Capesize (Atlantic and Pacific)
Capesize market suddenly changed direction last Thursday with a minus 189 points and a minus $ 2.493 on the 4 t/c routes. There was an ease in the East where the iron ore from West Australia to China returned at a level of usd 12.00 or just below after having reached $ 13.00 or even tick more the days before. Atlantic area still seeing an heavy lackness of ships becoming open in the north Continent but at same time the amount of requirement is also quite low and therefore the market came down in Atlantic as well. Time charter fixtures remained at about low $ 30,000 for short/medium period.
Panamax (Atlantic and Pacific)
After rocketing for the first 3 days, rates became a little loose to end the week. In Atlantic, fronthaul to the East kept becoming firmer day by day and remained high in the end of the week while round voyage was relatively soft with limited trades. The East experienced rapid rise on rates especially the Southeast Asia biz. An extreme lack of spot vessel pushed rate to a high level in the middle of the week, but it trended down for lack of solid future support. Short period rates also kept rising until the end of the week which saw some dropped down.
Handy (Far East/Pacific)
Supramax size owners struggled to manage keeping rates to levels similar to last dones and reports showed they could not always manage to succeed. Large modern types coming open in Southeast Asia were still achieving time-charter rates in the region of $20,000 daily for nickel ore trips into China or mid teens/slightly more for coal trips into India. For these sizes the Nopac round was in the $17,000 mark and the backhaul was now done to $10,000 daily. Major Japanese charters were reported having booked a large eco Japanese n/b for ppt delivery at a high $ 20,500 daily rate for 2 years period although afterwards it was said that this fixture was concluded some time ago. Handysizes showed
Handy (North Europe/Mediterranean)
Scrap cargoes again lead the north European market, even though only one Supramax was reported into the East Med at realistic money, more vessels were rumored to be booked on this same trade. A couple of Handymaxes were also reported fixed from the same area into the East at rates which do not look bad at all for owners, considering that boat performed the trip via South Africa. Mediterranean and Black Sea were quieter with eastbound rates lowering even for tonnage table transit Gulf of Aden and insignificant trade to other areas.
Handy (USA/N.Atlantic/Lakes/S.America)
The week starting showed more activity and demand for the larger Handies which ended up into a very small number of reported fixtures confirming that rates for Trans-Atlantic and eastbound trips are basically unchanged. From this area the general scenario for smaller Handies was much worse and owners of prompt tonnage were struggling to find fixable business. Supramax rates from Latin America kept a bit lousy showing some reduction at mid week which afterwards stabilized to levels which are expected not to decrease any further. Smaller units kept trading Trans-Atlantic business in the low twenty.
Handy (Indian Ocean/South Africa)
A reasonable number of reported Supramax fixtures from India to China kept showing owners are enjoying healthier rates for business loading west coast as rates from the other side keep staying about $4/5,000 daily less. Another couple of larger modern types where booked for period at rates in the low $20,000's daily although once is for short duration and the other for one year trading. No reports were available for smaller units.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it