March 27, 2021 - April 2, 2021 Weekly market report.. Banchero Costa

Wednesday, 07 April 2021 16:33:02 (GMT+3)   |   Istanbul
       

Capesize  

This week, the Capesize market remained stable, with a spike on Thursday due to a sudden improvement in the Pacific. The standard C5 West Australia/China started the week relatively quiet, trading in the very low 9s before pushing up to very high $9/mt by the middle of the week, and $10/mt was also concluded, all for mid-April dates. As a result, the TC rates increased by $3,000 during the week, reaching $24,250/day for Pacific RV. Saldanha Bay/China followed the same path, quietly rising by $1.5/mt on Thursday, settling at $17.50/mt for very late April dates. Brazil's activity was primarily focused on spot tonnage, with Vale acquiring a number of ships. The C3 appeared to be under pressure, falling as low as $21/mt before recovering to end the week in the low 21s based on end-of-April dates. The price of May dates was $22.50/mt. In the Atlantic, fronthaul improved to $34,000, with shorter BSea/Feast trades in the low $40,000/day for early April dates. Transatlantic, on the other hand, fell slightly, ending the week at a high $15,000/day.

Panamax

This week, the Capesize market remained stable, with a spike on Thursday due to a sudden improvement in the Pacific. The standard C5 West Australia/China started the week relatively quiet, trading in the very low 9s before pushing up to very high $9/mt by the middle of the week, and $10/mt was also concluded, all for mid-April dates. As a result, the TC rates increased by $3,000 during the week, reaching $24,250/day for Pacific RV. Saldanha Bay/China followed the same path, quietly rising by $1.5/mt on Thursday, settling at $17.50/mt for very late April dates. Brazil's activity was primarily focused on spot tonnage, with Vale acquiring a number of ships. The C3 appeared to be under pressure, falling as low as $21/mt before recovering to end the week in the low 21s based on end-of-April dates. The price of May dates was $22.50/mt. In the Atlantic, fronthaul improved to $34,000, with shorter BSea/Feast trades in the low $40,000/day for early April dates. Transatlantic, on the other hand, fell slightly, ending the week at a high $15,000/day.

Far East/Pacific

The market in the Far East continued to soften, with rates about USD 1,000 down on the most representative routes, both on Handies and on Supramaxes. A 56,000 dwt delivering south Vietnam was reported to be fixed at USD 23,750/day for a trip via Indonesia to South East Asia and a 53,000 dwt delivering Philippines was fixed at USD 24,500/day for a trip via Indonesia to Thailand. Regarding west direction, a 57,000 dwt delivering south China was rumoured to be fixed at USD 23,000/day for a trip to Chittagong with clinker. On Handies, a 32,000 dwt delivering mid China was done at USD 17,500/day for a trip via CIS to Philippines with steel products and a similar size vessel delivering south China took USD 23,000/day for a trip to the Arabian Gulf with petcoke.

North Europe/Mediterranean/Black Sea

The market in the Continent finally had a rate adjustment but a little bit heavier than what has been expected - Easter holidays also gave a helping hand. Grains trip fm France to west Med fixed on 32k dwt at 18k aps Rouen, while for delivery gib/nspain range lvl is USD 17,000. Trip to USG been fixed at 17k dop by large Handy delivered in lower Baltic; f/h in region of low/mid 20's USD/daily sub duration and redelivery. Bigger size Smx/Umx had the same trend of Handies with rates drifted of abt 4/5 k USD daily: scrap fixed at 20k dop lower Baltic bss 55k dwt tonner. Trip to USG has been done at 17k aps brake by 58k dwt tonner; Umx kept better levels with 26k dop USD fixed by 61k dwt for scrap to east Med and Cont. R/v done on tce at 24k dop ARA while trip to USEC at 20k USD dop ARA.

US Gulf/N.America

Supramaxes and Ultramaxes dropped further with very limited activity and levels going down. Mainly due to the usual long vessel list. Supramaxes around mid-high teens and high teens/20,000 for tarv on Ultras. For fhauls Ultras are arnd high 20's and Supras low 20's and there is a small premium if petcoke loading of 1,000 dollars. Handysize also continued to soften as in the previous week, with few cargoes on the market and longer vessel list. 32/35,000 dwt arnd low teens and the larger 36/39,000 dwt in the mid teens for now, with forecasts of a further drop in the numbers. 1,000 dollars premium for petcoke loading.

Indian Ocean/South Africa

The market continued to slide down in all areas in the region with holidays in India on Monday and worldwide on Friday. For trips from AG to Bangladesh - ECI range a 57k tonner was fixed failed bss Palistan port at 35k early in the week - and as the week progressed for similar trip a 63k open Pak was fixed at 34k levels. Towards the very end of the week a 60k open WCI was heard to have fixed for such AG/Bangladesh trip at low 31k levels. From WCI early in the week a 57k tonner was fixed aps loadport bss at 33k for biz to feast. For similar trip towards end of the week a similar 57k tonner was heard fixed in high 20s. There was a little activity towards eafr/safr range as well with a 55k dwt vsl open WCI going arnd mid 22k levels with redel safr and another bss AG port going arnd 26k levels for redel eafr. In ECI mkt came down further with a 61k tonner hearing fixed arnd 23k levels for iron ore to China during the week whereas towards end of the week Umx were aiming to achieve arnd 21-22k levels for such trips. Trips from safr to feast was still premium with a eco 63k tonner fixing mid 19k levels bss safr + 950k gbb for such biz whereas similar size vsl was heard to have fixed mid 16k aps safr + mid 600k levels for coal to WCI[1]Pak.

Banchero Costa and Co Spa

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


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