Capesize (Atlantic and Pacific)
Last week there were finally some signs of life in the market. Finally new cargoes from Colombia appeared again in the market and were covered by fixed at around $3,000 for destination Continent. Front Haul business from Brazil to China for the first half of September was settled in the low $17s. Pacific market was active during the second half of the week on key route West Australia to China that was fixed at high $7, for prompt dates. More activity was registered as well from South Africa: Saldanha Bay/Qingdao was fixed at mid $12 with charterers bidding in the low $12s at the end of week. Short period levels were again a bit softer as it was reported a fixture in the high $7,000 to $8,000 for 4/7 months.
Panamax (Atlantic and Pacific)
The market turned firm during last week, in particular in the Atlantic basin. Such trend seemed to be unsustainable by the end of the week with Baltic Panamax Index that dropped again. In the Atlantic the candidates in Baltic Sea got some premium fixing at $8,000 daily for Transatlantic round or mid/high teens for fronthaul business ex USG. Vessels in South Atlantic suffered lower rates i.e. $14,000 + 400,000 for ECSA round, South American grain season is finishing. In Pacific the market saw some positive trend by the mid of the week, after several cargoes were covered, the market turned quiet again. By the end of the week Indonesia round was still done at $7,000 + $80,000 bb daily level and NoPac round at $7,500 + $350,000. Some charterers were still looking for short periods at rates in the low $8,000 for good vessels for around 4/7mos.
Handy (Far East/Pacific)
Most of Supramax activity was still on the Indonesia/India coal trade. Several fixtures were reported with some owners achieving positional benefits and other accepting lower rates. Tonnage with low/average spec struggled to get a positive return after bunker expenditures. South East Asian destinations were concluded at lower rates in exchange of better redeliveries and in order to avoid piracy issues. The Indonesia/North China nickel ore trade was active again and better rates, compared to the Coal trade, were agreed due to the redelivery and the commodity hitch. A renewed interest to load ex NoPac back to East firmed rates at $8/8,500 daily with Far East delivery. Also period business was active with a 52,000 tonner reported at $8,500 with delivery N. China for 3/5 months duration and another Supramax rumoured at around $9,000 plus a very small ballast bonus for a 12 months period and an option for another 12 months. Handysize rates softened further below $5,000 daily for local trips whilst a 35,000 tonner got a much nicer $7,000 for an Australia/Taiwan trip with delivery Singapore.
Handy (North Europe/Mediterranean)
Activity from these areas went through a further slow down. An Handymax was fixed for a trip ex Continent to East Med (inactive area), loading scrap delivery Las Palmas at $6,500/day. A Supramax was rumoured fixed at $6,500 daily spot delivery Continent for a trip to US Gulf with no further details. Another Supra fetched $10,000/day for a trip Bsea/WAfr and will then face the decrease of South American market, not to say that a similar unit was rumoured at only $6,500 daily for a trip from WAfr to Continent. Owners at the moment being are not considering anymore the Black Sea a "loading area".
Handy (USA/N.Atlantic/Lakes/S.America)
Market ex Atlantic Americas kept trading downwards. Even if some fresh interests to load grains from the US Gulf appeared, Supramaxes accepted lower rates for TransAtlantic business, a bit closer to East Med destinations as a compensation for the redelivery area. As a consequence considerably lower rates were agreed for Western EU, while an Handymax, due for positional reasons still managed to get a better rate for a trip from US Atlantic to North EU. Tonnage in US Gulf could agree slightly below $20,000/d fir Far East redelivery and around $16,000 for WCSA. On smaller sizes only one fixture was reported from this area at a rate which is not too bad, but tonnage still available in the area is struggling to find employment. Demand still available is mostly to WCSA that owners are trying to avoid, charterers are under-rating the small amount of tonnage available for TransAtlantic employments.
Handy (Indian Ocean/South Africa)
The small amount of demand is mostly limited to local trades. While the iron ore trade India/China remains a dead-duck, India kept supplying from South Africa part of its need for coal. A fancy 57,000 tonner was fixed at $12,500/d delivery dop Mombasa: considering the delivery dop and the redelivery India the fixture don't look very attractive. An Handysize agreed $6,200/d from S. Africa to Med, better than a little higher rate to go S. America and then bear the ballasting costs.
Banchero Costa and Co Spa
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Internet: www.bancosta.it