Capesize (Atlantic and Pacific)
Capesize market has been stable during the week with a bit of improvement at the end of the week, especially in the Atlantic basin. The Pacific market is not very active with rates in the usd 7-7.10 for standard Port Hedland/Qingdao. In Atlantic fronthaul, one fixture has done at an improved usd 18 due to Vale's taking couple of vessels. Rates for transatlantic have increased to usd 8.70-8. 75 basis for Puerto Bolivar/Rotterdam.
Panamax (Atlantic and Pacific)
The market is covered by desperate mood and very few signs show an upward trend in the near future. By the end of the week, candidates for a trip within Atlantic were talked at $2,000 daily level and more charterers prefer to do on voyage or aps del basis. For the trip back to Fareast from USG, fixtures were done at about $13,500 daily + $400kbb while the trip from ESCA was talked even less like $12,500 + $300kbb level. In the Pacific, the market see some bit of hope in the midweek with a few more Indonesia round put in the market. However, overwhelming number of tonnages swallowed the cargoes soon, leaving slower owners still desperate. The charterers could easily secure an LME for E. Kalimantan round at $5,000 daily plus $70,000bb or $5,500 daily plus $300kbb for North Pacific round. Considering the recorded low market, some charterers started to seek long period at $7,000 to $8,000 daily level for 2 years.
Handy (Far East/Pacific)
At the beginning of the week rates were keeping at previous week's levels, as showed by large numbers of concluded Supramax/Handymax fixtures. Slightly increased figures, however, occurred later on the Indonesia/India coal run where rates improved abt $ 500/1000 daily for tonnage delivering Spore. This positive trend was further seen on the Southeast Asia/China nickel ore fixtures, leading even into a general small improvement to all rates and indexes at the end. Various Supras were agreed for short period at rates around $9,000 daily, with a-55,000-tonner exception where $ 10,000 daily for 3/5 mos was agreed. The sole backhaul report was a rumored 56,000 tonner booking at very low $3000 daily level for a trip from Thailand to USG. If the Pacific market retains this improving trend whereas nothing similar happens in the Atlantic, will owners keep agreeing huge discounts for backhaul trip?
Handy (North Europe/Mediterranean)
Some fixtures emerging from the Black Sea confirmed that fronthaul rates (with the exception of a firm rate for a Supramax able to enter Iran) here have weakened considerably while backhaul business keeps missing. In northern Europe correction to last week's short period fixture showed that actual figures were even lower, washing away part of owners' optimism. Although still low for owners, Supramax sized scrap from this area to the east med touched higher money. For backhaul to Americas poor levels persisted even though some owners manage to compress the duration and bargain for better ballast bonus.
Handy (USA/N.Atlantic/Lakes/S.America)
More interests were focused on transatlantic trade, especially out of USG and NCSA from where several Supramaxes were fixed to ship coals to Europe. Rates initially kept similar to previous week's level and showed a slight improvement near the end of the week which was reflected by the indexes as well. Rate for South America - Fareast trip was fixed above $12,000 basis redel West Africa, while a few Supramaxes were fixed to load grains to Med at $11/12,000 per day.
Handy (Indian Ocean/South Africa)
There were still not a lot of deals for owners. The quantity of coal which India imports from South Africa was too small to benefit the rates. There were rumors that a few Supramaxes were fixed for short trade between PG India. A 57,000dwt tonner was agreed on a very low rate at $8,250 for one year, while a similar vessel was paid a better rate $9,300/day for 3/5 months.
Banchero Costa and Co Spa
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