The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 12-17 April 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
- 280,000mt to the US Gulf via the Cape to Cape routing is rated at close to mid WS90s. This contrasts with just over WS100 at the start of the week.
- There was weaker sentiment also in the market for 260,000mt. West Africa to China saw rates soften from WS143 at the start of the week to around WS137.75.
- Enquiry from the US Gulf to China was negligible, although HOB failed a Mexico to Korea run at $15 million and the route is today assessed at just below $14 million.
Tankers – Suezmax
- The market for 130,000mt West Africa to the UK-Continent had an uneventful week, with rates maintained at WS130.
- A similar scenario ensued in the 135,000mt Black Sea to Mediterranean trade, with rates hovering between WS132.5/135 region.
- The 140,000mt Basrah to Mediterranean route started the week at WS105 before dipping down to WS100 for a run to Turkey.
Tankers – Aframax
- Rates for 80,000mt Ceyhan to the Mediterranean, which eased considerably in the run up to Easter, stabilised in the mid to high WS90s.
- 80,000mt Cross-North Sea had been fixed at between WS107.5/110 before a surge of activity.
- In the 100,000mt Baltic to UK-Continent trade, initially slipped 2.5 points to WS90, rates have rebounded.
- The market for 70,000mt Caribbean to the US Gulf regained 2.5 points to sit now at WS105 region.
Tankers – Clean
- The market in the Middle East Gulf to Japan trade for 75,000mt gained 32.5 points to WS240.
- LR1s also saw renewed activity, with rates gaining 27 points to WS235.
- In the 37,000mt UK-Continent to the US Atlantic Coast trade rates are now nudging WS160, having started the week at WS140.
- Rates in the 38,000mt backhaul trade from the US Gulf to UK-Continent firmed 10 points to just over WS105.
Bulk Carriers – Capesize
- The C5 route added +0.232 to settle at $4.918. The Pacific round voyage route C10 opened the week at a premium to the Transatlantic C8.
- The Atlantic C8 stands at $10,075 to the Pacific C10 at $8,500.
- The Capesize 5TC opened the shortened week at $6,762 to close out at $9,875.
Bulk Carriers – Panamax
- Easter holidays impacted the market last week, with only minor movements in the Baltic Panamax Index (BPI). Rates crept up a little from NCSA, with $13,350 plus $335,000 ballast bonus being paid for an 82,000dwt ship.
- Rates for Baltic round trips generally hovered around the $5,000 mark, but activity elsewhere was limited.
- In the Pacific, grain demand from the North Pacific started brightly. An 82,000dwt ship achieving $8,250 for a trip via the North Pacific, back to Singapore-Japan.
Bulk Carriers – Supramax/ Ultramax
- With the ongoing Covid-19 situation the market remained bleak, period activity was sparse, but a 60,000dwt ship, open Campha, was linked to about six to nine months trading at $8,500.
- From the Continent, a 56,000dwt ship was fixed delivery Baltic trip, redelivery East Mediterranean, in the mid $5,000s.
- A 56,000dwt vessel fixing delivery Philippines trip, via Australia, redelivery Singapore-Japan, at $5,000.
Bulk Carriers – Handysize
- A short week with the overall Baltic Handysize Index (BHSI) falling below 300 after the Easter weekend.
- By the end of the week, the BHSI had declined to the same level last seen in April 2016. Little fresh cargo emerged in key areas, with sentiment remaining negative throughout the week.
- Whilst the tonnage supply was getting more excessive in both Basins, brokers saw limited market information or movement, suggesting more pressure on owners to get their vessels fixed any closer to the level of last done.
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.
See also
Baltic Exchange: Maritime market highlights 27 Mar – 3 April
Baltic Exchange: Maritime market highlights 21-27 Mar