightly improved to $9,750/d for 60 days and $13,750/d balance. There were rumors about a Supramax fixing NoPac RV at $13,000/d.
Handy (North Europe/Mediterranean)
Not much activity emerged although it is well known that Handysize wheat trade out of BSea to Med went on at steady. On that size a 28,000 dwt achieved $15,000/d basis dely UK for a trip via Cont to E Med, probably with scrap. Supramax fixtures were scarce, but a couple of short periods emerged basis dely BSea and redely Atlantic waters at $13,000/d.
Handy (USA/N.Atlantic/Lakes/S.America)
Fresh enquiries from S America helped rates to bottom and might well be that will strengthen next week. A nice 57,900 dwt got $15,500/d for short period dely NCSAm and redely Atlantic. A 53,000 dwt achieved $20,000/d basis dely aps N Brazil for a trip to India. From USG the trend was different and a tess 52 got only $12,500/d to perform a trip with Petcoke to Med. Occasionally smaller Handies enjoyed better levels in particular a 37,000 dwt got $12,400/d for a trip Panama/Cont. However also this size is following the negative trend of Supramax as shown by the $8,000/d for a USG/N Brazil.
Handy (Indian Ocean/South Africa)
Spot Handysize trades are active, but no concluded deals were reported. For Supramax the situation is similar with one fixture reported for a 53,600 dwt at $12,750/d for short period.
Banchero Costa and Co Spa
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