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SAFETY4SEA

Baltic Exchange: Maritime market highlights 24-28 Aug

by The Editorial Team
August 31, 2020
in Shipping
lng carriers

Above image is used for illustration purposes only / Credit: Shutterstock

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The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 24-28 Aug 2020, to provide information of the bulk and dry 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

  • The Middle East market softened slightly with rates for 270,000mt AG/China losing 2.5 points to settle around WS30.5 and owners are facing continued downward pressure.
  • The trip for 280,000mt to US Gulf via the cape/cape routing eased about half a point to dip just below WS20.

-Suezmax

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  • Rates for 135,000mt Black Sea/Med were again flat hovering around the WS55 level while the market for 130,000mt West Africa/UK Continent slipped slightly to just below WS45.
  • The 140,000mt Middle East Gulf to Mediterranean remained unmoved at about WS19.5.

-Aframax

  • In the Mediterranean market, the 80,000mt Ceyhan/Med trade saw rates fall a further six points to WS55.
  • In Northern Europe, rates for 80,000mt Cross-North Sea are seemingly stuck at WS80 and 100,000mt Baltic/UKC also remain at just below mid WS50s.
  • Across the Atlantic the market appears to have bottomed with rates for 70,000mt Carib/US Gulf holding at WS65, and for the 70,000mt US Gulf/UK Continent trip rates are assessed at WS62.5-65 level.

-Clean

  • Owners in the Middle East Gulf had another relatively good week with rates for 75,000mt to Japan gaining six points to mid-high WS90s.
  • In the 55,000mt trade the market has remained static at WS100 level.
  • In the West, a firmer market for 37,000mt UK Continent/USAC saw rates peak at WS150 midweek, however these have since eased and now sit at WS127.5 region, an increase of almost 40 points week-on-week.

 

Bulk carriers

-Capesize

  • The week ended with a flurry of Brazil fixing which is now hovering in the low $18’s – approximately a dollar up on last week.
  • Meanwhile there was less activity in the transatlantic market where the C7 and C8 routes came off a shade and the fronthaul was relatively static.

-Panamax

  • US Gulf soya bean exports appeared to come to the fore this week with talk in the news of strong volumes to come for the rest of 2020.
  • Charterers principally opted for decent specification and Neo Panama fitted specification tonnage, altering the dynamic in the Pacific somewhat, and signalling firmer rates and sentiment aided by solid enquiry ex NoPac and Australia.
  • In comparison, it was something of a damp squib in the north Atlantic for most of the week as the Continent tonnage count grew. Despite a varied degree of fixing in places, it did little to quell the softening of rates with P1A and P2A shedding $2,360 and $778 on the week.

-Ultramax/Supramax

  • The mixed outlook that characterised the Supramax market this week, could not disguise the underlying weakness owing to a heavy prompt tonnage count in some areas, notably the Black Sea and US Gulf.
  • The indices duly reflected, with the relevant fronthaul routes S1B, and S1C losing $964, and $250 respectively on the week.
  • On a positive, some brokers pointed to increasing tightness from east coast South America for September, with well-described Ultramaxes said to be fixing fronthauls at $15,250 plus $525,000. Any recovery in the short term may well prove to be non-linear.

-Handysize

  • Little signs of improvement from the US Gulf or east coast South America this week, similarly the Pacific.
  • Limited vessels were available in the Continent to make August dates whilst the region, together with Mediterranean / Black Sea market, continued their drive forward with rising trend.

 

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.

Baltic Exchange: Maritime market highlights 24-28 AugBaltic Exchange: Maritime market highlights 24-28 Aug
Baltic Exchange: Maritime market highlights 24-28 AugBaltic Exchange: Maritime market highlights 24-28 Aug
Tags: Baltic Exchangebulk carriersshipping markettankers
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