Capesize (Atlantic and Pacific)
The Capesize market started very slow last week and then closed with a significant improvement which brought some positive sentiment for the week to come. In Pacific on the W Australia/China trade fixtures were reported at $9/mt compared to $8/mt the previous week. Demand was weak for TransAtlantic rounds, but was good on the Fronthaul. The sentiment improved during the mid of the week and then ran a bit out of steam over the closing. Rates closed in the very low $20s for TransAtlantic and in the mid/low $30,000/d for BSea/FEast cargoes. From Brazil the fronthaul remained in the low $20/mt. From Itaguai a fixture was reported at $22.60/mt, but charterers were stepping back by the closing. Coal cargoes from S Africa to China were fixed in the mid $16/mt.
Panamax (Atlantic and Pacific)
The week started with larger demand and the feeling that market might have bottomed, but more tonnage came open and therefore throughout the week freight kept easying. In Med the round voyage is offered at around $14,000/d, from Cont $15,000/d. Bids were around $1,000/d lower. In USG, that showed a slow but constant demand growth over the last couple of weeks, there were less Nov cargoes to China with offers in the $18,000/d + $800,000 bb aps USG to FEast and $15,000 + $500,000 for Atlantic employments. In FEast the activity was busy on all routes, in particular Indo RV. Australia RV and NoPac are slowing and owners with tonnage open in N China/Japan range are struggling at levels are in the low teens. India/Persian Gulf are still paying a thick premium. Period activity was low in both basins, but a few fixtures were reported for short period.
Handy (Far East/Pacific)
Supramax demand was still good and the first half of the week saw higher freight rates. Two dolphin types were fixed at $12,000/d basis dely N China round via SE Asia intended cargo nickel ore. A Handymax 19 year old achieved $9,500/d basis dely China, via Indo, to India. A fancy 58,000 dwt got $17,500/d basis dely aps New Zealand to China (intention logs) and a similar unit was fixed at $12,500/d basis dely EC India, via Indo to China with bauxite. An Eco-type 58,000 dwt was fixed on a backhaul trip from N China to USG at $3,800/d first 65 days + $12,000/d rest of the trip, the present strong USG market justify the low rate during the first part of the trip, but a strong level during the second part is justified by the fact that the vessel will be open in USG around the end of the year when the market is usually slower. A nice 55,000 dwt was booked on another backhaul from N China to SE Asia at $7,800/d with steel cargo. During the second half of the week a 57,000 dwt achieved $17,800/d basis dely Spore via SE Asia to N China to carry bauxite, a lower rate. Period activity was limited to short commitments at sideways rates.
Handy (North Europe/Mediterranean)
More demand to carry scrap from Cont to Turkish Med range pushed Supramax rates to the $20,000/d level. Handies on the same trade remained so far unchanged. Fronthaul Supramax trips from BSea further strengthened and fancy units can now achieve over $20,000/d. Bulk cargoes keep regurarly flowing from Med to WAfr; last week a TC hire with dely S Spain was paid as if the dely was E Med. A 50,000 dwt agreed $13,000/d for dely E Med to perform 2/3 laden legs with redely Atlantic waters. A Korean operator fixed a 56,800 dwt for 1 year period at $12,000/d redely worldwide.
Handy (USA/N.Atlantic/Lakes/S.America)
South American market remained quite behind USG and US Atl. Where rates are easily much higher. Two Supramax were the exceptions: a Supramax fixed to load sugar from Santos to Jeddah that achieved $16,000/d basis redely Port Said and another similar unit that got $14,000/d from Rio Grande to Continent. Otherwise a 53,000 dwt was fixed at $14,000/d + $400,000 bb from Santos to PG and a 57,000 dwt agreed an unattractive freight of $13/mt to perform a self disch. From Tubarao to Saldanha Bay, quite unattractive redely. USG to FEast trip initially was booked at $26,000/d followed by another Supra that got $30,500/d and then a 58,000 dwt achieved 26,000/d ex US Atl. Transatlantic business was not that busy, anyhow a 55,000 dwt agreed $24,000/d from USG to Turkey, the unit will then enjoy another very active market.In USG a 57,000 dwt was booked for 3/5 months basis redely worldwide at an unexciting $15,000/d.
Handy (Indian Ocean/South Africa)
Apart from the Jag Rani, who ran spot to WC India and agreed a small $7,000/d to perform a PG round, the other fixtures were showing rates further improving for spot business ex Indian Ocean. A 57,000 dwt fixed $11,750/d bais dely EC India to load iron ore to China was followed by a similar unit that achieved $13,000/d for similar business. S Africa remained low with Handymax fixing $9,000/d + $200,000 bb from Maputo to FEast and a 33,000 dwy getting $8,100/d from Richards Bay to Cont.
Banchero Costa and Co Spa
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