Chartering - Handy
Rates coming off from last week. USG to east med for handy paying USD 25. Modern 35k vessel getting low USD 14k for Recalada to North Spain. Short periods del US Atlantic redel ww paying low 9 k. Fertilizer from Baltic to Brasil fixed at sub USD 20 for 46.00 10pct stem. Ramadan ended with less fresh cargoes than expected. Ultramaxes getting like 10k+ for Indonesia/Eci rounds. Nopac round to Indonesia for Supra concluded at 8k + bb. North China vessels being fixed in the high 5/low 6k levels for backhaul trips.
Chartering - Panamax
After last weeks positive developments ended subdued, this week started in an unclear direction with paper trading up while physical was inactive. Further in the week tonnage list grew longer in the east overweighing demand and seeing rates slip with pac rounds being concluded around 7k. Eco kamsarmaxes getting high 8 k for Nopac. Front-haul has been thin with what little done at levels below last. Grain still the driver. Also Atlantic have seen less activity and lower rates, owners ask 11k while TA being concluded at closer to 10k level. The few active takers for period are holding back and not rating expecting rates to slip further. Short term we expect market will drop further before a new floor established.
Chartering - Capesize
The Capesize market firmed up this week, driven mainly by strong front-haul market and firm pacific fixtures. West Australian market moved up slightly with fixtures concluded at $6.15 on Monday and jumped up to $6.30 on Tuesday. Wednesday saw an overall positive Australian market with prompt fixtures heard done close to mid-$6. The front-haul TCT market for Brazil/China r/v moved from USD 14,000 level on Monday to USD 16,500 Tuesday and the voyage rate Tubarao to Qingdao peaked in excess of $16.00. Front-haul market on Wednesday continued its firm stance. Few TA fixtures were concluded this week but this does not seem to affect the positive outlook on front-haul.
The Capesize market firmed up this week, driven mainly by strong front-haul market and firm pacific fixtures. West Australian market moved up slightly with fixtures concluded at $6.15 on Monday and jumped up to $6.30 on Tuesday. Wednesday saw an overall positive Australian market with prompt fixtures heard done close to mid-$6. The front-haul TCT market for Brazil/China r/v moved from USD 14,000 level on Monday to USD 16,500 Tuesday and the voyage rate Tubarao to Qingdao peaked in excess of $16.00. Front-haul market on Wednesday continued its firm stance. Few TA fixtures were concluded this week but this does not seem to affect the positive outlook on front-haul.