The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week,22-26 February 2021, 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.
Tankers
-VLCC
- In the Middle East region, 280,000mt to US Gulf via the Cape/Cape routing continues to be assessed at WS18.5 level, while rates for 270,000mt to China eased about a point to WS31.5 (a TCE of minus $2.9k/day) with Unipec reported on subjects with several VLCCs at this level.
- In the Atlantic region, 260,000mt West Africa to China saw a similar single point decline on the rate to about WS34.5 (TCE of about $1k/day) and 270,000mt from US Gulf to China saw rates decrease by $237.5k to $4.1375m, showing a TCE of just over $3k/day basis a round trip.
-Suezmax
- In the 135,000mt Black Sea/Med market rates have gained a point to the WS75 mark ($6,750/day TCE) while the 130,000mt Nigeria/UK Continent market eased a point to WS55 ($2,750/day TCE).
- The market for 140,000mt Basrah/Med remains at WS18, with a Spanish charterer reported on subjects at this level with a trader’s relet earlier in the week.
-Aframax
- The Mediterranean market saw further improvements with 80,000mt Ceyhan/Lavera gaining 12 points to WS132.5/135 level (basis a round voyage, about $22,100/day TCE). It was a slightly different story in Northern Europe as 80,000mt cross-North Sea eased a point to WS97 while and 100,000mt Baltic/UKContinent lost six points to WS81.25.
- On the other side of the Atlantic, rates continued their upward trajectory. The 70,000mt Caribbean/US Gulf market gained 33 points to WS150 level (a TCE of about $21,300/day round trip) while 70,000mt US Gulf/UK Continent saw a rise of 14 points to WS125.
[smlsubform prepend=”GET THE SAFETY4SEA IN YOUR INBOX!” showname=false emailtxt=”” emailholder=”Enter your email address” showsubmit=true submittxt=”Submit” jsthanks=false thankyou=”Thank you for subscribing to our mailing list”]
-Clean
- It has been a relatively uneventful week for LR Owners, where 75,000mt Middle East Gulf/Japan rates nudged up around five points to low WS70S. But due to higher bunker prices, this has had minimal effect on the TCE. It was a similar story on the LR1s, with rates for 55,000mt to Japan also gaining around five points to WS90.
- It has been a rather disappointing week for Cont/USAC. A significant number of ballasters heading towards Europe duly took its toll on the market, sending rates down almost 25 points to WS125 level.
- It was a difficult week for handy Owners trading cross-Mediterranean trade with rates losing almost 25 points to WS177.5.
Bulk carriers
-Capesize
- The Pacific basin on its own showed a little more stability, remaining largely flat on the transpacific C10 and ending the week at exactly $11,500. The transatlantic C8 had a little less resilience as it dropped $2,550 to $15,025, which is albeit still a solid premium to the Pacific.
- The Brazil to China C3 route came under sustained pressure this week dropping $1.885 to $15.49 in the face of increasing bunker prices.
- The earnings for the C3 on a standard Baltic 180,000-dwt vessel are currently in the $7,000-8,000/day range on a time charter equivalent basis. Owner optimism sees the demand for Capesize ramping up.
-Panamax
- From the south Atlantic there was a little activity with 82,000-dwt tonnage delivery SE Asia consistently achieving midweek region $20/21,000 level for trips via EC South America back to the Far East, but rates eased down and are now paying closer to $19,000.
- Asia depicted a similar trend with weaker rates as the week progressed. There was talk of deals fixing and failing, as well as some pressure from Capesize tonnage eating into Pacific mineral trades.
-Ultramax/Supramax
- Another positive week with the BSI gaining 365 points. Charterers continued to seek period cover with Ultramaxes open in Asia fixing in the very low $20,000s for short period and Supramax size in the upper teens.
- From the Continent, a 52,000-dwt was fixed in the upper $20,000s for a scrap run from the lower Baltic with redelivery in east Mediterranean. The Asian market also strengthened at the beginning of the week.
- A 57,000-dwt open north China fixing two laden legs redelivery Singapore-Japan at $20,000 and a Supramax also open north China fixing an Australian round in the mid $17,000s.
-Handysize
- A 37,000-dwt open Casablanca was fixed for a grain cargo via the Continent to Algeria at $19,000. A 33,000-dwt open Setubal was fixed for a trip via A-R-A-G to east coast South America at the same level.
- A 39,000-dwt open river Plate was fixed for a trip to Egypt at $29,500. From the US Gulf, a 38,000-dwt delivery was fixed mid week for a trip to Morocco at $23,500.
- On the period front from the east, mid-sized open China end March and early April was fixed for four to six months at $16,000.
