May 29, 2017 – June 2, 2017 Weekly market report.. Banchero Costa

martedì, 06 giugno 2017 12:26:22 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific) 

 

Capesize market struggled to find a support last week. Rates took a dip on both Atlantic and Pacific side passing from low 6 USD/mt to mid-high 5 USD/mt for the standard route from West Australia to China, and from low 14 USD/mt to mid 13 USD/mt for the routes from Tubarao to Qingdao. The only increasing market has been the iron ore trade from Pepel to China which paid up to mid 14 USD/mt. The increase has been mainly due to bad weather approaching and risk for owners to have their vessels stuck in there. At the end of the week, most of the owners were resilient to accept current market rates and preferred to ballast their ships waiting for better times.

 

Panamax (Atlantic and Pacific)

 

Another week with no signs of recovery was registered and there are no good feelings for any improvements in the short time either. North Atlantic market saw TransAtlantic rates barely at $6,000/d for standard types. A lack of sustained activity from South America has impacted on the Atlantic and Asian markets and charterers running spot cargoes have been able to secure tonnage at rates in the low-mid $8,000s per day plus bonuses around the mid $300,000s. 

In the East, a lack of NoPac business has left many ships sitting idle and despite watching a falling South American market some owners still preferred to ballast there rather than to reach the USG. Of those charterers with NoPac cargoes some have asked for a USG load option. An eco 82,000 dwt 2013-built open Hachinohe secured $7,000/d for a NoPac round while a 2017-built Kamsarmax open Qingdao agreed the same rate for a bauxite trade from N Australia to Singapore-Japan range. Some vessel was reported fixed on an APS basis, especially on the short runs, with a 2010-built Kamsarmax fixing from Tarakan to Malaysia at $6,000/d plus a $65,000 bb and $5,000/d plus a $50,000 bonus for older and smaller types.

 

Handy (Far East/Pacific) 

 

The chartering activity in these waters was found to be very limited and, as a consequence, rates slowly decreased throughout the week. The standard trade from China to SE Asia showed a 57,000 dwt fixed from Fangcheng to Philippines at $6,500/d and another comparable vessel was agreed at $7,500/d from EC China to a similar destination. On the other way round, another analogous unit got $7,400/d from Indonesia to S China, and a smaller Supramax delivering Thailand was fixed at $6,100/d via Indonesia to S China. A Tess-52 delivering at Indonesia got $7,500/d for a short employment in the area.

 

Handy (North Europe/Mediterranean) 

 

A lack of activity in the European market maintained the trading very low in the area. A 50,000 dwt was reported fixed from Marmara Sea via B Sea to Egyptian Med at $8,000/d and a nice 58,000 dwt with a similar delivery fixed a trip via B Sea to Indonesia at a low $13,250/d. Some interest to move scrap from N Europe to the E Med was reported showing a 53,000 dwt delivering N France fixed at $10,500/d for a trip via Cont to Turkey, and a Tess-52 delivering Gibraltar agreed at $7,500/d for a similar trip. A 30,000 dwt was fixed at $6,000/d carrying clinkers from Setubal to the U.K.

 

Handy (USA/N.Atlantic/Lakes/S.America) 

 

A scarce level of cargoes from South America was registered with Handysizes fixing at levels similar to the previous week. Despite the flat trend reported in the area, rates for Handysizes continue to look better compared to the larger vessels’ performance, more affected by the negative market in the last week. A Tess-52 delivering at Recalada was fixed at $9,000/d for a trip to Turkey, while a 32,500 dwt received the same rate for a trip from Santos to the West Med. A 37,000 size was agreed at $19,500/d for a quick trip with alumina to Norway. A 30,000 dwt was reported done at $9,250 from Brazil to South Africa and an Ultramax fixed a lower $11,750/d plus $185,000 bb from same delivery port to India. The USG /USAC range was even quieter, limited number of concluded deals were reported on confidential terms, Supramax rates for fronthaul and TransAtlantic rates were described as lowering by $1,500/$1,000 per day. Handysizes faced a similar negative trend on all routes.

 

Handy (Indian Ocean/South Africa)

 

The long lasting Ramadan festivities kept hampering the activity in this area limiting further the volume of the enquiry and affecting the rates, especially for the very few enquiries loading out of the MEG. A 53,000 dwt agreed a low $7,850/d from Mina Saqr to EC India, while a fancy prompt Handymax from South Africa to China fixed a better $13,250/d, even if the level might have been influenced by positional needs.

 

Banchero Costa and Co Spa 

Email: research@bancosta.it 

Internet: www.bancosta.it


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