Tankers - VLCC

  • The market in the Middle East was again static, due to Coronavirus.
  • Rates for 270,000mt to China loitered at WS42.5, while 280,000mt to the US Gulf via the Cape/Cape routing is stuck at WS30.
  • In the Atlantic region rates for 260,000mt West Africa to China languished at WS46 level. In the 270,000mt US Gulf/China market, rates are assessed $100k lower than a week ago at around $6.5m.

Tankers - Suezmax

  • With Libya off-line, and a quieter Mediterranean and Black Sea market, Suezmax activity has been reduced.
  • Rates for 130,000mt West Africa to UK-Continent weakened 1.2 points to WS77.5-80 level. In the 135,000mt Black Sea to Mediterranean trade, rates fell three to four points to WS85-87.5.
  • The 140,000mt Basrah to Mediterranean route was again tested, resulting in charterers able to slice 2.5-5 points from last week’s level, leaving the rate hovering in the mid WS30s.

Tankers - Aframax

  • 100,000mt Baltic to UK-Continent fell back half a dozen points to WS107.5.
  • On the other side of the Atlantic 70,000mt Caribbean to US Gulf rates rose 7.5 points to a fragile-looking WS185.
  • 70,000mt US Gulf to the Mediterranean fell away 23 points to WS142.5-145 region.

Tankers - Clean

  • The market in the Middle East Gulf to Japan trade for 75,000mt was steady.
  • In the 55,000mt size, the market likewise initially firmed five points and thereafter has been hovering between WS112.5/115 region.
  • In the 37,000mt UK-Continent to US Atlantic Coast trade, rates firmed a week ago to low WS160s. Subsequently, the market firmed to WS167.5/170 region, before easing back to around mid WS160s.
  • In the 38,000mt backhaul trade from US Gulf to UK-Continent, rates held at around WS87.5.
  • The 30,000mt clean cross-Mediterranean market was largely unchanged at WS190 level.

Bulk carrier - Capesize

  • Transatlantic C8 now pricing at $2,655.
  • The Pacific Transatlantic C10 continues to make modest gains to close the week out at $4,900.
  • The C5 voyage route, West Australia to China, remains under pressure, but managed to lift slightly this week, finishing at $5.986, a rise of +.391.
  • The Capesize 5TC opened the week at $2,445 to close out the week at $2,787.

Bulk carrier - Panamax

  • P1A Transatlantic round voyage, which gained $1,380 on the week to close at $4,805.
  • The 5TC average duly climbed $1,170 to close at $7,087, an almost 20% gain for the week.
  • East Coast South America (ECSA) market was also active this week, with delivery Arrival Pilot Station (APS) Brazil, becoming delivery dropping outward pilot station (DOP) India in the latter stages of the week.
  • ‘Konkar Venture’ (82,099dwt, 2015 built), which fixed basis delivery APS Santos at $13,450 plus $345,000 ballast bonus basis 6/10 March.
  • ‘Sea Gemini’ (81,715dwt, 2014 built) fixed basis delivery Singapore 3/6 March at $10,200 for a similar Brazil round voyage.
  • Some short period fixing was reported, including the ‘Avicl Artemis’ (82,000dwt, 2019 built) at $11,500 for four to seven months basis delivery Machong with redelivery worldwide.
  • The ‘Coronis’ (74,381dwt, 2006 built) purportedly fixed $8,000 for about nine to ten months to Koch. The consensus amongst most is that further improvements will be seen next week.

Bulk carrier - Supramax/Ultramax

  • Tightening of tonnage supply in many areas in the Atlantic.
  • In the Asian arena rates improved slowly, with more enquiry, but tonnage availability remained abundant. On the period front, activity was more evident.
  • A 55,000dwt ship, open China, fixing for one year in the high $8,000s.
  • From East Coast South America, a 60,000dwt ship was fixed delivery Recalada trip to Egypt at $11,250.
  • Further north from the US Gulf, a 63,800dwt ship was fixed for a petcoke run via India, redelivery Port Said, in the low $14,000s.
  • A 55,700dwt ship fixing delivery Portugal trip, via the Continent, redelivery East Mediterranean at $11,250.
  • In Asia, stronger numbers for trading China, with a 57,000dwt ship fixing delivery South Kalimantan trip, redelivery CJK, at $7,600.
  • The Indian Ocean also saw healthier numbers. A 63,000dwt ship fixing delivery South Africa trip, redelivery Colombo, at $11,000 plus $100,000 ballast bonus.

Bulk carrier - Handysize

  • Handysize sector started to show signs of recovery from the early part of the week.
  • There were some stronger rates fixed from the Continent, Mediterranean and especially East Coast South America.
  • The US Gulf was relatively quiet. In the East there was a slight improvement, with Southeast Asia delivery leading the positive trend.
  • A 35,000dwt ship open in Indonesia in early March was fixed for five to eight months at $5,250 for the first 35 days and $9,000 thereafter.
  • For time charter trips from East Coast South America this week, a 37,000dwt ship open Santos was fixed to Morocco at $10,500.
  • Another large Handysize vessel was fixed from Vila Do Conde for a trip to Norway at $10,000.
  • From the Pacific, a 38,000dwt ship was fixed from Japan to Southeast Asia at $4,000.
  • A 32,000dwt ship open Thailand was fixed to East Coast India at $4,000.

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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.