Capesize (Atlantic and Pacific)
The Capesize market, despite the unstable sentiment in the Pacific basin, gained overall $500/d on 5TC average during the week. W Australia-Qingdao route was quite unstable: it gained $0.40/mt at the beginning of the week but lately some fixtures were done sub $7/mt and closed on Friday at $7.08/mt early October laycan. Pacific RV was a bit shaky as well ending the week at mid $16,000/d. Tubarao-Qingdao route went up gaining $0.70/mt during the week with some fixtures rumoured at mid-$16/mt for second half October dates and closed the week at $16.30/mt. Brazilian RV went up as well going from low $15,000/d to low $16,000/d. Saldanha Bay-Qingdao went up progressively closing on Friday at mid-$12/mt. In the Atlantic basin the market was quiet at the beginning of the week but then went up to $8.35/mt on Bolivar-Rotterdam route after gaining $0.40/mt. TransAtlantic RV followed the same path: it gained more than $1,000/d closing on Friday at $14,200/d. Fronthaul was quite stable at low $30,000/d. Not much activity reported on period.
Panamax (Atlantic and Pacific)
At the beginning of the week a limited activity was reported in the Panamax segment but as the week progressed there was a better sentiment in certain areas: nevertheless, there were still negative returns on indices. In the Atlantic basin activity was limited, in particular from ECSAm a lack of bids for mid-September dates was reported. In the Pacific basin some positive signs were recorded: owners had some better volume of fixtures and rates had a small increase especially in the North. On the contrary, in the South it was recorded an excess of tonnage. The week ended with 3 consecutive days of positive numbers on all routes.
Handy (Far East/Pacific)
After some weeks of regular trend, the market showed some signs of recovery especially on Supramax units while on Handies remained more or less stable. A 56,000 dwt with dely Philippines was fixed at $11,000/d for a trip to Indonesia with sulphur and a 53,000 dwt with dely S China was rumoured at $11,000/d for two laden legs with redely Spore/Japan range. Most other fixtures reported were to West direction: a modern Ultramax with dely S China was rumoured at $11,000/d for a trip via Indonesia to full India. Another smaller Ultramax with dely Philippines was fixed at $12,500/d for a trip via Indonesia to WCI and a Tess 58 with dely S China took $8,800/d for the same trip.
Handy (North Europe/Mediterranean)
The market was still strong in Cont both on Handysize and on Supramax units. In the Handysize segment, a fancy 36,000 dwt was rumoured at $15,500/d basis dely Cont for one tct with grains to WAfr, 35/40 days duration wog. In the Supramax segment, there were rumours of two 55,000 dwt units fixed at $15,500/d with scrap Cargo out of Cont to EMed, 35 days duration wog: these rates showed how firm the market was in the area. After some weeks of strong market, levels in BSea came off for every size. Rates on Handies were steadier: Backhauls to USG and ECSAm were respectively stable at $10,500/d and at $9,500/d. Rates on intra Med biz were at $10,000/d and period rates were in the $10/11,000/d range. Rates on trips to Cont decreased with fixtures recorded in the $8/9,000/d. In the Supramax segment, rates on Fronthaul to SE Asia were in the $20,000/d and to India were around $22,500/d. Rates on trips to WAfr were around $14,000/d. Not much better values on intra Med biz: rates were in the $10/11,000/d and on backhauls around $8/8,500/d.
Handy (USA/N.Atlantic/Lakes/S.America)
Supramax and Ultramax segments kept showing levels similar to previous week. On TransAtlantic RV, rates on Supramax units were still in the $15,000/d while on Ultramax units were around $16,000/d. On Fronthaul, rates on Supramax units were closer to $20,000/d while on Ultramax units were in the mid $20,000/d. An upward trend was recorded in the Handysize segment with a lot of activity: 32/35,000 dwt units were rumoured around $12,000/d while larger 36/39,000 dwt units were in the $15,000/d on TransAtlantic RV. In ECSAm the market changed trend going from a negative to a positive sentiment. Anyway, compared to previous week, levels remained flat especially in the Supramax and Ultramax segments. Major gains were recorded on trips to Cont/Med on Handies: rates went from $11,500/d to $12,400/12,500/d. Rates on trips to F East remained absolutely flat around $16,000/d. Rates on Brazilian coastal trips were rumoured in the $11,000/d aps/dop range, $500/d more than previous week. On bigger sizes, rates on trips in the Atlantic showed similar levels of previous week around $17,000/d on Supramax units and around $18,000/d on Ultramax units. Rates on trips to F East were pretty much unchanged as well: on Supramax units they were around $14,500/d+450,000 bb and on Ultramax units around $15,000/d+500,000 bb.
Handy (Indian Ocean/South Africa)
The market kept showing positive levels in the area on most routes: Supramax units on MEG-India were fixed around $12/13,000/d basis dely dop WCI with limestones with redely ECI (a bit discounted for WCI redely). Similarly, for aggregates and clinker biz via MEG to Bangladesh, Supramax units were fixed around $13,000/d basis dely dop WCI. A Ultramax was rumoured at high $12,000/d basis dely WCI on short period and another Supramax was on subs around mid $9,000/d for 3-5 months. The market showed positive signs from ECI over the week: Supramax units were rumoured around $11/mid $11,000/d for ECI-China with iron ore cargoes. A 56,000 dwt was rumoured around $12,000/d basis dely Haldia for such biz. Numbers from SAfr seemed to be stable with Supramax units being fixed around $11,500/d+150,000 bb basis dely aps SAfr for MEG-WCI redely. Rates on Ultramax decreased going from low $12,000/d+225,000 bb to mid $12,000/d+250,000 bb basis dely aps with similar redely.
Banchero Costa and Co Spa
Email: research@bancosta.it
Internet: www.bancosta.it