Baltic Exchange: Maritime market highlights 2-6 Nov

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



  • In the Middle East, 280,000mt to USG via the Cape/Cape routing remained at a fraction above WS15, while 270,000mt to China continued to achieve WS26.
  • In the Atlantic, rates for 260,000mt West Africa to China held around the WS29 level and $4.55m region for 270,000mt USG to China.
  • Rates for 135,000mt Black Sea/Med were maintained at around WS45, while for 130,000mt Nigeria to UK Continent saw a modest two-point gain to between WS32.5 and WS35.
  • In the Middle East market, rates for 140,000mt Basrah/Med improved by about four points to around WS20-22.5 level, with Turkish and Greek charterers fixing at WS20 and a US oil major reported to be replacing a failed WS20 fixture at WS22.5 on an ex drydock vessel.


  • Rates for 80,000mt Ceyhan/Lavera fell back about three points to just over WS61.
  • In Northern Europe rates weakened a couple of points to between WS67.5-70, while 100,000mt Baltic/UKC remained close to WS42.


  • In the Middle East Gulf/Japan trade, rates for 75,000mt are static at WS57.5 level, while the LR1 market regained four points to the WS65 mark.
  • In the 37,000mt UKContinent/USAC market rates continued to slide, settling at around WS67, down around five points from a week ago.



  • The Capesize market continued to decline this week.
  • The end of the week brought about a small uptick of +244 to settle the Capesize 5TC at $14,421, possibly placing a support level, although others would suggest it will allow for a breather before further declines.


  • Rates in the Panamax market this week slowly ebbed away, except for a couple of hot spots – the Baltic mineral stems and NoPac demand.
  • In Asia, the market was described as mainly NoPac centric, with $11,000 delivery China and $9,750 delivery S Korea agreed on Kamsarmax tonnage for round trips.


  • A 61,000-dwt open China early November was fixed for three to five months trading at around $9,500.
  • From the Atlantic, activity remained subdued from east coast South America.
  • However, a 61,500-dwt was rumoured fixed for a fronthaul in the upper $13,000s plus upper $300,000s ballast bonus.


  • A 33,000-dwt delivery Derince was reportedly fixed for a trip to Southeast Asia with sodash at $15,700.
  • Meanwhile, a 37,000-dwt delivery Canakkale was fixed for a trip to the UK/Continent at $11,500.
  • A small overaged handysize vessel was fixed from Beira for a trip to the Med at $5,000.

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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