Capesize market ends week on high note

Capesize

There were also notable increases in fronthaul cargoes from the North Atlantic later in the week, particularly for first half of August dates. Fixture levels increased as vessels with prompt dates were scarce in attracting interest from charterers. The C9 index climbed to finish the week at US$63 250 per day. More activity surfaced from Brazil, with fixtures concluded in the US$27 per t within the index window, which is now fully shifted to August. In the Pacific, the C5 index moved around the US$10 per t benchmark, showing US$22 455 per day for a transpacific round voyage.

Panamax

An active and busy week for the panamax market culminated in decent gains made as the Atlantic market came to the fore once again, with South America absorbing tonnage worldwide, adding support to markets. The Atlantic saw improved levels tonnage count shrank mid-week. From the South, an 82 000 DWT vessel was fixed delivery EC South America end-July for a fronthaul at US$19 250 plus US$925 000 ballast bonus, whilst an 82 000 DWT fixed delivery West Mediterranean for a transatlantic run at US$13 000. In Asia, a mixed week with the draw from EC South America owners hardened their ideas for Indonesian business, although further north, tonnage levels remained high meaning rates lacked impetus despite a healthy amount of cargo from Australia. Meanwhile, an 82 000 DWT fixing delivery North China for a trip via NoPac redelivery Japan at US$15 000. Period activity was mostly muted, although reports mentioned an 82 000 DWT delivery China fixing two years at US$18 250.

Ultramax/supramax

A week of steady improvements in the US Gulf with a lack of tonnage availability a large driving force behind the positivity, with unconfirmed rumours of an ultramax fixing trips to Singapore-Japan at around US$30 000 but further details had yet to surface. In the Mediterranean, a 57 000 DWT opening in Otranto was rumoured to have been fixed from Canakkale via Russia to China at US$24 000 but details on the routing had yet to emerge. Visible activity remained in the Asian markets with a 57 000 DWT fixing from Bayaquan via Goa to the Mediterranean-Continent with an intended cargo of steels at US$15 500 for the first 65 days and US$17 500 for the balance of the charter. A 61 000 DWT opening in CJK fixed via the east coast of Australia to the Philippines at US$16 000. The period market also remained active with a 56 000 DWT opening ex-drydock in Zhoushan fixing for a year at US$14 000 whilst a 63 000 DWT new building opening ex-yard in Japan was fixed for 12 months at US$17 900 to Japanese charterers.

Handysize

Large gains were seen in the US Gulf region this week with a 42 000 DWT fixing from SW Pass to the West Coast at a rate in the low US$20 000s, whilst a 37 000 DWT opening in East Coast Mexico was fixed basis delivery SW Pass for a trip to Morocco with an intended cargo of grains at US$17 500 to a grain house with unconfirmed rumours of another vessel fixing at closer to US$20 000. In the South Atlantic with improving levels of fresh enquiry a 38 000 DWT was linked to fixing from San Lorenzo to the Caribbean at US$21 000. Levels began to improve in the Asia markets with a 40 000 DWT rumoured to have been fixed from Australia to the Philippines at around US$20 000 and a 38 000 DWT fixed from Japan to West Coast Central -US West Coast at around US$16 000. A 28 000 DWT opening in Penang fixed a trip to China at around US$9000 but further details have yet to surface.

Read the article online at: https://www.drybulkmagazine.com/shipping/16072024/capesize-market-ends-week-on-high-note/