Baltic Exchange: Maritime market highlights 31 Aug- 4 Sept


Tankers -VLCC

  • 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.

Suezmax

  • 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.

Aframax

  • 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.

Clean

  • 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.

Panamax

  • 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.

Ultramax/Supramax

  • 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.

Handysize

  • 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.



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