May 27, 2019 – May 31, 2019 Weekly market report.. Banchero Costa

martedì, 04 giugno 2019 15:10:05 (GMT+3)   |   Brescia
       

Capesize (Atlantic and Pacific)

Capesize market kept on recovering last week. Although it was not a very active week, a part from the standard West Australia/Qingdao route, the TC average went up ending the week at $12,900/d level, gaining basically around $700/d w-o-w.  In the Pacific, the above mentioned West Australia/Qingdao reached mid $7/mt on Wednesday but closed the week a bit lower at $7.20/mt. The Tubarao/Qingdao followed the same trend, reaching $16.50/mt in the middle of the week, but losing a bit on Thursday before closing on Friday at $16.15/mt.  Front haul was traded at around $27,000/d tce basis Colombia to India; back haul reached again a positive level closing the week at $500/d.  On period, some trades at around mid/high $15,000/d for short period basis standard Capesize open China early/mid-June.

Panamax (Atlantic and Pacific)

ECSAm market saw Kamsarmax still achieving levels around $16,000/d + $600,000 bb for trips via ECSAm to FEast, while an 82k dwt was also reported fixed bss Karaikal for similar trip at 15,250 bss dop. Basis India dely an 82k dwt was reported fixed at $14,000/d bss Mangalore for trip via SAfrica to India. Panamax were also reported at $11,200/d basis Huangpu and $12,250/d basis Spore for trips via ECSAm to Feast, while for trip to Cont basis ECSAm dely a similar size vessel was fixed in the $17,000’s/d for trip redely Skaw-Gib. Basis Cont dely a 76k dwt was reported fixed for quick trip at $10,000/d basis Hamburg delivery via Baltic to Cont, while for trip via Cont to Feast levels on similar size were around $19,000/d bss Cont dely. In F.East, an 82k dwt was reported fixed at $13,000/d for quick Indo round basis Philippines dely, while for trip via Gladstone to ECI an 82k was fixed basis Japan at $10,800/d. Nopac rounds were reported fixed on a 75k dwt at $11,000/d basis dely CJK, while an 82k dwt was reported committed basis Japan dely at $12,000/d for similar trip. On the period front, a similar size vessel was fixed at $11,950/d basis dely SChina with optional year at $12,950/d redely WW. Short period was fixed on an 82k dwt basis dely Machong for 4/6 months at $12,000/d redely WW.

Handy (Far East/Pacific)

Rates for the larger size kept facing a negative trend on all the spot employments, with Supra/Ultramaxes having to face around $1k/d lower tc levels. Two vessels were fixed to move slag cargo from Japan to the MEG, a 55.7k dwt Dolphin type and a 50k dwt size, both done at $6.85k/d with dely CJK, while another Dolphin was fixed at $9.1k/d dely aps Vietnam for a trip with clinkers to Bangladesh. On the pacific round a 53k dwt delivering at SKorea got $7.25k/d via NPacific to Indonesia and a 63k dwt delivered at Taiwan was fixed at $8.75k/d for a trip via Australia to China. InterSEAsia trading was as well not so active; an Ultra carrying a coal cargo from Indonesia to SEAsia was done at $7.5k/d with dely CJK and another one with a closer dely at HK got $8.5k/d via Indonesia to Vietnam. For the Indonesian coal shipments, a Dolphin type with same redely, a 63k dwt size was fixed at mid $9k’s/d dely Philippines and a Tess58 delivering and loading at Philippines got $10,750/d to full China. Nickel ore shipments from Philippines to China were booked on Dolphin types at $7.75/8k/d levels with dely at SChina. No fixtures were reported for smaller sizes, which kept running on levels very similar to previous week.

Handy (North Europe/Mediterranean)

Cont market was stable for both Handies and Supramaxes. On the Handies, according to rumors one coal stem out of the Baltic to Cont achieved around $11/mt bss 35k mt (10 pct), equivalent of a rate between 7/8k/d on nice 38k dwt bss dely passing Skaw. On trips to EMed, a 34k dwt was done at around $7.5k/d for around 30 days with scrap. On the Supra/Ultramax side, one charterer was apparently ready to pay around $14k/d for a nice 56k dwt basis dely Cont and redely WCI with scrap. Not much was heard on Ultramax, a part from a 63k dwt spot which rating $13k/d for interCont rv with coal, against charterers ideas at around $10/11k/d for same. In Med, Black Sea/Emed market seemed a bit stronger. Handies were fixed in the $6.5/7k/d from Canakkale for quick interMed biz, while some Supramax owners claimed to have seen $8.5k/d for trips BLSea/WMed and up to $16k/d for trip to ECI/FEast. On period, a 38k dwt was fixed for 1year redely WW at $9k/d dop EMed, while smaller Handies were asking in the $8/8.5k/d for 3/5 months.

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

Supramax sentiment has definitely risen. Rates on Supramaxes for USG/Cont-Med stayed in the $13/14k’s/d, while Ultramaxes were getting in the low $20k's/d for clean cargoes to East and in the very high teens for TA rv. Handysize were still slow but at least gaining few ''cents'' on tc rates: USG to Med on 32/35k dwt was around $6.5/7k/d and in the $8.5/9k/d on larger 37/39k dwt. The ECSAm market, after the positive trend of recent weeks, has finally stabilized with pretty good levels compared to this year so far. Handies for TA were getting around $10.5/11k/d and $15/15.5k/d for fronthauls, while coastal trips within Brazil were done at $10k/d level. Supras and Ultras were fixing trip via ECSAm to Cont/Med still around $15k/d and $17k/d respectively, while for trips East, Supras were running at $13.5k/d + $350k bb and Ultras stopped a bit to $14.5k/d + $450k/d.

Handy (Indian Ocean/South Africa)

Last week was a mixed bag of both strong and low numbers, with a general trend heading downwards. From WCI a 53k dwt was fixed at mid $8k/d levels for trip via MEG to ECI. A 56k dwt fixed/failed at $9.5k/d levels a similar trip and towards end-week charterers were boldly talking $7k/d dop levels for such biz for spot/prompt vessel – or alternatively aps Mina Saqr under $10,000/d levels. Always a 56k dwt was heard fixed on a trip via Salalah to WCI at excess of $10k/d bss aps salalah and from WCI at around $9k/d dop levels towards RSea. Rates from SAfrica showed a downwards trend over the week and to hold on steady by Friday. Supras were going around $12.25/12.5k/d aps + $225/250k bb for trip via SAfr/EAfr to Feast. SAfrican coal to India-MEG remained more or less steady through the week with Supras being quoted slightly over $12k/d + $200k bb.

Banchero Costa and Co Spa

Email: research@bancosta.it
Internet: www.bancosta.it


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