Baltic Exchange: Maritime market highlights 5-9 Oct

The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 5-9 October 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

There were no changes in rates or sentiment in the Middle East with 280,000mt to USG via the Cape/Cape routing remaining assessed at a shade above WS17 and 270,000mt to China hovering around WS26.5.
In the Atlantic, rates for 260,000mt West Africa to China are unchanged at WS30/31. Voyages of 270,000mt USG to China are valued at $4.8m, up about $200k from a week ago.

Tankers – Suezmax

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Rates for 135,000mt Black Sea/Med are again pegged at WS45.
In the 130,000mt Nigeria/UK Continent market, charterers were able to snatch back 2.5 points to WS32.5 level.
In the Middle East market sentiment remains depressed and 140,000mt Basrah/Med is now assessed at about W13.5 – almost a point less than a week ago.

Tankers – Aframax

The 80,000mt Ceyhan/Med market remains rooted at WS57.5.
In Northern Europe rates for 80,000mt Cross-North Sea eased a point or two to WS71.5 and 100,000mt Baltic/UKC lost five to six points to WS36.25.

Tankers – Clean

The start of the week saw rates in the 75,000mt Middle East Gulf/Japan trade firm 7.5 points to WS75 and thereafter have held at this level.
Meanwhile, in the US Gulf/Brazil trade, rates now sit at WS92.5 – down 12.5 points from the start of the week.
The 30,000mt clean cross-Med trade had another miserable week with rates easing just over five points to barely WS70 level.

Bulk carriers – Capesize

The Capesize market reached new highs for the year this week, topping out at $34,896 on the 5TC.
The usual constant Pacific flow has ticked over, providing some firm insight into the market with the West Australia to China C5 route down Friday -0.496 to settle at $9.709.

Bulk – Panamax

Rates duly rallied with $13,150 being agreed on an 82,000-dwt for a US east coast round basis delivery Gibraltar.
Elsewhere in the Atlantic, rates from South America nudged up. It was predominantly sentiment driven with talk of Cape Split cargoes carrying over into the market from last week, but by mid-week this interest appeared to have fizzled out.

Bulk – Ultramax/Supramax

Period activity was limited but a 63,000-dwt open China was fixed for a short period at $11,000.
A 55,000-dwt fixing delivery Morocco trip via Continent redelivery east Mediterranean in the mid teens.
A 61,000-dwt fixing delivery South Africa for a trip to east coast India at $13,500, plus $350,000 ballast bonus.

Bulk – Handysize

From east coast South America, a 35,000-dwt was fixed from Santos for a trip to Morocco at $9,000.
A 36,000-dwt open Pori was fixed for a trip via Baltic to the Continent at $18,000 and a 38,000-dwt open Esbjerg was fixed for a trip to Sea of Marmara with scrap cargoes at $18,000.
From the US Gulf, a 39,000-dwt was fixed for a trip to UK Continent with pellets at $15,500.

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.