Capesize (Atlantic and Pacific)
It was an erratic week for the Capesize market. Rates in Pacific decreased and owners accepted lower and lower rates. West Australia/China routes went from low $9 on Tuesday to $8,35/MT on Friday. Cargoes from Saldanha to China were reported fixed at $16 on Tuesday, but there were vessels willing to fix below that on Friday. To the contrary North Atlantic was quite active and tight. Transatlantic round and Fronthaul fixed at 18,000 and $31,000 respectively. From Brazil last reported fixture was $22, but some charterers seemed willing to wait lower levels before moving.
Panamax (Atlantic and Pacific)
The Atlantic turned hot during past week well supported by spot orders for transatlantic business and Fronthaul trips ex US Gulf. By the end of the week, TransAtlantic trip was talked at $8,000 daily and trip to the East ex US Gulf was evaluated at $14,750 + $475,000 bb level, definitely a good recovery. From the Pacific side, the short Indonesia round continued to push rates higher and higher with trip to India now being talked at low $9,000 daily. Candidates in N. China didn't enjoy the same recovery due to limited NoPac cargoes and fixtures were done at $8,000 daily level. There were some requirements for short periods with modern tonnage in FarEast evaluated mid/high $7,000 daily for 4/7 months.
Handy (Far East/Pacific)
A good volume of fresh enquiries for loading minerals from South East Asia kept Supramax owners busy throughout the week. Reported fixtures showed that was easy for owners to repeat last dones and also to achieve small improvements. India bound stems are still leading the game, but cargoes for discharge in the FarEast started as well to show slightly improved rates. A fancy 58,000 tonner achieved an improved $8,500/d with delivery China to perform a trip in NoPac and redelivery SE Asia, representing additional benefit to owners in connection with vessels subsequent employment. Better figures were agreed as well on backhaul business and Supramax size short period showed to be fixed at $9,250/d, with unconfirmed rumours of a similar type agreed at $9,000/d for a one year commitment.
Handy (North Europe/Mediterranean)
More business to load scrap from North Continent, but so far only 1 Supramax fixture was reported concluded at a daily time charter rate that was actually similar to previous week's low levels. A Handysize grain cargo from Baltic to Algeria was fixed on voyage basis at$23.50/MT showed to proportionally pay better, as it happens in several other markets for rates agreed with these smaller sizes. Reports of concluded business from Black Sea were still lacking, at the end of the week the sole reported fixture was for a 45,000 tonner performing a short trip with grains to East Med and wasn't that bad for owners considering the vessel will become available again close to the area where she loaded.
Handy (USA/N.Atlantic/Lakes/S.America)
Supramaxes where finding their best employment with trips from US Gulf to FarEast where rates kept steady at around $18,000/d; even better considering the recent developments that are showing an improved Pacific market. TransAtlantic trade for similar tonnage was a little more unstable for these sizes although ended up fixing levels similar to the previous week. Smaller Handies were said to enjoy a firmer market from North and Central America, but were a little weaker from Latin Amaricas where also larger units were suffering.
Handy (Indian Ocean/South Africa)
We noticed more chartering interest in larger Handies, but this did not bring yet any special benefit to rates. East bound trades are considered positional employment in comparison to a better Pacific market where vessels will and up afterward. Period interest was seen again in the area with a fancy 58,000 dwt agreed at over $ 9,000/d for a 1 year and a modern 33,000 tonner agreeing a nice $8,000 daily to perform 2/3 laden legs. A smaller Handy was rumoured to have agreed a daily rate in the low $ 6,000/d to perform a trip from Durban to Med.
Banchero Costa and Co Spa
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