Capesize (Atlantic and Pacific)
Another strong week for the capers with the indexes increasing a further 821 points and the 4 t/c routes gaining further $ 11,876 ending at an average of $ 178,052. Especially Atlantic market, in view of lack of prompt tonnage showed the most impressive increase with modern capes fixing one T/A round voyage well in excess of $ 200,000 and increasing further with a big 203.000 dwt fixing at a very healthy $ 235,000. East market has not shown the signs of Atlantic although is still quite active with iron ore WC.Australia/ China traning in the $ 30.50 level which corresponds at about $ 150,000 level on BCI type. Activity is very well sustained also on short/medium period T/c with almost 7/8 capes being taken at an average of about $ 150,000 level.
Panamax (Atlantic and Pacific)
For all the week market was more and more strong; the combination of fresh inquiry particularly for ore cargoes from South America and very tight tonnage availability keept the rates very firm. On top of it many owners preferred short period business to maximize their profit and so additional demand for period vessels brought with 5-7 months trading at Usd 90,000 levels. Pacific market also followed the Atlantic in same direction of rising and very good improvements there have been noted nevertheless same owns are said to be considering ballasting to the stronger Atlantic or willing to give a little on backhauls.
Handy (Far East/Pacific)
A dull starting of the week showed poor activity on the spot and only few fixtures agreed at lower money, Supramaxes in particular suffered this trend. On Tuesday market was further hit down by the holiday in Japan that in connection with the coming golden week is washing away a lot of players. Larger period activity was seen in Supramax segment with improved money agreed. The spot market kept it's down trend and rates for backhaul employments have become quite low.
Handy (North Europe/Mediterranean)
Expanding volume of scrap exportations from the Continents keeps this area very firm with higher and higher rates agreed into East Med and charterers involved with Middle and Far East bound enquiries are simply being ignored by owners. In spite of the larger number of tonnage ending up in Eastern Mediterranean rates picked up due to the number of enquiries from Black Sea to Middle and Far East and owners will only trade their tonnage there "by inducement".
Handy (USA/N.Atlantic/Lakes/S.America)
A good start of the week for owners fixing their tonnage for loading U.S. Gulf and South America, the forthcoming and widely celebrated labour day holiday didn't bring any impact on market levels. The flurry of activity seen on April 30th confirmed the "holiday interruption" which should not be affect the levels. Firmer rates were seen for period fixtures. Week ended up quietly as a lot of the operators will only return to work on Monday.
Handy (Indian Ocean/South Africa)
Rates fo India to China showed stability compared to the previous week with a closer leveling between what owners could achieve from the West Coast compared to the tonnage delivering on the Eastern one. Higher rates were agreed for business ex South Africa to stay in the area, as a logical consequence of the compelling South American market.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it