Chartering - Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in excess of USD 14,000 for a trip to Cont/Med. The TAs are now hovering around USD 10,000. Also in the Feast we see a firmer market in which specifically being helped by the increased activity out of Indonesia. Indo rounds are being fixed in region of USD 10,000 whereas vsls open Singapore can achieve USD 10-11k for trips direction India. The period market is regaining activity and several short period fixtures has been concluded in region of Usd 10k bss SE Asia delivery and Usd 9k for PG delivery.
Chartering - Panamax
After the strong momentum disappeared a couple of weeks ago the market has been slower and sliding down lately. However the market seem to have found some support around todays levels and the ship/cargo ratio is rather balanced in both hemispheres. The grains keeps on coming out of the USG and this ensures that the fronthaul market stays at a steady level around USD 15K+500K. For normal Trans-Atlantic rounds owners can get around USD 8500-9500 per day while the Pacific market seems to have found some support around USD 9,000 per day. The Pacific is affected by India’s very busy coal import program. We see several ships being fixed for this business every day and this has led to a quite substantial congestion in Indian ports. We can count at least 100 panamaxes being tied up there and we expect this number to increase. The period market has come down a tick as well, we now see short periods being fixed around USD 9000.
Chartering - Capesize
A bumpy ride and mixed signals. Atlantic, although at modest volumes, presently leading the way with inter-atlantic rounds done at as much as usd 30k+. Fronthaul levels see substantial daily volatility as supply/demand balancing on a knife's edge, however the China-Brazil-China route comes in virtually unchanged at usd 20-20500 w-o-w for 180000-tonners. Market sceptism is again clearly reflected in moderate paper values for 2015, not supporting period activity at fixed levels unless some 30% discount is given to present average spot levels of almost USD 23k. To the extent period business is concluded, same is linked to index - last exemplified by 179000-tonner built 2009 reportedly done for 2 years at BCI180AVE4TC+abt 9%.
A bumpy ride and mixed signals. Atlantic, although at modest volumes, presently leading the way with inter-atlantic rounds done at as much as usd 30k+. Fronthaul levels see substantial daily volatility as supply/demand balancing on a knife's edge, however the China-Brazil-China route comes in virtually unchanged at usd 20-20500 w-o-w for 180000-tonners. Market sceptism is again clearly reflected in moderate paper values for 2015, not supporting period activity at fixed levels unless some 30% discount is given to present average spot levels of almost USD 23k. To the extent period business is concluded, same is linked to index - last exemplified by 179000-tonner built 2009 reportedly done for 2 years at BCI180AVE4TC+abt 9%.