Baltic Exchange: Maritime market highlights 12-16 Oct

The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 12-16 October 2020, to provide information of the bulk and dry 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

A slight improvement was seen this week on certain routes in this sector.
In the Atlantic, rates for 260,000mt West Africa to China remain unchanged at WS30/31. As for 270,000mt USG to China, rates remain around the $4.7-$4.8m mark.

Tankers – Suezmax

Rates for 135,000mt Black Sea/Med eased a couple of points to WS42.5 level, whilst 130,000mt Nigeria/UK Continent was fixed a few times this week and charterers pushed rates down another point or two to WS30.
In the Middle East market, there is still no optimism for owners and rates for 140,000mt Basrah/Med are now assessed at around WS12.5-13 – down just over a point from last week.

Tankers – Aframax

The 80,000mt Ceyhan/Med market, for the fourth week running, remained stuck at WS57.5.
In Northern Europe rates for 80,000mt Cross-North Sea initially lost 2.5 points to WS67.5 but recovered to WS70.

Tankers – Clean

The start of the week saw rates in the 75,000mt Middle East Gulf/Japan trade ease two plus points to WS72.5, and charterers have continued to force owners into further concessions with the market here now in the high WS60s.
The US Gulf/Brazil trade followed suit with the market losing 12.5 points to sit now at WS77.5. The clean market cross Med was stagnant at WS70.

Bulk carriers – Capesize

The Atlantic has been the most affected of the basins, yet this is likely because it had further to fall. As expected, activity was low throughout the declining week with owners able to bide their time to take large bites out of rates every time they fixed.
The Brazil to China C3 declined at an increasing rate, as it lost -$3.592 to close the market down at $16.53 by weeks end.

Bulk – Panamax

The US gulf numbers drifted as committed tonnage and ballasters broadly frustrated the market here.
Activity from EC South America was modest – at best. In Asia, it was a tale of two divides with the North region at the beginning of the week trending firm and the south appearing weak with a distinct lack of minerals ex Australia.

Bulk – Ultramax/Supramax

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From the Atlantic, demand remained from Mediterranean and Continent. A 55,600-dwt fixing delivery Casablanca for a trip via Continent redelivery east Mediterranean with scrap at $15,500.
From the US Gulf, rate remained steady especially for petcoke runs to India. A 57,000-dwt fixing at $24,000 redelivery west coast India.

Bulk – Handysize

From east coast South America, a 35,000-dwt was fixed from Santos for a trip to Morocco at $9,000. A 36,000-dwt open Pori was fixed for a trip via Baltic to the Continent at $18,000 and a 38,000-dwt open Esbjerg was fixed for a trip to Sea of Marmara with scrap cargoes at $18,000.
From the US Gulf, a 39,000-dwt was fixed for a trip to UK Continent with pellets at $15,500.

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.