Capesize
This week finished on a positive note with the Capesize 5TC increasing by $942, finishing the week at $27,388. The rate for C8 transatlantic round voyage, significantly increased by over $3,000 on Wednesday, reaching $29,464, driven by a swap deal involving a Drummond to Gijon cargo. 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 $63,250/day. More activity surfaced from Brazil, with fixtures concluded in the $27/tonne within the index window, which is now fully shifted to August. In the Pacific, the C5 index moved around the $10/tonne benchmark, showing $22,455/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 $19,250 plus $925,000 ballast bonus, whilst an 82,000-dwt fixed delivery West Mediterranean for a transatlantic run at $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 $15,000. Period activity was mostly muted, although reports mentioned an 82,000-dwt delivery China fixing two years at $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 $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 $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 $15,500 for the first 65 days and $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 $16,000. The period market also remained active with a 56,000-dwt opening ex-drydock in Zhoushan fixing for a year at $14,000 whilst a 63,000-dwt new building opening ex-yard in Japan was fixed for 12 months at $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 $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 $17,500 to a grain house with unconfirmed rumours of another vessel fixing at closer to $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 $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 $20,0000 and a 38,000-dwt fixed from Japan to West Coast Central -US West Coast at around $16,000. A 28,000-dwt opening in Penang fixed a trip to China at around $9,000 but further details have yet to surface.
Source: Baltic Exchange
