Capesize (Atlantic and Pacific)
A negative week for the Capesize market in all basins. In Pacific the standard W Australia China route quickly dropped to around $4.70/mt for early July dates and TC done in the $7/7,500/d range. Saldanha Bay-Qingdao was fixed at a low $8.35/mt basis mid July. The biggest drop was registered from Brazil where $10.5/mt was agreed in the middle of the week, although a slightly better low $11/mt was agreed afterwards. Some vessels were reported at $6,000/d basis dely passing Cape of Good Hope for TCT via Brazil to Skaw/Passero range. In Atlantic the C7 was traded below $6/mt for early July dates with a TCE around $7,000/d. Almost absent the period activity with a report of a short period on a small Capesize done at $12,000/d basis dely F East.
Panamax (Atlantic and Pacific)
A strong week in the Panamax sector: rates improved in most areas, especially in South America. From this area a 2006 built, 76,000 dwt was fixed for early July dates to F East at $11,000/d + 575,000 bb. A similar ship built 2008 was booked from Kandla for a trip via ECSAm to F East at $10,250/d. North Atlantic rates were also strong with top fixture at $19,000/d for a 77,120 dwt built 2015 from Gibraltar via Kamsar to China. The strong trend was noted in particular on short haul trades from Baltic to Cont and Med with rates hitting $11,500/d. ECSAm to Cont with a Kamsarmax was fixed at $14,000/d from Recalada to Skaw/Gibraltar. Improving rates were seen also in Pacific where a Kamsarmax open N China was fixed at $9,000/d for a NoPac RV. Period rates moved higher and a 75,700 dwt built 2004 was fixed at $9,750/d for 8/10 months trading with Norden basis Sual mid July.
Handy (Far East/Pacific)
Increasing interests to move Nickel Ore from the Philippines to China ended up in a list of Supramax and Ultramax tonnage fixed throughout the week at firmer and firmer levels: at the beginning of the week a 56,700 dwt got $8,000/d basis dely EC China, on Friday a 55,500 with same dely was fixed at $9,500/d. Improved levels were also agreed for large units to the Middle East: a 64,000 dwt got $9,500/d from EC China to WC India/MEG range, afterwards a 60,900 dwt achieved $9,500/d on a very similar trip and a non-eco 56,600 dwt with dely N China agreed $8,600/d to WC India. The increasing trend generated additional interest for 3/5 months period for which a 59,994 dwt dely EC China was fixed at $9,000/d and 2 units 56,700 dwt got $8,500/d with dely N China.
Handy (North Europe/Mediterranean)
A firmer $10,250/d was reported for a 50,000 dwt with dely Ireland to perform a trip with scrap loading Riga to E Med. On the same trade a 37,600 dwt got $9,000/d with dely Cont. From the same area a 37,600 dwt with dely S Norway got $6,500/d for a trip via Murmansk to River Plate and a fancy 58,000 dwt dely UK was booked for 4/6 months period at $12,250/d. Activity from Southern waters was still slow and less attractive for owners. A tess-52 from E Med to WAfrica got at $8,000/d and a 33,000 dwt dely Cannakkale was fixed for a trip via BSea to Egypt Med at an increased $6,000/d mostly due to the vessel having to carry steel products.
Handy (USA/N.Atlantic/Lakes/S.America)
The positive feeling consolidated last week for large tonnage out of USG. A 58,000 dwt with dely Cristobal was fixed at $20,850/d via Atlantic Colombia to WCSAm and on a similar trade a 37,000 dwt was fixed on subs at $16,000/d with dely SW Pass. Fronthaul from USG reported 2 x 61,000 dwt fixed to Spore/Japan range at $21,000/d and a 58,000 dwt that got $19,350/d. On the same trade a 55,700 dwt non-eco type was still paid $16,750/d. At the end of the week there were rumors of a Petcoke cargo to India to be fixed at a very high $20,000/d. TransAtlantic trades were much slower, in any case a 56,000 dwt got $12,800/d for a trip to Turkey/Egypt range and a 38,700 dwt from EC Mexico got $10,000/d. From S America a prompt 55,000 dwt agreed an unattractive $10,250/d from Tubarao to Port Said, whilst fronthaul trades showed a definitely more optimistic trend: a 53,000 dwt agreed $12,800/d + 280,000 bb from ECSAm to Spore/Japan. An Ultramax was on subs at $13,300/d + 335,000 bb to China and two other units were said to be fixed at same rate for a trip to India.
Handy (Indian Ocean/South Africa)
While the festivities are near to an end some further deals were reported concluded even if the actual rates direction will need some additional time to show up. A 58,000 dwt with dely MEG was taken for 4/6 months period at $8,750/d with first leg from S America. A 57,000 dwt non-eco type with dely EC India was fixed to perform a trip via MEG to SE Asia at $8,750/d. A 55,000 dwt agreed $10,000/d for a trip with Mineral from Jebel Ali to WC India and a 39,700 dwt with dely WC India was fix for a trip to China around $6,750/d.
Banchero Costa and Co Spa
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