Capesize (Atlantic and Pacific)
After a slow start the market gained momentum pointing to a very positive last quarter. Due to a lack of demand in Atlantic fewer fixtures were registered from this basin. The strike at Port Drummond seems to approaching an end even if news is still mixed. Rates for Fronthaul business however are soaring with ships done at $27/mt on voyage basis. Timecharter trip saw deals at $40,000/d. A large amount of coal is also reported from S. Africa for China. In Pacific the activity was good with BHP and Rio Tinto very active on their trades with China for Iron Ore, rates touched $12/mt a gain of $3/mt over last week.
Panamax (Atlantic and Pacific)
Last week started quiet, but ended very strong. The Atlantic basin is still lacking round requirements with only Baltic and BSea that still registered good rates. Also Baltic/FarEast was rumoured done at good numbers. USG for very end of September was still showing low levels between high $14,000/d and low $15,000/d especially if compared to short periods available in FarEast at around $9,500/10,000 per day for 4/6 months. Period rates in FarEast saw strong improvements for tonnage able to call USG at the beginning of October. The number of ballasters towards USG ended up in a lack of prompt tonnage in Pacific leading to a rise of freight rates on prompt dates. ECSAm remained very slow both for Atlantic and FarEast directions. Overall the BPI jumped 113 points to 1020 leading many owners on Friday to wait before committing their tonnage expecting an even stronger market next week.
Handy (Far East/Pacific)
Supramax rates for trips within FarEast kept growing and several vessels were fixed to load Nickel Ore from Indonesia to China. An Ultramax was reported at $15,000/d basis dely Hong Kong, another achieved $16,000/d with dely S China and a smaller/less Eco unit of 56,700 dwt got a firmer $13,000/d basis dely S China. The reflection on other trades so far was partial as a 55,000 dwt fixed aps NoPac for a trip to FarEast at $8,500/d + $360,000 bb and a 45,500 dwt got $8,000/d basis dely Davao via Australia into China. A fancy 55,000 dwt got $13,750/d basis dely aps Indo for a trip to India. Newly established Korean charterers took a $56,600 at $9,500/d for 2 years. Smaller activity on Handysize with a 31,000 dwt fixed a China RV via New Zealand at $7,000/d and a 27,000 dwt taking a backhaul trip from S Japan to SE Asia at a better $6,500/d.
Handy (North Europe/Mediterranean)
Supramax rates kept growing from N Europe and BSea, little more fixtures were reported showing the positive trend. Highest rates are available for trips to Middle East to balance the absence of cargoes from the redelivery area unless vessels are able to trade Iran to China, at nice rates. A 58,779 dwt was fixed at $22,550/d basis dely Port Said via BSea and PG, redely Muscat outbound. Another unit was taken with dely Muscat via BSea to Bangladesh at $9,000/d and charterers will pay for the whole ballast expenses including bunker, Goa trading, insurance and Suez tools. In E Med a 55,000 dwt was booked at $16,000/d basis dely Greece to load clinker to WAfr. From Cont the market remained active, but most of the deals remained confidential, a 53,000 dwt was fixed at $16,800/d basis dely Rotterdam via Cont to China.
Handy (USA/N.Atlantic/Lakes/S.America)
Improved demand for Supramax stems loading out of USG led to more activity, especially for TransAtlantic business with rates showing small improvements. A very fancy 58,000 dwt agreed $15,500/d for a trip to BSea. A 55,600 dwt got the same rate for a US Atlantic/Finland trip and a 54,000 dwt fixed at $14,000/d from NCSAm to BSea. A trip from Tampa to S Brazil on a 57,900 dwt was less attractive at $11,500/d. S American market was still extremely quiet with freight rates on a negative trend. A fancy 58,000 dwt was booked at $12,000/d for a trip Santos/Algeria and a 35,000 dwt got a better $9,000/d for 2/3 laden legs with dely Paranagua and redely Atlantic.
Handy (Indian Ocean/South Africa)
Little activity from this area and a slowdown was noticed on the Iran/China iron ore trade. Despite the above a 53,000 dwt achieved better $7,500/d basis dely EC India to China with Iron Ore. Another fixture is difficult to read since the vessel is TBN hence the distance from load port, Maputo, is unknown. A vessel ballasting from India would give as a result at least $1,000/d less than a straight trip India/China and even worst if considering the trip is 2 weeks longer.
Banchero Costa and Co Spa
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Internet: www.bancosta.it