Shipping Report 7/1/10
CHARTERING - Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and India's thirst for Indonesian coal. For Indonesia / India coal trips Supras were fixed in the low 20's. The period market picked up activity, Supras were fixed for low/mid 20's for short period. India, the market is still firm for iron ore cargoes from WCI, Supras were trading in the mid / high 30's for trips to China. In Atlantic market the rates have been active and firm in all areas. Rising demand for vessels and paper sharpening gave boost to the rates. Owners were quite optimistic holding back the vessels hoping for even better rates.
CHARTERING - Panamax
A very firm start of the first week in the New Year, after a soft end in 2009. The BPI showing a sharp rise after the holidays. Atlantic RV seen high mid USD 30,000 and trip out about USD 45,000. There is a good demand for tonnage in the Atlantic basin and the market is pushing further as owners are holding back ships. In the Pacific the market also looks very firm and rates for a RV at USD 30,000 for LME`s. Backhaul still remaining at 17-18k levels, and some charterers are taking vessels from Pacific and ballast to USG at high 20 levels. LME`s fixed 31k usd for 5-7 months, 1 yr at USD 27000 in the Atlantic and USD 24,000 in the Pacific.
CHARTERING - Capesize
2010 starts off at a positive note, although signs of correction have become apparent midweek. Fronthaul levels rose significantly to hit USD 33 pmt Tubarao/Qingdao for February loading before again sliding downwards, whilst the WAust/Qingdao trade put on some USD 2.50 pmt to reach USD 13.50 pmt before dipping into the mid USD 12's pmt. Paper trades, however, is taking a blow and does little to support spot, neither do a handful of ballasters apt to put pressure on Brazil/China levels. Index tonnage presently trades at an average of usd 40,500/day, with 3-5 months period done on 172,000-tonner built 2001 at USD 38,000/day basis delivery China prompt.
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