Chartering - Handy
Despite the overall weak sentiment, there is a scent of optimism in the Atlantic market for ppt (prompt) dates. Continent is still struggling with oversupply and levels sliding in the MID $7.000 range for trips out or to the Med. Rates have also been under pressure from USG, where Fronthaul may pay about $11.500 and trips to Med just short of 10 K. ECSA activity is there but levels are moving sideways along 8.500-9.000 to Med and around $9.500 + 95K GBB for long hauls to the East. In the Far East there is an APS market all across the block with Indo rounds to India paying $5.000 and in the weak $4.000 range to China. Ultramax levels from India to China in the MID $5.000’s. Period activity less than limited.
Chartering - Panamax
Generally weak in both hemispheres, lack of new business and cargoes being fixed at low levels. Atlantic struggle to absorb all the prompt tonnage and rates slipping. Atlantic rounds paying around 3-4k. Pacific market even weaker and pending around 2.5-3k. Many owners are close to idle their vessels due to the weak rates. Some Fronthaul business concluded at rates between 8.5- 9.5 k. Charterers enter the marked with COA requirements due to low rates, which maybe indicating we are close to the bottom. Period activity also limited despite some 11-14 months reported at high 7k.
Chartering - Capesize
There has been relatively healthy fixing volumes in the cape market, both in the Pacific and Atlantic fronthaul trade. The big swing factor, Vale, has been active but cleverly avoided getting the market excited. The rates across the board have improved slightly but this is only a compensation for the increased bunker costs in the recent oil rally. As we approach march there is a certain amount of period fixing and this is replacement activity for all the tonnage fixed in expensively at this time last year.
There has been relatively healthy fixing volumes in the cape market, both in the Pacific and Atlantic fronthaul trade. The big swing factor, Vale, has been active but cleverly avoided getting the market excited. The rates across the board have improved slightly but this is only a compensation for the increased bunker costs in the recent oil rally. As we approach march there is a certain amount of period fixing and this is replacement activity for all the tonnage fixed in expensively at this time last year.