- The Middle East market again eased slightly with rates for 270,000mt AG/China falling 4.5 points to WS25, while for 280,000mt to USG via the cape/cape routing rates are assessed 1.5 points lower at WS18 level.
- In the Atlantic, another quiet week and downward pressure saw rates for 260,000mt West Africa to China fall three points to just below WS30.
- Rates for 135,000mt Black Sea/Med saw rates ease four points to WS50, while the market for 130,000mt West Africa/UKContinent stumbled seven points downward to the WS36/37 region.
- The 140,000mt Middle East Gulf to Med market weakened three points to WS16.5 level.
- In the Mediterranean market, the 80,000mt Ceyhan/Med trade saw owners able to claw back four points to WS60 level.
- In Northern Europe, rates for 80,000mt Cross-North Sea fell 2.5 points to WS77.5 while the 100,000mt Baltic/UKC market shed four points to WS50.
- Across the Atlantic the market found a new bottom with rates for both 70,000mt Carib/USGulf and USGulf/UKC falling five to six points to WS57.5.
- In the backhaul business for 38,000mt USGulf/UKC, the negative trend continued with the market losing another 22.5 points to sit now at around WS67.5
- Brazil discharge rates followed suit losing over 20 points to very low WS100s.
- The 30,000mt clean cross-Med trade continued its revival gaining over 32.5 points to be assessed now in the high WS120s.
Bulk carriers – Capesize
- The Capesize market suffered a technical correction this week, with the timecharter average shedding $1792 to close at $16,252.
- The North Atlantic, meanwhile, remained short of enquiry, with Glencore covering a 170,000mt Seven Islands fronthaul lifting at a weaker $20.95, whilst a lone Transatlantic round was fixed at $10.50.
- In the Atlantic, activity from EC South America and the US Gulf was confined to a limited number of fixtures with owners’ resolve tested to the maximum.
- In Asia, aside from a flurry of fixing midweek ex NoPac, generally at around the $13,500 mark, there appeared little substantial volume elsewhere from the usual loading regions.
- Rates subsequently eased and the market here is in need of a fresh injection in order to avoid further erosion. Period activity included $13,400 being agreed on an 82,000dwt for seven/nine months employment.
- A level week for BSI with mixed signals from both basins. Period activity was limited but a 55,000-dwt open CJK was fixed for four to six months trading at $10,500.
- There was a 63,300-dwt fixed delivery Canakkale for a trip via Black Sea redelivery south east Asia at $24,500.
- East coast South America remained level with Ultramax size seeing around $15,000 plus $500,000 ballast bonus for trips to the Far East.
- A 28,000-dwt open Casablanca was fixed for a trip via the Continent to Durban at $10,300. There was talk of east coast South America coastal runs fixing at $10,000s to $11,000s level on mid-sized Handysize.
- In the Pacific, a 38,000-dwt open Manila was fixed for a trip to south China at a rate in the high $7,000s. A 45,000-dwt open CJK was fixed for a trip via Indonesia to China at high $8,000s.
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.