Positive growth seen in Atlantic shipping

Capesize

The Atlantic exhibited restrained activity with a decline in sentiment. there was a slight increase in coal enquiry from East Coast Australia, but with a healthy tonnage list limited potential upside, maintaining a flat C5 market. Mid-week, there was a sense of stabilisation in the Pacific as fixtures were concluded at last done levels, and weather conditions in Chinese ports impacted by fog added an element of uncertainty. The Atlantic experienced increased activity, influenced by Japanese front haul tenders, while trans-Atlantic routes faced downward pressure. Towards the end of the week there was notably active day with an improvement in market sentiment, leading to rate increases on C5. The positive momentum extended to the Atlantic, driven by positional factors, resulting in a busy and positive day. As the week draws to a close the level of activity has slowed in the Pacific, nevertheless, the market has continued its upward trajectory, marked by a further 60-cent rise on C5. The Atlantic market wrapped up the week on a positive note, with prevailing bullish sentiment evident in the BCI 5TC, which recorded an increase of US$3243, culminating in a week-ending value of US$18 608.

Panamax

A week of gains for the panamax market as a build-up in activity from South Atlantic came to the fore once again, with South America absorbing tonnage demand worldwide, in turn adding support to markets elsewhere. The Atlantic was described as largely grain centric, better levels reflected on the front haul routes with several NC South America front haul deals reported basis delivery Aps load port, rates ranging from US$18 000 + US$800 000 to US$18 750 + US$875 000 ballast bonus whilst an 82 000 DWT fixed delivery West Mediterranean for a trip via NC South America redelivery China at US$24 000. In Asia, a mixed week with the draw from EC South America enticing some owners to consider the ballast option as Indonesia and Australia returned an underwhelming week. Further north, strong grain demand ex NoPac helped support rates here, with US$12 000 rumoured fixed a couple of times on BPI82 types. Period interest improved, with an 82 000 DWT delivery China agreeing around US$16 000 basis 8/10 months.

Ultramax/supramax

A mixed week for the sector. In the Atlantic downward movement was seen from the US Gulf with lower enquiry rates eased, from South America some said as the week closed there seemed to be more enquiry for February dates, which indicated a bottom may have been reached. From the Pacific, whilst in the South sentiment remained rather poor with little fresh enquiry from Indonesia, the North saw increased demand from both the NoPac and more backhaul demand saw rates stabilise. Period activity increased, a 63 000 DWT open North China fixing four to six months trading at US$14 500. In the Atlantic, a 63 000 DWT was heard to have been fixed from the US Gulf for a front haul around US$23 000. Elsewhere, a 64 000 DWT was fixed from EC South America to Spain at US$18 000. In Asia, a 56 000 DWT fixed basis delivery passing Taiwan trip via Indonesia redelivery China at US$8650. Whilst another 56 000 DWT fixed delivery Surabaya trip via Indonesia redelivery Bangladesh at US$11 000. Better levels were seen from South Africa, with a 61 000 DWT fixing delivery Port Elizabeth redelivery EC India at US$20 000 plus US$200 000 ballast bonus.

Handysize

The first glimmers of positivity were seen in the Atlantic as lists of open tonnage reduced. On the Continent there was a flurry of activity for grains ex France with a 36 000 DWT fixing from Rouen to Morocco at US$8500 one of several fixtures. In the Mediterranean, activity was more subdued, but a 34 000 DWT fixed from Alexandria via the Black Sea to Morocco at a rate of around US$9750. In the US, a 35 000 DWT fixed from Savannah to UK-Continent with wood pellets at US$19 000 whilst a 35 000 DWT fixed from Lake Charles to Turkey at US$18 000 with grains. The South Atlantic was also said to be turning with a 38 000 DWT fixing from Campana to Algeria with grains at US$15 000. Southeast Asia was also more active with a 35 000 DWT fixing from Singapore via Australia to South Korea at US$8000. Further North enquiry was said to be limited as a 32 000 DWT fixed from CJK via China to EC India at US$10 100.

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