The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 16-20 November 2020, 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.
- In the Middle East, 280,000mt to USG via the Cape/Cape routing continues to be assessed at W15 and 270,000mt to China is still hovering around WS26.
- In the Atlantic, rates for 260,000mt West Africa to China held around the WS29.5 level while 270,000mt US Gulf to China improved by about $90k to $4.6m.
- Rates for 135,000mt Black Sea/Med rose 2.5-3 points to low WS50s, while owners in the 130,000mt Nigeria to UK Continent market were unable to stop rates sliding 2.5-3 points to WS36.5/37 level.
- In the Middle East market, rates slipped two points to WS20 for 140,000mt Basrah/Med.
- In Northern Europe rates for 80,000mt cross-North Sea gained five points to just shy of WS75 and 100,000mt Baltic/UKC firmed 2.5 points WS43.5 level.
- Across the Atlantic owners were able to capitalise on a continued firmer market and pushed rates for 70,000mt Carib/USGulf up 10 points to WS85.
- In the Middle East Gulf/Japan trade, owners were able to maintain the firming trend of the previous week and rates gained around five to six points for 75,000mt to sit now in the low WS80s.
- Ιn the 37,000mt UKContinent/USAC trade rates were steady at WS75 level, while WS85 was done in to West Africa.
- ‘Resistant’ would be one adjective to describe the Capesize market this week, as there was an increasing perception that it had discovered a floor, in several areas – specifically in Asia – where the pivotal C5 West Australia round gained 0.396 $/mt on the week to reach 6.973 $/mt, as all the majors became active.
- The North Atlantic continued to underperform despite, or because of, a flurry of EC Canada fronthaul fixtures during midweek – the underlying C9 route shed $2,525 on the week to $23,500.
- The Pacific began the week tamely. But with a spate of Australian demand midweek adding to a healthy NoPac order book, this aided rates to continue to rise throughout the week with upper $10,000’s/$11,000 for 82,000-dwt type around the mean average for the longer round trips.
- In the Atlantic, a long list of committed ballasters to the US Gulf appeared for the most part to keep a lid on rates from this origin.
- Period activity was limited as both sides watched for clear long-term signals but a 55,000-dwt open Arabian Gulf was fixed for three months trading at close to $11,000.
- From Asia, Indonesian coal exports ramped up. A 60,000-dwt fixing delivery Manila for a trip via Indonesia redelivery west coast India at $10,500.
- The surge helped the relevant HS3 route recover back to the level last seen at the end of September and early October this year.
- US Gulf showed further improvement, but Continent / Mediterranean region remained soft.
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.
You may explore more, herebelow