Capesize (Atlantic and Pacific)
Capesize market was again quite volatile. Bad weather had huge impact on rate for Aussie round voyage as it caused big disruption on ships in China which needed to be substituted. On the standard route from West Australia to Qingdao rates jumped up to over USD 9 pmt for late October loading. Later in the week, freight rates were down to mid and even low USD 8 pmt. Brazil was quieter: at the beginning of the week trades from Tubarao to Qingdao showed rates in the upper USD 17 pmt and gained USD 0.50 pmt over the week. The Atlantic market was similarly buoyant with the key route from Bolivar to Rotterdam trading mid USD 10 pmt and most of tonnage looking to maximize their income by fixing fronthaul cargoes.
Panamax (Atlantic and Pacific)
It’s still a fair good market despite the beginning of week started a bit slow and lousy. During the week rates failed to make further gains due to off-set between Atlantic and Pacific, where rates were pushing at much higher levels. In the USG there is a big difference between 1st and 2nd half of November for grain cargoes to China: 10-20 November done at USD 43.75 pmt whereas 1-10 November was fixed at USD 41.75 pmt. TransAtlantic business were limited with few fresh enquiry and rates under pressure as more supply of tonnage. In the Pacific, North Pacific grains leading the market with added support from numerous coal steams to India. A newbuilding Kamsarmax fixing at USD 16,500/d from South Korea for a NoPac round voyage, while last week a 2013-built Kamsarmax was concluded at USD 13,500/d delivery CJK, China for same route. Period rates too firmed with a 2006-built 76,000-dwt allegedly booked for five to seven months at USD 13,500/d and a Kamsarmax got USD 11,500/d for 20/26 mos where same vessel was fixed USD 1,000/d less few weeks ago for same period.
Handy (Far East/Pacific)
The Supramax trend kept steady with daily timecharter rates showing a small growth on most of the usual trades, while Handysizes stabilized to reasonable levels for owners. A 56,700 dwt built 2012 delivering at Fangcheng fixed a trip with coal from Indo to India at $12,500/d, a 63,000 tonner got $13,250/d from S China to the MEG, and a similar type delivering Ko Sichang was taken for a trip to Bangladesh at $15,275/d. For this type of vessel nickel ore trade from Philippines to China showed to pay $13,800/d with dely Lanshan. A 58,000 dwt was fixed for nickel ore at $14,500/d with dely HK. Coal from Indo to China showed a Tess-52 paid $14,000/d with dely Spore. More Handysize fixtures were reported this week, a 28,400 dwt built 2015 delivering at Taichung was taken for a trip with sugar via Australia to Japan at $9,650/d, a very similar vessel delivering S China was also fixed loading sugar from Thailand to Indo at $9,000/d and a 37,100 dwt delivering Nagoya performed a trip to SE Asia at $10,100/d. A 34,300 dwt was taken for 2/3 ll dely Indo at $11,500/d.
Handy (North Europe/Mediterranean)
Cont market during last week showed a good activity both on Handies and Supras. A 33,000 dwt was rumoured to have fixed bss dely Cadiz for TCT via the Cont to WC Colombia at $13,650/d, while a similar vessel for a trip to the E Med with scrap got around $15,000/d. A premium on the rate was achieved for same trip on a 40,000 dwt reported to have fixed $18,000/d bss dely Cont for TCT with steels to Israel. Also Supras showed a good activity with a 57,000 dwt reported fixed bss dop Finland a prompt trip via Ust Luga to Morocco at $18,500/d carrying probably coal. A 56,800 dwt 2012-built open Liverpool clean was fixed for a run via the Baltic to ECSA at $10,500/d for the first 45 days with a higher balance rate thereafter. A good week for owners is expected with firm markets across the board, restricted tonnage availability and a good flow of fresh business.
Handy (USA/N.Atlantic/Lakes/S.America)
The USG market reported another firm week. Notwithstanding petcoke and coal fob price moved up, many cargoes have been fixed either for Europe, F East or WCCA also with grains. Ultramaxes agreed $18,000/d for USG/Med (around $1,000/d more than last week) and $25,000/d for India; while Handies got around $15,000/d for trip to the Med. S Atlantic market continued on its positive trend. Trades via ECSA to Skaw/Passero range gained $100/200/d every day for the whole week. A 58,000 dwt ballasting from WAF fixed a good $19,500/d aps N Brazil for a trip of about 45 d to Algeria. Another Tess 58 with dely Durban reported trading a long trip via Upriver to Yemen with redely Port Said close to $13,000/d level, but the fixture was not concluded because owners were asking $14,500/d. Strong rates if compared to the previous week. For fronthaul the situation has been favourably as well: a Tess-58 dely WAF for a trip via ECSA to China recorded an increase of around $200/d every day. A 56,000 dwt was fixed with dely Abidjan ppt for a trip with sugar via Santos and redely India/Japan at $17,000/d, underlining the bullish market trend. For the same trip, but bss Aps Argentina the Tess 58 were asking $15,500/d + $550,000 bb and claim getting $15,000/d + $500,000 bb for very end of October loading, which is more than bigger Ultramaxes fixed the week before. The general expectation for the incoming weeks remains good, so many owners were not in a hurry to bring their vessels to Far East, like they often do order to maximize the revenue for the closing of the yearly budgets.
Handy (Indian Ocean/South Africa)
The market in the MEG-WCI performed well and owners are asking higher numbers. The week started with a 63,000 dwt fixed $14,000/d bss dlosp New Mangalore for trip via the MEG to India, in the middle of the week a Tess 58 ex WCI was heard to be fixed for MEG-WCI at $13,000/d, while on Friday a 56,000 dwt has been rumored to fix high $13,000/d for 2 ll dop Mumbai for a duration of 45-50 days. A 56,000 dwt dely Mina Saqr couldn't find $16,000/d for a trip to WCI, but it’s rumored to have agreed mid $12,000/d for 5/7 mos period. She later heard fixed for an inter MEG trip with further details unknown. Iron Ore from Iran back in the market showing a 56,000 dwt reported fixed ex Dammam to China at $16,500/d levels and a 51,000 dwt grab fitted ship ex WCI was heard on subs for Iran-China in excess of $15,000/d levels bss dely WCI. S African market showed a quiet week with not many stems out of Richards bay, probably for issue on the trading side but rates remained still very solid mainly thanks to also a firm market in ECSA and in the MEG. Tess 58 were still asking very close to $13,000/d + $300k bss aps.
Banchero Costa and Co Spa
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