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SAFETY4SEA

Baltic Exchange: Maritime market highlights 2-8 April

by The Editorial Team
April 11, 2022
in Shipping
baltic exchange

Credits: Shutterstock

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The Baltic Exchange has issued its report for the last week, 2-8 April, to provide information about the tanker and bulk market performance.

Capesize

Overall it was not a very active week, with limited fresh cargo support from either of the basins. The BCI and timecharter average started the week at a level close to 1800 points and $15,000, but remained in negative territory until a marginal improvement on Friday. The market settled at 1444 points and $11,979, the lowest value since mid-February this year.

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There was not much backhaul, fronthaul or transatlantic cargo reported from the Atlantic this week. One of the main indicators, the C3 Brazil to Qingdao trade, declined over a dollar and is currently at $24.775, reflecting a timecharter average of $11,964 on the China-Brazil round voyage. The C5 West Australia to Qingdao run climbed back to $9.236 on Friday, marking the transpacific round voyage at $10,208 to close the week.

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Panamax

A sluggish week activity wise for the Panamax market resulting in rates continuing to come under pressure. Noticeably the grain houses were absent from the market, which appeared to cause some anguish. Activity in the Atlantic – and especially the transatlantic trips – were disappointing overall. South America transatlantic trips back to this side were seen fixed on tonnage open Continent/Mediterranean along with some ballaster tonnage.

An 81,000-dwt delivery Morocco was seen fixing a trip via North Coast South America redelivery Far East at $36,000 with fronthaul rates holding steady around this level on the week. Asia returned a slow start with holidays impacting and failed to find any real traction. The NoPac round trips hovered around the $20/21,000 mark for the majority, but with limited demand activity was slow. Period appetite was soft, underpinned by negative FFA and physical markets. However, an 82,000-dwt delivery India did achieve $30,000 for four to six months trading.

Ultramax/Supramax

An uninspiring week in many areas as demand from China eased, leading to limited fresh enquiry and prompt tonnage availability growing in key areas such as South East Asia. The Atlantic remained positional and rates eased slowly. Period activity was limited, but a 63,000-dwt open North China was heard fixed for four to six months trading at around $33,000. From the Atlantic, steady demand from South America saw a 55,000-dwt fixing delivery Recalada trip to Nouakchott at $37,500.

Elsewhere, there was limited action from the Continent. A 56,000-dwt open Amsterdam fixed a trip to the East Mediterranean at $27,250. A fair amount of failing was seen from Asia, but a 56,000-dwt open Japan was fixed via South Korea redelivery Mediterranean at $30,600. From the Indian Ocean a 63,000-dwt was fixed delivery South Africa trip to Pakistan at $26,400 plus $640,000 ballast bonus. The 10TC weighted average finished the week at $27,518.

Handysize

It has been a turbulent week with most regions seeing declining levels due to various factors. In Asia there was limited activity party due to holidays in China. A 38,000-dwt open in South East Asia was rumoured to have been fixed for an Australian Round voyage at $25,000 and a 38,0000-dwt open in Taicang was rumoured to have fixed a trip via East Coast Australia to China with an intended cargo of concentrates at $27,500.

The Continent saw more activity with a 38,000-dwt being fixed for four to six months with worldwide redelivery at $26,000. The vessel was then being relet for her first let to carry a cargo of fertiliser from Murmansk to Brazil at $38,000 as there is currently a premium for Russian loading cargoes. In the US Gulf a 39,000-dwt was rumoured to have been placed on subjects for a trip from Panama City to the UK with wood pellets at $28,000.

Tags: Baltic Exchangedry bulk shippingshipping industryshipping tradetankers

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