Baltic Exchange: Maritime market highlights 7-11 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 had a more positive week with gains being made across all routes. For 270,000mt AG/China rates rose seven points to WS32, while 280,000mt to USG via the cape/cape routing is assessed two points up at just shy of WS20.
  • In the Atlantic region, 260,000mt West Africa to China voyages saw rates climb 10 points to WS38.5 and rates for 270,000mt US Gulf/China recovered $250k to $4.7m level.


  • Rates for 135,000mt Black Sea/Med eased a further two points this week to WS47.5, while 130,000mt West Africa/UKContinent gained five points to WS38.
  • The 140,000mt Middle East Gulf to Med market remained static at about WS16.5-17 level.


  • In the Mediterranean market, the 80,000mt Ceyhan/Med trade saw rates hover around last week’s level of WS60.
  • In Northern Europe, rates for 80,000mt Cross-North Sea fell 2.5 points again to WS75 while the 100,000mt Baltic/UKC market lost a handful of points to W42.5/45 region.


  • Owners in the Middle East Gulf have been facing constant downward pressure in the 75,000mt to Japan trade and rates eased from high WS80s to WS82.5 – which was admittedly done on 2004 built tonnage – but there has been no respite for owners here.
  • In the 55,000mt trade the market, rates have been steady in the mid WS70s.

Bulk carriers – Capesize

  • The week’s movement saw Brazil C3 levels shed approximately 90 cents to find a new floor at $15.605, while the Brazil to China timecharter level slid down to $15,227.
  • The North Atlantic market barely got started this week. Rates in the region slid on weak sentiment and lack of cargo.


  • In Asia, Post Panamax tonnage for Pacific round trips were able to achieve rates well into the $14,000’s during the early part of the week.
  • Black sea front haul trips were probably the main exception, with rates hovering steadily around the $22/23,000 mark for 82,000-dwt tonnage.
  • Meanwhile, figures in the region of $20,000 were concluded a couple of times for US Gulf trips to the east delivery Cont/Med area for same spec tonnage.


  • From the Mediterranean, a 63,500-dwt was fixed delivery Turkey for a trip to South Korea at $23,500.
  • East coast south America limited activity, but a 61,200-dwt fixed a trip delivery Recalada redelivery Iraq at around $14,750 plus $4750,000 ballast bonus.


  • The US Gulf and east coast South America were not particularly active or firm throughout the week. Meanwhile, brokers suggested a ray of hope for vessels opening in the Pacific with sentiment firming up slightly.
  • A 32,000-dwt delivery Diliskelesi was fixed for a trip to the US Gulf with steels in the high $9,000s. A 37,000-dwt was fixed for a short trip from Southwest Pass to east coast Mexico at $12,000.

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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