Baltic Exchange: Maritime market highlights 23-28 Oct

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



  • Another difficult week for owners saw rates fail to gain any traction.
  • There was talk midweek of 280,000mt fixed west at WS17.5, but thereafter the market Middle East Gulf to US Gulf via the Cape/Cape routing softened and is now assessed at a shade above WS15.


  • Rates for 135,000mt Black Sea/Med have generally been hovering between WS45/47.5 level while levels for 130,000mt from Nigeria to UK-Continent have been flat at between the WS30 and WS32.5 mark.
  • In the Middle East market rates for 140,000mt Basrah/Med nudged up with Turkish charterers agreeing WS20. However, this subsequently failed with own tonnage reprogrammed and the market is now assessed at just above WS18, and seemingly still under downward pressure.


  • The start of the week saw a number of prompt liftings from Libya, with a high of WS97.5. Other vessels were also taken in mid/high WS80s.
  • However, the excitement was short lived with last seen from Libya being concluded at WS72.5.
  • In Northern Europe rates remained flat with 80,000mt Cross-North Sea in the WS72.5-75 region, although WS82.5 was paid by Chevron, albeit for loading from the expensive port of Sullom Voe.


  • It has been another unproductive week for owners.
  • In the 75,000mt Middle East Gulf/Japan trade, rates have stagnated in the very high WS50s.
  • The start of the week saw rates in the cross-Med trade nudge up to WS80 before easing back modestly to around the WS77.25 level.




  • The Capesize market was grasping for a bullish story this week as a possible mid-week rally fell flat.
  • Following that, rates collapsed down to $15,550 on the Capesize 5TC, a drop of $3,199 for the week.
  • The close of the week was timid with little activity. Several small sparks of resistance by owners were heard which may place some support under this current level as thoughts of an imminent rally do not seem on the cards.


  • The market in the Atlantic seems to have been driven by the need for tonnage to load in the Baltic for various destinations.
  • With the shorter voyages commanding a premium, it gave a lift for the longer trans-Atlantic and front haul trips.


  • A rather subdued week overall with rates in the Atlantic generally on a negative slide.
  • However,  the US Gulf remained steady with a 58,000-dwt fixing an inter Caribbean trip redelivery east coast Mexico in the mid $12,000s.
  • There was limited activity from east coast south America with the Ultramax size seeing in the low-mid teens for transatlantic runs.
  • From Asia, it was a mixed bag.


  • Overall it was a lacklustre week with the Atlantic market being slightly quieter than usual.
  • There appeared to be a thin volume of fixing despite brokers suggesting the Continent region is remaining firm.
  • Meanwhile, east coast South America remained flat throughout the week whilst the US Gulf market declined further.

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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