Capesize (Atlantic and Pacific)
Capesize market registered mixed signals with rates generally under pressure for the first half of the week and some sign of recovery registered, particularly in Pacific, in the end of the week. In the Pacific basin, the standard route from West Australia to Qingdao was fixed below $6/mt for eta 8/10 June, although some improvements were registered and very low $6’s per mt agreed for bit prompter positions. The customary route from Saldanha Bay to Qingdao was agreed around low/mid $10's per mt for end of June dates. The Brazilian market registered a quite active VALE agreeing some ships in the region of mid $14's for early June laycan and same levels for end of June dates. Higher levels in the region of high $14's were done for very prompt position. In the Atlantic waters the market remained very quiet with the TransAtlantic fixed in the very low teens and fronthaul traded in the very low $20,000/d.
Panamax (Atlantic and Pacific)
Panamax rates in the South American market remained under pressure and owners with ships ready for early June dates chased lower rates. An 81,000 dwt fixed at $8,700/d plus a $360,000 ballast bonus to a grain house. Less ballasters to South America were reported.
Also in North Atlantic the market showed a similar scenario with rates done for round voyage in the high $5,000s for Panamaxes and mid $6,000s for Kamsarmaxes. The Asian market showed rates remained at low levels despite some activity reported but, unluckily for the owners, a lack of grain cargo in the North Pacific combined with falling rates in South American, has undermined values. An 84,000 dwt open Matsushima end May was reported fixed for a NoPac round voyage in the low $7,000s daily. Period fixing included an 81,000 dwt 2013-built fixing from Dalian for 14 to 17 months trading at just $9,000/d with a grain house. Danae 13-year old 74,400 vessel fixed from Fangcheng for five to seven months trading at $7,250/d.
Handy (Far East/Pacific)
A huge number of Supramax and Ultramax fixtures were reported concluded this week showing a further decrease in the rates. A 57,800 dwt was fixed at $7,800/d from N China to WC India/MEG range. A few lots of nickel ore were loaded from Philippines to China and, on this trade, an Ultramax got $7,500/d with delivery at N China. The Indonesia/China coal trade was active again and, amongst a number of vessels fixed with Semarang delivery, a 55,600 dwt received $8,000/d. An Ultramax delivering Malaysia loaded bauxite to China at $8,000/d and a 55,000 unit carrying tapioca chips from Thailand to the same destination got $7,200/d. A fuel efficient 58,000 dwt delivering at S Korea was fixed for a NoPac RV at $6,750/d. The low market re-activated the sand trade from S China/SE Asia range to Singapore where an Ultramax was paid $7,000/d with delivery Vietnam. A smaller Ultramax delivering at Indonesia was fixed for 5 to 8 months trading at $9,500/d.
Handy (North Europe/Mediterranean)
A limited chartering demand was registered from these waters, showing owners still agreeing unexciting rates. An Ultramax got $11,000/d from Egypt to W Africa and a 57,000 dwt carrying steels agreed $9,250/d performing a longer duration trip from the B Sea to the same area. A 37,000 dwt vessel delivering in the same area was fixed at $12,800/d to the MEG. Interest to load bulk wheat from these waters was very limited. Scrap trade from N Europe reported an Ultramax done from Baltic to Turkey at $12,200/d and a Handymax delivering N France was fixed to load in Denmark for a similar redelivery. A 35,000 vessel delivering Belgium got $7,000/d for a trip to the USG.
Handy (USA/N.Atlantic/Lakes/S.America)
Fixtures from Atlantic Americas remained on a negative trend. An Ultramax delivering Recalada was done at $10,000/d for a trip to Morocco and a sister vessel, with same delivery, got $12,000/d plus $175,000 bb for a trip to Philippines. A 55,000 dwt from the same area was fixed at $9,500/d to Egypt, while a 58,000 dwt fuel efficient type delivering up river had $9,250/d for a trip to Skaw/Passero range. A 57,800 dwt with delivery at the USG loading petcoke was done at $14,500/d to a few optional discharging areas in the Mediterranean. Two 30,000 vessels with same delivery were fixed respectively at $14,000/d with redelivery WCC America and at $12,750/d basis redelivery WCS America.
Handy (Indian Ocean/South Africa)
A little larger number of available reports still showed low rates agreed with Supramaxes fixing spot business in the area. The coal export from S Africa remained scarce. Only few boats were agreed from the MEG to India at rates ranging between $8,000/$8,500/d, while a couple of Supramaxes delivering prompt in the same region were booked for trips via Iran to China at contradictory rates, respectively $9,750/d and $11,000/d.
Banchero Costa and Co Spa
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