Tankers

-VLCC

  • A relatively quiet start to 2021. On the new 2021 Worldscale schedule, flat rates fell about 17%.
  • In the Middle East, 280,000mt to US Gulf via the Cape/Cape routing is assessed almost a point down at WS21 level, while 270,000mt to China is rated two points lower since Monday at WS40.5.
  • In the Atlantic, rates for 260,000mt West Africa to China fell three points to WS38.

-Suezmax

  • In the 135,000mt Black Sea/Med market, rates seemed to plateau at WS59 level. Meanwhile, for 130,000mt Nigeria/UK Continent they fell back 3.5 points to WS37.5-38 region.
  • In the Middle East market, 140,000mt Basrah/Med voyages remain at WS11.5 despite the approximate 16% fall in the 2021 WS flat rate.

-Aframax

  • Rates for 80,000mt Ceyhan/Lavera remain steady around the WS70 level, whilst in Northern Europe voyages of 80,000mt cross-North Sea continue to hover around the WS81.5 level and 100,000mt Baltic/UK-Continent saw rates 1.5 points lower at a shade over WS60.
  • On the other side of the Atlantic, rates for 70,000mt Carib to US Gulf are flat at WS90 level and the 70,000mt US Gulf to UK Continent market saw rates weaken eight points to around WS77.

-Clean

  • There has been little to cheer for owners at the start of the New Year. Significantly lower 2021 flat rates, combined with higher bunker costs, have left owners struggling to maintain even modest TCE’s.
  • In the Middle East Gulf/Japan trade, rates have remained under pressure with rates for 75,000mt hovering around WS80.
  • In the Atlantic trade, the second half of the week saw plenty of fresh enquiry for both transatlantic and West Africa discharge.

Bulk carriers

-Capesize

  • The market has surely surprised many this week after sparking into life and quickly surpassing levels seen in November and December 2020.
  • The Capesize 5TC ended 2020 at $16,633 and now closes out its opening week of 2021 at a resounding $21,131.
  • Brazil to China C3 settled at up $1.645 to $17.33 to end the week.
  • The West Australia to China C5 settled at the end of the week up $0.491 at $9.336.

-Panamax

  • In early week trading, 82,000-dwt delivery Singapore were achieving figures in the $12,500 region for trips via EC South America to the Far east. This then improved closer to $14,000.
  • From Indonesia an 82,000-dwt delivery China fixed at $10,750 for an Indonesian coal run. But by end of the week the mean rate was in excess of $12,000.

-Ultramax/Supramax

  • The first week of 2021 was a mixed bag with a slow start. But as the week came to an end, activity levels were increasing.
  • The Atlantic saw demand remain from the Continent, a 56,000-dwt fixing a trip from the Baltic to India in the low $20,000s.
  • As the week closed, the US Gulf was finely balanced with a 58,000-dwt fixing two laden legs with minimum duration of 70 days redelivery Singapore-Japan at $20,000.

-Handysize

  • It was a slow week overall to begin the year with. Most of the Atlantic routes remained in the negative zone, with decline in the Continent being evident compared with the Christmas period.
  • In the US Gulf, the wide spread between owners and charterers' ideas continued. But it was also suggested that more fresh cargoes were expected to come out to the Gulf market.
  • On the period front, a 38,000-dwt open Brownsville mid-January was fixed for three to five months at $12,500 with redelivery in the Atlantic.