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Baltic Exchange: Maritime market highlights 30 Nov – 4 Dec

by The Editorial Team
December 7, 2020
in Shipping
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The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 30 November – 4 December 2020, 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

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  • Rates firmed 2.5 points to WS31 (about $11,500 per day) for 270,000mt ME Gulf to China, while on the 280,000mt ME Gulf to USG via the Cape/Cape routing rates are assessed at WS16.5 level – up a single point.
  • In the Atlantic, rates for 260,000mt West Africa to China firmed 4.5 points to just shy of WS35 (about $17,500 per day). 270,000mt US Gulf to China rates are now assessed at close to $4.7m, about $80k higher than a week ago.

-Suezmax

  • Rates for 135,000mt Black Sea/Med were weakened by two points to WS51 level and 130,000mt Nigeria to UK Continent is now trading around WS37 – also down a couple of points.
  • In the Middle East market, rates remain around WS18-19 for 140,000mt Basrah/Med.

-Aframax

  • In Northern Europe the 80,000mt cross-North Sea market slipped a couple of points to just under WS75 and 100,000mt Baltic/UK Cont saw a marginal slide of 1 point to WS45.
  • Across the Atlantic, after the Thanksgiving impetus had subsided, rates have tumbled with charterers seemingly able to regain control.

-Clean

  • In the Middle East Gulf/Japan trade, charterers have managed to squeeze rates down further with the market for 75,000mt starting the week in the very low WS70s before Idemitsu covered at WS67.5.
  • There was little to enthuse after the Thanksgiving holiday in the USA, with the backhaul trip of 38,000ms from US Gulf to UK Continent losing three / four points to sit now around WS45/46 region.
  • The 38,000mt US Gulf to Brazil run drifted down around 1.5 points to settle at WS65.

 

Bulk carriers

-Capesize

  • The West Australia to China C5 lifted 68 cents this week to $7.795, while the Brazil to China C3 saw rates under sustained pressure drop $1.45 down to $12.36. Re-scheduling of several vessels out of Ponta Da Madeira – due to an incident – was partly to blame for this decline. In the North Atlantic, prompt vessel tightness is causing firming of some rates. But overall, the basin remains in dire need of cargo.
  • The Transatlantic C8, trading now at $12,725, lifted at weeks end but is firmly placed as the discounted basin with the Pacific C10 trading now at $16,638 with its more ample supply of cargo. With Q1 ’21 only around the corner with its forward levels well below $10k level, the option of which basin to trade will largely favour the Pacific unless 2020 has another surprise up its sleeve.

-Panamax

  • The North Atlantic Panamax market was described by a few as appearing like a two-tier market with premium rates paid for the quick Baltic coal trips.
  • Close to $20,000 was paid a couple of times as tonnage count appeared tight. But elsewhere, discounted rates were witnessed as owners wanting longer duration employment to avoid opening their tonnage over the festive period.
  • A similar picture emerged in Asia too, with Indonesia to China and Australia to India predominantly the market drivers this week with the NoPac taking something of a back seat.

-Ultramax/Supramax

  • A 61,000-dwt open in Asia was fixed at $10,275 for one year. Atlantic activity centred around the Mediterranean – Continent with tonnage in short supply.
  • A 63,000-dwt fixing delivery Marmara Sea redelivery US east coast in the upper $11,000s and 57,000-dwt fixing a trip from the Continent via the Baltic to the east Mediterranean at $17,000.

-Handysize

  • East coast South America was largely flat, with brokers having slightly different opinions on the trend. It was suggested more ballasters sailing from west Africa towards east coast South America – whilst rates on transatlantic trips from the region then began to fall.
  • A 37,000-dwt was fixed from the Continent for a trip to east Mediterranean at a rate in the $17,000s. A 33,000-dwt delivery Pecem next week was fixed for a trip to the US Gulf at $13,500. A 38,000-dwt delivery Veracruz was fixed for a trip via US east coast to the Continent at $13,500. A 29,000-dwt was fixed basis passing Jeddah for a trip via Israel to Japan at $10,000.

 

See also:

Baltic Exchange: Maritime market highlights 23-27 Nov

Baltic Exchange: Maritime market highlights 16-20 Nov

Baltic Exchange: Maritime market highlights 30 Nov – 4 DecBaltic Exchange: Maritime market highlights 30 Nov – 4 Dec
Baltic Exchange: Maritime market highlights 30 Nov – 4 DecBaltic Exchange: Maritime market highlights 30 Nov – 4 Dec
Tags: Baltic Exchangeshipping marketsm
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