Essentially a strong week for Capesizes. Activity was focussed on the Asia market initially then followed by a step up in Brazil trading. Mixed views on the north Atlantic but the bullish among the market appeared to have been proven correct with $21,000 daily reported paid to a 178,000 tonner open Rotterdam for a transatlantic round.
In the East, rates for West Australia/China cargoes were holding in the low-midish $6.00s depending on dates although there were rumours – denied – that one of the majors paid over $7.00 for a prompt ship. A 180,000 tonner fixed with a Japanese charterer for a West Australia round giving Luojing delivery at $14,500 daily. Brazil activity has been operator driven rather than from Vale and some big numbers were agreed for rounds. A 170,000 tonner 2000 built fixed from Kemen for a Brazil round at $16,800 daily and a 171,000 tonner went at $18,000 daily to Oldendorff from Singapore for a Brazil round. Voyage rates from Tubarao went over $16.00. Rates rose sharply from Saldanha to China and currently in excess of $11.00 and talk of a ship from Singapore fixing at $19,000 daily for a South Africa round.
Prompt ships saw rates fall in the East as the tonnage list lengthened and owners reluctant to ballast towards South America where charterers appeared to slowing down. This remained under question with many suggesting that there was more to come from Brazil-Argentina. Today owners with standard panamaxes would be fortunate to see rates near $6,000 daily range for the NoPac rounds. However there was some suggestion more cargo will appear next week but the added still plentiful ship supply. A kamsarmax was rumoured on subjects today for an Indonesia/south China-Hong Kong run at weaker $5,500 daily plus a $57,500 bonus.
South America rates too eased with talk of a kamsarmax now willing $9,400 daily plus a $340,000 bonus for passing the Cape of Good Hope via east coast South America to the East. Having said that a super eco kamsarmax 2015 built agreed a big $13,000 daily plus a $340,000 bonus basis the Cape of Good Hope.
Further north brokers continued to talk of tight supply of ships northwest Europe and the short rounds were so far at healthy levels with rates at leas over $12,000 daily and more depending on the ship and delivery. Rates remained debateable for the longer transatlantic round voyages and were probably near the low $10,000 daily range rather than $11,000 daily for standard panamaxes.
Another strong week with a good selection of reported fixtures. Brokers suggest the market may have topped out, but there were still a number of very respectable fixtures.
Period employment again featured with a Tess 52 fixing delivery China for three to five months at $8,000 daily. A 63,000 dwt, 58,000 dwt and a 53,000 dwt all fixed with India deliveries for short periods at $9,250, $9,000 and $7,500 respectively. Today a 57,000 dwt
Dolphin fixed for three to five months delivery South West Pass at approximately $13,500 per day.
In the smaller size range a 35,000 dwt secured $8,700 daily with delivery east coast South America for four to six months to a Danish charterer.
The supramaxes continued a healthy run with US Gulf deliveries still paying the premium rates. On Thursday a Dolphin fixed $17,000 daily to the Far East and the day before a Tess 52 going to India at $20,000 daily.
Notable was the 2015 built 60100 dwt Scarabe securing $15,000 delivery Continent to Far East via the Cape of good Hope.
For the mid sizes there were a few more fixtures emerging. A 42,000 tonner fixed from the Black Sea to Tunisia at $10,000 daily.
Two 45,000 tonners were booked for iron ore basis delivery China for West Australia round voyages at $6,500 daily.
Handysizes this week have seen a 2011 built 38,000 tonner fixing US Gulf to Black Sea at $12,250 daily. An Imabari 28,000 dwt was booked from the Baltic to east coast South America at $6,500 daily and a 32,0000 tonner concluded Santos to the Mediterranean at $14,000 daily. Information remained at a premium for the handysizes with operators largely keeping fixtures under wraps.
Hope remained that the current positive tone would last through August for both sizes.
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