Chartering - Handy
We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available tonnage for prompter dates causing the market to increase. Especially out of the USG we see more grain and coal cargoes destined for both Europe and the Feast. The TA’s are up abt Usd 1,300 w-o-w and a Smax can now achieve around USD 11,500 for a round voyage. In the Feast we also see the same firming tendency with more cargo in the market. SE Asia rounds are paying ard USD 10,000 where China positions can fix at ard USD 11,000 for trips direction India. The period market is also back in play and Supras are getting fixed in region of 10k for short period while the bigger Ultramaxes are being fixed at ard 11500-12k depending on delivery.
Chartering - Panamax
Steady activity in Atlantic this week, more coal orders for December and also Fronthaul biz from Brasil and Usg to far east. Despite we see more cargoes it has limited impact on rates. Rumours of delays in some ports and the fact that we are in the end of November with wind, weather and charterers normally pushing more orders in the market to empty their stocks. Expectation' s for a strong end of year rush, disappear day by day. We seen some 2 laden Atl with redel US gulf at healty USD 16,000. While strait fronthaul now arnd same USD 16,000 to 16.500 per day. Pacific rounds around USD 10.000 and nopac for beg jan fixed at USD 8500/9000. We still hope for a December rush before activity slow down, but number of ships open for orders makes us uncertain to which extent so will happen.
Chartering - Capesize
The Transatlantic market looked like the only market that would hold, due to a tight tonnage supply, but has now started to fall from a high of about USD 30,000 down to low USD 20,000’s daily. The West Australian market has been relatively active with a mix of Miner activity and operator relets, but the resistance from the owner’s side has been week and rates have drifted. The same can be said for the Brazil to China trade which has fallen into the upper teens, last report was USD 18.50 per mt down from usd 20.50’ish. Paper has followed suite and the period numbers attainable for a one year deal have fallen to +/- usd 15000 daily which is proving to be hard to swallow for owners and thus index linked deals have been the solution. It can be noted that even with the downward trend there is still volatility in the market.