- 280,000mt to the US Gulf, via the Cape to Cape routing, is rated at the WS88 level, while 270,000mt to China is at WS112.5.
- The market for 260,000mt West Africa to China sank 25 points to high WS80s, before recovering to WS112.5.
- Rates for 270,000mt, US Gulf to China, dropped over $2 million on weaker sentiment
Tankers - Suezmax
- The market for 130,000mt West Africa to the UK-Continent mirrored the VLCC action
- The rates for 135,000mt Black Sea to the Mediterranean have remained flat for the week at close to WS115
- On the 140,000mt Basrah to Mediterranean route, rates dipped 20 points to WS70 level early on.
Tankers - Aframax
- Rates for 80,000mt Ceyhan to the Mediterranean are now at WS165, down 10 points from a week ago.
- Rates in Northern Europe lost 20 points.
- 80,000mt Cross-North Sea is now in the low-mid WS160s range, while 100,000mt Baltic to UK-Continent is now at high WS130s.
Tankers - Clean
- The LR1s followed a similar pattern, and after the market eased at the end of the previous week to high WS160s, rates have now consolidated in the mid WS160s.
- In the 37,000mt UK-Continent to US Atlantic Coast trade, the start of the week saw rates soften to close to WS165.
- Rates in the 38,000mt backhaul trade from the US Gulf to UK-Continent continued to fall.
Bulk Carriers - Capesize
- As Covid-19 continued to ratchet up tensions across the globe, the Cape market dealt with the change to remote working.
- Most regions of the world are now under no illusions as to the severity of this crisis and are acting to mitigate amongst the daily changing circumstances.
- Force Majeure declarations are increasingly common, with the latest heard being at European steel mills.
Bulk Carriers - Panamax
- A turbulent week with Covid-19 dominating headlines.
- Force Majeure was declared in several countries and integral shipping ports, as nervousness enveloped the market.
- Bright news of soya bean meal crushing margins turning positive in China and a good volume of fresh sales were concluded ex-Brazil and USA into China as a result thereof.
Bulk Carriers - Supramax/ Ultramax
- An anaemic week for the Supramax market – driven lower predominantly by the Atlantic routes, as macro concerns continued to weigh heavily on the index.
- On already decreasing cargo volumes, many charterers, who were not forced to comply with tight nominations, duly withdrew from the market.
- Brokers said that the tonnage count in the Atlantic continued to grow – correspondingly the offers appeared to track down.
Bulk Carriers - Handysize
- The consecutive positive trend since mid-February came to an end, with the overall Handysize Index (BHSI) declining from midweek.
- Rates from the Continent moved sharply lower, with limited cargo support, whilst some market players chose to move cargoes by using own tonnage.
- Volume was described to be thin in both East Coast South America and the US Gulf.
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.