Capesize (Atlantic and Pacific)
A very unstable market was characterized by bumping rates throughout the week. In Pacific the market was still active even if a low quantity of cargo were moved. West Australia to China went from mid $11/mts to high $10/mts on Friday. Also from East Australia activity was limited and rates lower, from very high $20,000/d to low/mid $20,000/d by the end of the week. In Atlantic activity slightly improved even if the sentiment was softer. TransAtlantic round closed below $30,000/d. The trade between Tubarao/Qingdao was very thin, almost inactive. Period business was again very limited with some units agreed for 12/15 months at $19,250/d and 5/7 months at $23,000/d.
Panamax (Atlantic and Pacific)
The Atlantic market was quite tight for prompt tonnage, especially in Continent. This allowed owners to get higher freight rates for Atlantic RV, 2 legs and trip out; because of this situation E Med delivery became more and more an interesting option for several business. USG delivery registered strong numbers as well for end of October and beginning of November dates. The market in Far East was slower and saw lower rates from charterers. However requirements are not missing and India redelivery is still at a small premium on the Pacific RV, the pressure was coming from a longer list of tonnage available that creates larger competition. Overall the index gained 36 points closing at 2060. Short period activity, up to one year is still very active.
Handy (Far East/Pacific)
The holidays slowed the requirements loading out of Indonesia, the country that became the most important exporter in Pacific waters for some time, at least on these sizes. A few Supramax were fixed during last week at rates trending sideways. Smaller demand built up some tonnage surplus. Fixtures to Chinese destinations were reported only for Nickel Ore cargoes. A 57,000 dwt agreed $15,000/d basis dely S China, a 50,700 dwt agreed $13,500/d for a very similar voyage. India coal imports only committed a few Supramax. A 56,600 dwt fixed at $16,000/d basis dely Spore and redely EC India, a 53,000 dwt dely at load port fixed $12,000/d + $150,000 bb basis redely full India. Period interest was very limited with a 58,700 dwt fancy type reported at $12,000/d basis dely Taiwan for 2/3 laden legs and max 3 months duration.
Handy (North Europe/Mediterranean)
In this area rates firmed up further for all sizes even if no Eastbound business was reported. The available fixtures seem to be enough to describe the positive market trend. A 47,000 dwt agreed $19,000/d to load Scrap in N Europe to E Med. From BSea a fancy 58,000 dwt achieved $11,250 for a trip to N Spain and afterwards a 52,000 dwt got an even better $12,500/d for a trip to N France. On the Handy, a 32,000 dwt with ppt dely achieved $11,750/d for 3/5 months from BSea.
Handy (USA/N.Atlantic/Lakes/S.America)
Smaller interests from Atlantic Americas did not affect yet Supramax rates ex USG. A 50,000 dwt agreed $20,500/d to carry pet coke to Continent. A 60,800 dwt achieved 23,000/d on a similar trip. A 56,800 dwt achieved $24,150/d to carry grains to the same area. For Med destinations a 47,000 dwt agreed $20,000/d to carry pet coke to BSea and a 58,000 dwt got $22,000/d from US Atlantic coast to carry coal. No deals reported on the fronthaul, but large fancy Supramax were still in the $30,000/d. The trade from S America was much softer, especially on Handies that suffered the most. A 30,000 dwt was rumoured at only $6,300/d for a trip from Brazil to W Med and a corn stem of 29,000 mts was booked at just $20.50/mts from Santos to Morocco. Despite the lack of demand from this area however a Supramax achieved $15,100/d + $525,000 bb for a trip from up river to FEast.
Handy (Indian Ocean/South Africa)
The holidays severely affected also this area in particular the exports ex Arabian countries, moreover the monsoon heavily hit EC India seems to have frozen the local trades with no reported fixtures available. Owner unwilling to ballast out of the area were particularly aggressive on rates, but no deals emerged.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it