Baltic Exchange: Maritime market highlights 1-6 Aug

Bulk carriers

-Capesize

• The Capesize market broke out of its recent range this week as the 5TC peaked on Thursday before easing Friday slightly down at $36,150. The Pacific routes strengthened throughout the week but softened abruptly on Friday for the Transpacific C10 to be down 485 week on week to $44,928.
• The Brazil to China C14 was the main mover settling at $34,990 on Friday, still a significant discount to the Pacific. The North Atlantic region continues to be the laggard as vessel and cargo counts remain perilously low.

-Panamax

•  A 76,000-dwt was rumoured to have been placed on subjects basis delivery passing Singapore 10-11 August via the Black Sea redelivery Singapore-Japan at $31,000.
• Also a 82,0000-dwt was rumoured to have been fixed basis sailing Singapore with prompt dates for a trip via East Coast South America with redelivery Singapore-Japan range at $33,500.
• An 83,000-dwt open Rotterdam 12-16 August was rumoured to have been fixed for a trip via the Baltic with redelivery India at $55,000.
• In Asia an 82,000-dwt was fixed from China via CIS to China at $28,000.   A 76,000-dwt was reported as fixed from China via North Pacific Canada to China at $27,000.

-Ultramax/Supramax

• From the Atlantic the main thrust came from demand in the Mediterranean, a 63,000-dwt was fixed for a trip to West Africa at $48,000. Fresh enquiry was seen elsewhere.
• On the east coast south America a 61,000-dwt was fixed for a trip delivery Recalada redelivery south east Asia at $27,000 plus $1.7 million ballast bonus. Limited information from the US Gulf but a 60,200-dwt was heard fixed for a trip to Brazil at $40,000.
• From Asia, despite upcoming holidays healthy interest was seen. A 56,000-dwt open China fixing a North Pacific round voyage redelivery Singapore-Japan at $29,000. There was coal activity with a 61,000-dwt open CJK fixing via Indonesia redelivery China at $29,500. Pressure was seen from the Indian Ocean with a 63,000-dwt open Indonesia fixing a trip via South Africa redelivery far east at around $37,000.

-Handysize

• A 33,000-dwt logs fitted open in Vietnam with prompt dated was fixed for two laden legs redelivery Singapore-Japan range at $30,000.
• In the Mediterranean a 38,000-dwt was rumoured to have been fixed for a trip to East Coast South America at $36,000 which is one of the firmer regions.
• In Asia a 37,000-dwt was rumoured to have been fixed on the basis delivery China for a trip to West Africa with a intended cargo of bagged rice at $29,000 for the first 75 days and $31,000 for the balance.

Tankers

-VLCC

• Another week of rates metaphorically stuck in the mire in this sector. In the Middle East the market for 280,000mt to US Gulf (routing via the Cape/Cape) remains in the WS18-18.5 region while rates for 270,000mt to China continue to be maintained at around WS31.5 (showing a round-trip TCE of $-4,300/day).
• In the Atlantic, rates for 260,000mt West Africa to China are also stuck at the WS33 mark (a TCE of $-1,400k/day round trip) and 270,000mt US Gulf to China saw a $40,000 drop to just above $4.02m (a roundtrip TCE of $1.3k/day).

-Suezmax

• In West Africa, a more populated position list enabled charterers to push rates down 3.5 points to WS51-52 level for the 130,000mt Nigeria/UK Continent market (meaning a round-trip TCE of just below zero). Meanwhile in the Mediterranean rates for 135,000mt Black Sea/Med fell 2 points to just below WS57 (a round-trip TCE of about $-7,800/day).
• The Middle East market has continued to be relatively busy although there is still sufficient tonnage to cover this extra activity, with rates for the 140,000mt Basrah/Med trip pegged at the WS26 mark.

-Aframax

• In the Mediterranean, the market for 80,000mt Ceyhan/Lavera lost a single point this week to about WS85 (showing a round-trip TCE of $1,400/day). In Northern Europe the market modestly weakened with the rate for 80,000mt Cross-North Sea easing back 1.5 points to WS94 (a round trip TCE of $-3,900/day). It was a similar story in the 100,000mt Baltic/UK Continent market with the rate at WS61.25 (a round trip TCE of about $-930/day).
• Across the other side of the Atlantic, the market has settled and rates for 70,000mt Caribbean/US Gulf are unmoved at just above WS75 (a round-trip TCE of $-3,500k/day) while the East Coast Mexico/US Gulf market slipped 1 point to WS75 also (a TCE of about $3,300k/day round trip).
• The market for 70,000mt US Gulf/UK Continent dropped 1.25 points to WS66.25 (showing a round trip TCE of $-2,700k/day, which would be positive basis 1 way econs).

-Clean

• The Middle East Gulf has seen an upturn all around this week. On the LR2s to Japan TC1 has come up 3.33 points to WS83.33, a round-trip TCE of $3,285/day. The LR1s have shown some improved activity, TC5 55k Middle East Gulf/Japan at WS104.29 up WS16.08 points, a round-trip TCE $5,974/day.
• TC8 Middle East Gulf/UK-Continent also had continued traction up to $24.39/ton (up $3.62/ton) yielding a round-trip TCE of $5,347/day (up $4,997/day). MR rates 35k Middle East Gulf/East Africa (TC17) also continued to rally 18.5 points to WS169.5, showing a round-trip TCE of $8,376/day.
• The Mediterranean market has had another week of freight rates remaining generally sideways only with an incremental drop. On the Handysize TC6 30kt Skikda/Lavera ended up at WS119.06 (down WS0.94). The LR2s have been steady on TC15, 80k Mediterranean/Japan holding at around the $1.6m level.