Capesize (Atlantic and Pacific)
Positive trend in the market continued this week with Atlantic leading the tendency. Prompt vessel with early October cancelling got fixed in the mid high $23 for Tubarao/Qingdao voyage. For forward dates mid $22 was the support level for fronthaul route while Transatlantic Round settled around $9,000 level. In Pacific charterers had to pay up to $9 for West Australia/China registering a big improvement compared with last week. And despite holiday in China, there was very good activity with renewed interest for period. Last done levels were about $11,000 for 4-6 months period but now owners were looking to realize more than that given the improving market.
Panamax (Atlantic and Pacific)
The market finally bounded up strongly after a whole dark month with BPI stood at 598 by the end of the week. In the Atlantic, the rate kept rocketing to a higher level. By Friday, fronthaul trip ex USG went back to $13,000 to $14,000 daily level dop del Continent and short Baltic round within Atlantic was done at $4,500 daily, which was a great improvement compared to the $500 daily last week. Charterers were trying to lower down the rate but encountered owners' resistance. From the Pacific side, while Chinese holiday hiding some cargo orders and tonnages, the market was nevertheless influenced by the Atlantic side and edged up to higher hire level. For Indonesia round, charterers had to take candidates on dop del basis again with the LME being paid low 4,000 daily for such business. Some charterers could still secure vessels in N. China for Nopac trip but rate was of course also higher at $6,000 daily plus $350,000bb. There were several short period fixtures done at $7,000 daily or even higher level, leading owners to hold higher expectation.
Handy (Far East/Pacific)
China was closed during the whole working week and S. Korea was off as well on Monday. The initial lack of activity in the Pacific area did not last much longer as local charterers kept booking tonnage, mostly still moving Indonesian coal to India. An early attempt to lower the rates failed rapidly and fixtures stabilized to previous week's levels with occasional small improvements on rates. The holidays seemed to wield larger impact on other routes, with dwindled interest for trips back to China fixing at lower money and almost no activity on Australia, Nopac rounds and backhaul business.
Handy (North Europe/Mediterranean)
No fixtures at all were reported concluded from N. Europe although the scrap export from there to east Med slowly carries on, a Supramax was rumoured to have been agreed in excess of $13,000 daily basis loading Baltic and a similar size was said to have been booked at around $12,000 daily basis loading Ghent, but neither fixture was reconfirmed. None of concluded deals were given for business loading as well from Med and Black Sea, where the requirements that need to be covered kept floating in the market through the week and no prompt tonnage was seen available.
Handy (USA/N.Atlantic/Lakes/S.America)
Rates kept weakening for Supramax business. From the USG to the Feast an early deal reported $18,100 daily was agreed for a 56,000 dwt to carry petcoke to S'pore-Japan range which was followed by a larger fancy type getting only $17,000 for a similar employment. No transatlantic fixture was reported for these sizes but a Supra was said to have fixed a trip to Europe at around $11,000 daily. Better rate of $7,000 daily was reported on a 29,000 tonner for a short trip ex USG into Caribs, even if the cargo is said to be discharged at Cuba. Similar sized tonnage appeared to still enjoy a reasonably good market from S. America, both for transatlantic and coastal business. As underlined by the reported fixtures, larger sizes did not receive many enquiries from this area and a 57,000 tonner was seen fixing a trip into the east at quite near to previous week's levels.
Handy (Indian Ocean/South Africa)
The chartering demand was extremely low from Indian and AG areas. The available prompt tonnage was seen ballasting to Singapore or to Durban and fixing rates were far below what would have been required by owners to cover the ballast leg. Reported fixtures were available only for business loading at S. Africa where the agreed aps rates were not good at all for direction Feast and awful for coming back to Atlantic.
Banchero Costa and Co Spa
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