Capesize (Atlantic and Pacific)
Market improved substantially last week as a result of increased activity mainly from Brazil, but also from West Australia. Iron ore cargoes were driving up rates in all basins. In Pacific, West Aus/China route fixed up to mid $12/mt. From Brazil to China charterer had to pay closed to $24/mt for December dates cargoes. Atlantic market was similarly very tonic with ships fixed in the mid-high $30,000/d for fronthaul from EC US and Canada. It was worth reporting renewing appetite to take in vessel on period: one year duration delivery FEast prompt was trading at about $19,500/d.
Panamax (Atlantic and Pacific)
During week 48 the upward trend seen the previous Friday continued. Positive sentiment kept building throughout the week and the strong activity on the USG/FEast trades led the whole Atlantic basin. Charterers were not in a rush, but rates for end December/beginning January dates loading out of USG still kept rising. Owners were targeting $19,000/d + $900,000bb on USG/FEast and charterers were at $53/mt on voyage basis. With a so strong USG, Atlantic tonnage was able to secure nice numbers not only on the trip out, but also on the Atlantic RV which hit the mid teens levels again. Pacific spot was positive as well, but seemed to lose momentum during the week. Period deals were largely traded at stronger rates in the $12/13,000/d level for the short period and one year deals.
Handy (Far East/Pacific)
Another very long list of Supramax fixtures were reported, most of the chartering interest was still linked to minerals from SE Asia to China, but also India was still active. Rates were quite firm. A 53,000 dwt with delivery close to the loading port got $20,000/d for a trip Indo to Philippines, a 56,800 dwt dely N China achieved $18,000/d for a SE Asia RV with Nickel Ore. A 58,000 dwt was fixed at $14,000/d basis dely China via Indo to India and a 56,000 dwt got $13,500/d for the same trip basis dely N China. A 55,600 dwt was taken at $18,500/d basis dop N China for an Australia RV and a 52,000 dwt got $12,850/d for a Nopac basis dely China and redely SE Asia (longer duration and better redely area). Backhaul business showed interesting improvements with a 53,000 dwt achieving $6,500/d for a trip from N China to Brazil. Short period was active: an Ultramax got $14,300/d for 3/6 months and a 56,700 dwt a firmer $18,000/d for 2/4 months (dely Spore). A couple of 57/58,000 dwt were booked at $13,5/13,750/d for 3/5 months. Handies followed the positive trend with a 3 units around 35,000 dwt achieving $15,000/d for a trip Indo to China and $10,000/d both for a trip SE Asia RV via Australia and EC India via Indo to China.
Handy (North Europe/Mediterranean)
Improved market was registered also from N Europe with a fancy 58,000 dwt fixed for a trip from Cont to Feast via Good Hope at $22,250/d. A 30,000 dwt dely Cont got $16,000/d for a trip via Baltic to E Med with scrap. From BSea activity was still slow with no single trips reported, just a 56,700 dwt was booked for short period at $14,000/d basis ww redely. A 57,000 dwt got $18,000/d basis dely Algeria for a trip via S Spain to WAfr.
Handy (USA/N.Atlantic/Lakes/S.America)
With fronthaul business in Atlantic at full steam, also rates from S America kept rising with a very strong effect on TransAtlantic rates, now close to fronthaul levels. Rates for tonnage dely dop WAfr rushed throughout the whole week. A 58,800 dwt achieved $18,250/d basis dely Gibraltar via NCSAm redely Cape/Passero was followed by a similar unit reported at $16,500/d + $500,000 bb from Santos to SE Asia. After a 57,000 dwt got $19,250/d basis dely dop WAfr via S America to Japan and a similar unit with same dely achieved $18,500/d with redely SE Asia. A 58,000 dwt with dely WAfr got $20,000/d via ECSAm to carry grains to W Med and a 55,000 dwt with dely Angola fixed $23,000/d for a trip via ECSAm to Japan. Rates from USG kept trending upwards. A 45,000 dwt got $24,000/d for a trip with Grains via USG to W Med. An Ultramax followed with $31,000/d for Texas to WC Italy with Petcoke. A 56,000 dwt achieved $14,250/d for 11/13 months at the beginning of the week with dely EC Mexico, after two days was subletted for the first 4/6 months at $18,500/d.
Handy (Indian Ocean/South Africa)
Demand was still slow from this area, however a short list of prompt tonnage managed to keep rates at last done levels. A 53,000 dwt got $13,500/d basis dely WC India for 2 laden legs and redely FEast and a similar unit got $19,000/d to perform a very short trip from EC India to WC India which is less attractive.
Banchero Costa and Co Spa
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