Capesize (Atlantic and Pacific)
The market remained stable through most of last week, then it moved up rapidly in the last two days with much stronger rates seen especially in the Far East. Rates for West Australia to China were reported up to $14.00 range or even more for prompt loading and the Time-Charter rates jumped above $30,000 mark reaching even in excess of $32,000. The Atlantic market has also improved with rumors that the iron ore from Brazil to China may have fixed up to $31.50 and consequently the T/a round moved up to about $35,000 level.
Panamax (Atlantic and Pacific)
The Atlantic market was quite flat with Trans-Atlantic rounds being talked at $15,000 daily. Some prompt cargoes allowed early vessels to get good rates, but, in general, the round voyage didn't see much improvements. Trip to Far East was hovering at $25,000 daily level. Fresh USG grain cargo could not cover the need of the vessels ballasting from the East and cargo from the ECSA became fewer. After struggling for a long time the Far East side finally saw some positive trend by the end of the week. Some charterers were ready to pay $12/13,000 daily for a good LME in Japan. Vessels in S.China were still suffering lower rates at around $10,000 daily for Indonesia or Australia round. Some charterers were looking for short period candidate at low rates; market level was talked at $12,000-$12,500 daily.
Handy (Far East/Pacific)
The market was still under pressure. As a result there was a long list of fancy tonnage reported fixed at very low numbers. Charterers managed to fix almost all their Supramax requirements ex Southeast Asia basis delivery aps, at small daily rates and small ballast bonuses. A 57,000 tonner was fixed delivery dop South Korea for a trip to India at dramatically low rate. Short and medium periods were still to be finalized, with Supramaxes fetching levels similar or slightly better on some occasions than last dones. Smaller Handies were getting proportional better money, both for single voyages and period.
Handy (North Europe/Mediterranean)
Fresh activity was reported from Northern Europe with Supramaxes and Handymaxes agreeing nice rates for business into the East and into the Red Sea with Mediterranean repositioning. From the same region Handysizes were booked for trips to Americas at firmer rates compared to what larger tonnage would have reached basis loading ex Black Sea. Med market was soft, which may lead to lower market trend later on. An Handymax managed to get a good rate with delivery ex-Greece. That soothed the owners' worries about a negative trend.
Handy (USA/N.Atlantic/Lakes/S.America)
The U.S. Gulf, even if seemed to be the most solid trading area for Supramaxes, had a contradictory trend last week. The market opened soft with charterers' attempt to push down TransAtlantic rates. In the middle of the week two good fixtures (a trip into the Far East and a trip to WCCA) were agreed, but by the end of the week, TransAtlantic and East bound business were conclude at lower money. Interests for larger tonnage to load ex South America was smaller, but Handysizes were getting nice money on the TransAtlantic trades.
Handy (Indian Ocean/South Africa)
Almost no fixtures reported with the exception of a Supramax booking the usual India/China iron ore run at lower levels. Congestion at Indian ports was delaying tonnage availability allowing some owners to push rates upwards, until their tonnage went spot. Smaller Handies were fixed at slightly better rates on local trades within the Persian Gulf, India and African/the Red Sea waters. The max 25 years age restriction for trading the Indian Gujarat region, in force since the last monsoon season, brought serious trading problems to local owners of elder tonnage.
Banchero Costa and Co Spa
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