Baltic Exchange: Maritime market highlights 14-18 Sept

The information is used by shipbrokers, owners & operators, traders, financiers and charterers as a reliable and independent view of the dry and tanker markets.

Tankers -VLCC

  • The Middle East market has seen rates drop two to three points as 270,000mt AG/China is now W35, while 280,000mt to USG via the cape/cape routing is assessed at a shade under WS19.
  • In the Atlantic region 260,000mt West Africa to China voyages saw rates dip to WS38.


  • For the 130,000mt West Africa/UKContinent market shifted 2.5 points down at WS35, as a major oil company had an owner of a 16-year-old vessel agree to this level and the position list remaining over-populated.
  • Rates for 135,000mt Black Sea/Med again saw a very slight weakening of about a point to WS46.5.


  • In the Mediterranean market, the 80,000mt Ceyhan/Med trade saw rates pushed down 2.5 points to WS57.5.
  • In Northern Europe, the market for 80,000mt Cross-North Sea had a weaker feel to it with rates assessed between WS72.5-75, marginally down from last week.


  • In the 75,000mt Middle East Gulf/Japan trade, rates are down around five points, sitting now close to WS70. While in the LR1 trade, the market for 55,000mt to Japan has fallen 7.5 points to WS65.
  • The 30,000mt clean cross-Med trade has come under relentless downward pressure and is now in the very low WS130s, representing a drop of just over 20 points.

Bulk carriers – Capesize

  • The Capesize 5TC opened the week at $15,248 to close at $15,761.
  • The Brazil to China C3 fed off the early positive sentiment to be very active this week fixing tonnage for laycans throughout October. The route closed with a week on week increase of 69 cents to settle at $16.295.
  • West Australia to China C5 settled Friday at $7.082.


  • It proved to be a flat week in the Panamax market with the Panamax 5TC average gaining $87 to end the week at $11,835.
  • In the Atlantic and North Sea region there appeared to be a mid-week clear out of spot positions leading to a small rise in sentiment as some of the Baltic round trips found an improved level with $10,500 getting achieved on an 81,000-dwt.


  • The Atlantic was rather lacklustre, with some areas seeing stronger demand such as the Continent, where a 55,000-dwt fixed at $16,500 delivery Continent via Baltic to the east Mediterranean.
  • In Asia, there was an increase in demand for Indonesia/India coal, where a 60,000-dwt open Manila fixed in the mid $12,000’s via Indonesia redelivery west coast India.
  • A 53,000-dwt open Hong Kong was fixed for two laden legs redelivery Singapore-Japan at $11,000.


  • A 32,000-dwt was fixed from the US Gulf for a transatlantic trip at $10,000.
  • A 35,000-dwt fixed delivery east coast South America for a trip to Norway in the $13,000/$14,000 region.
  • In the Pacific, a 1994 built 43,000-dwt was fixed basis passing Busan for a trip via Vanino to South Korea at $7,750.

The full reports are available on Baltic Exchange’s website, under related category. Namely, the Baltic Exchange information is based on assessments made by a global panel of shipbrokers, covering voyage and timecharter rates for capesize, panamax, supramax and handysize bulk carriers; VLCC, aframax & MR tankers, LPG and LNG vessels as well as  forward assessments, vessel values, market reports & fixtures and demolition values.

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