Capesize (Atlantic and Pacific)
A very positive week of increasing rates: the Capesize 5TC average gained more than $3,000/d closing over $23,800/d on Friday. Due to a lack of ballasters and more activity Tubarao-Qingdao route recorded a huge improvement gaining almost $2/mt closing on Friday at $22.40/mt basis mid-December dates. W Australia-Qingdao was more volatile with rates reaching high $9s/mt by midweek and then slightly softening and peaking again on Friday in the very high $9s/mt for mid-December dates. Also the Atlantic had a positive week with some fresh fronthaul cargoes fixed in the very low $40,000s/d and Bolivar-Rotterdam fixed at over $10/mt. Not much activity reported on periods: a standard Capesize was rumoured for around 1 year at low $22,000s/d basis dely UKC/Passero range and Pacific vessels were traded in the mid-teens for short period.
Panamax (Atlantic and Pacific)
Finally rates inverted their trend and started increasing again, especially in N Atlantic where the list of prompt vessels quickly became shorter allowing stronger rates both for longer trips via USG or US EC and for CrossBaltic trips. Also from ECSAm rates increased a little on the back of a shorter tonnage list; units for first half January dates obtained a small premium. The market in Pacific benefitted the positive trend and rates were again above the $10,000s/d mark thanks to good demand coming from Australia. Period activity resumed and charterers were again chasing fresh tonnage.
Handy (Far East/Pacific)
After a long decline rates bottomed and Supramax/Ultramax increased by $1,000/d; Handysize remained unchanged. A modern Ultramax with dely Vietnam fixed at $9,500/d for a trip to Thailand and a 57,000 dwt with same dely was rumored at $8,500/d fir a trip to CJK with clinker. A 58,000 dwt with dely Indonesia agreed $11,000/d for a trip to Thailand and an Handymax with dely Gresik achieved $11,00/d to CJK. Two 56,000 dwt units were reported for trips via Indonesia to China with nickel ore: one with dely S China got $11,000/d, and the other with dely Spore achieved $11,750/d. An Ultramax 61,000 dwt with dely CJK was reported at $9,250/d for a trip via Indo to India. No fixtures officially reported for Handysize, but 38,000 dwt units should fix around $7/8,000/day.
Handy (North Europe/Mediterranean)
In Cont rates were stable. A modern 38,000 dwt was fixed at $12,000/d basis dely Ireland via Baltic to Cont with coal which is basically unchanged compared to the rates agreed the previous week. On Supramax, a 57,000 dwt Dolphin-type agreed $15,000/d basis dely Liverpool to E Med with scrap (around 30 days duration). Not many fixtures reported for larger units in Med/BSea whilst Handysize were a bit busier, but at fluctuating rates which makes the trend somehow difficult to read. A 32,000 dwt was fixed basis dely Canakkale for a trip via BSea to Marmara at $10,100/d while a 28,500 dwt rumored with same dely via BSea to Adriatic, redely passing Otranto at $8,400/d. Another 28,000 dwt was fixed for a trip with steels basis dely Canakkale via BSea and redely E Med at $8,200/d and finally on Friday a 32,000 dwt got $7500/d via Tuapse to E Med.
Handy (USA/N.Atlantic/Lakes/S.America)
In USG the Supramax market remained at good levels for December dates mostly due to a fairly short tonnage list, the coming week might show a more balanced market. Supramax were fixing around $14,000s/d for Atlantic TCT and Ultramax around $17,000/d while fronthaul to Spore/Jpn was paying $19/20,000/d on Supramax and mid/high $20,000s/d on Ultramax. Handysize rates, in contradiction with some indexes showed a good number of units running spot without fixing and rates did not increase much. From ECSAm Handysize showed some small increase whilst for larger units the market remained weak and flat. A lack of activity affects rates, but also the number of units ballasting there decreased. Handysize 38,000 dwt were getting $11,000/d for trips to Skaw/Passero, compared to $10/10,500/d the previous week and fronthaul gained $1,000/d to $14,000/d. Tess58 were getting $13,000/d + 300,000 bb on fronthaul and Ultramax around $13,500 + 350,000 bb. Trip to Cont/Med were still around $12/12,500/d on Supramax and $13,000/d for Ultramax, in line with previous values.
Handy (Indian Ocean/South Africa)
Regular MEG-India trades on Supramax were discussed around $12,000/d basis dely aps loadport for India/Bangladesh range. For ECI redely owners were still discounting to $10/10,500/d basis dely aps UAE. A 63,000 dwt was fixed to China at mid $12,000s/d basis dely Fujairah. From ECI 53/56,000 dwt units were rumored around $7/7,500/d basis dely dop to China with iron ore, afterwards a 56,000 dwt eco type was done at high $8,000/d basis dely aps loadport. From SAfr a Supramax was reported around $10,500/d + 150,000 bb to MEG/WCI.
Banchero Costa and Co Spa
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