The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 1-5 March 2021, to provide information of the tanker and bulk market performance. 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
- In the Middle East region, 280,000mt to US Gulf via the Cape/Cape routing continues to be assessed at WS18-18.5 level, while rates for 270,000mt to China eased 1.5 points to WS30 (a TCE of minus $3,300/day).
- In the Atlantic, 260,000mt West Africa to China saw rates maintain WS34.5 (a TCE of about $2,100/day) and 270,000mt from US Gulf to China saw rates dip about $10k to $4.12m, giving a TCE of about $4,500/day on a round trip basis.
-Suezmax
- Rates for Black Sea/Med have remained at around WS75 level ($7,600/day TCE) while the 130,000mt Nigeria/UK-Continent market managed a five point gain to WS60 ($6,400/day TCE).
- Basrah to Mediterranean for 140,000mt remains around WS18-18.5 level, although a Turkish Owned vessel fixed a Turkish refiner for Basrah/Turkey at WS15, and Exxon were reported to have taken a Delta ship at WS18.5 for European discharge options.
-Aframax
- In the Mediterranean, rates fell nearly 30 points to low WS100s for 80,000mt Ceyhan/Lavera (basis a round voyage, showing about $9,500/day TCE).
- A less dramatic situation was seen for Cross-North Sea where rates remained flat at WS95 for 80,000mt, while 100,000mt Baltic to UK-Continent regained about seven points to WS87.5/88.5 level.
- On the other side of the Atlantic, rates came under pressure and ultimately Owners saw reductions.
- The 70,000mt Caribbean/US Gulf market slipped six points to WS142.5/145 level (a TCE of about $20,000/day round trip). Meanwhile for US Gulf to UK-Continent rates saw a steeper fall of 14 points to WS107.5-110 level.
-Clean
- For MRs on AG/East Africa it was a more volatile week with rates starting at WS160, before dipping down to mid WS155s and then subsequently recovering to sit now at WS162.5 level.
- For the Cont/USAC market trade, it has been an uninspiring week. The big drop of 15 points at the end of last week has seen rates remain stagnant, hovering between WS112.5/115 region.
- Levels have not been helped by the weak backhaul market where rates for 38,000mt from US Gulf to UK-Continent are flat at WS60.
- Continent to West Africa rates followed the pattern of the trans-Atlantic market, hovering all week in the low to mid WS120s.
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Bulk carriers
-Capesize
- The West Australia to China C5 gained a strong $0.609 to publish at $8.959, while the timecharter trans-Pacific C10 route lifted $2,200 to $18,992 giving the basin a $3,777 premium over the trans-Atlantic C8 route which published at $15,215.
- The north Atlantic remains relatively quiet yet steady with rates in the $15,000 level seemingly poised and awaiting market direction.
- The Brazil market was highly active all week and surprisingly lifted strongly in the face of a solid ballaster fleet.
-Panamax
- In the Atlantic, it was a less than clear picture in the North with reduced mineral activity and rates for trans-Atlantic rounds being concluded around the $17,000/18,000 mark with options a key for some charterers.
- Conversely, EC South America found support from the derivative market with $22,500 concluded on an 82,000dwt delivery WC India, however rates were slowly levelling off as the week came to a close.
- In Asia, buoyed somewhat by the pick-up in South America, rates for Indonesian coal trips to China improved from around $18,000 level to closer to $21,000 levels by Friday.
-Ultramax/Supramax
- A 57,000-dwt fixing a quick trip from US Gulf to Spain in the mid $30,000s.
- From Asia, a 63,000-dwt open Beihai was fixed for a trip via Indonesia redelivery China at $21,750.
- Pacific rounds improved, a 63,300-dwt open Hong Kong was fixed for a trip via Australia redelivery Singapore-Japan at $23,000.
- Again stronger levels from the Indian Ocean, where a 56,000-dwt fixing from South Africa to the Arabian Gulf-west coast India at $15,000 plus $500,000 ballast bonus, there was also a 58,000-dwt which fixed from South Africa to China in the high $16,000s plus high $600,000s ballast bonus.
-Handysize
- A 38,000-dwt open Japan was fixed for four to six months at $18,000 and a 33,000-dwt delivery Chittagong was fixed for seven to nine months at $16,500.
- In the Atlantic, a 34,000-dwt open in the Black Sea was failed on subjects at $20,000 for a trip to the US Gulf and was later fixed again for the same direction in the low/mid $19,000s.
- A 38,000-dwt delivery Japan was fixed for a trip via CIS to Vietnam at $20,000 and a similar large-sized open west Australia was said to have fixed for a trip back to the Pacific at $24,000.
