The Baltic Exchange, the world’s independent source of maritime market data, has issued its report for the last week, 06-10 March 2023, to provide information of the bulk market performance.
According to Baltic Exchange reports, highlights of capesize, panamax, ultramax/supramax, handysize include:
Capesize
- A stronger week overall for the sector as the North Atlantic appeared active with more enquiry since the middle of the week.
- With fresh tonnage getting tighter the time charter trips for both fronthaul and Transatlantic runs had the biggest improvement amongst all routes, finishing the week at $16,639 and $29,344 respectively.
- The Pacific kept its steady pace as the West Australia to Qingdao run stepped up to $8.375, a peak so far this year and last seen before Christmas last year.
- Subsequently, the time charter average for the 5TC rose over $4,000 compared with last Friday and finished proceedings at $14,466.
Panamax
- A captivating week for the Panamax market with various peaks and troughs seen across all markets.
- The Transatlantic in the North appeared a little nervous in places with a lack of demand and some voyage fixtures equating to exceptionally low returns. However, there was talk of improved bids for the fronthaul trips come Friday.
- EC South America saw a mini splurge midweek with end March arrivals capturing better numbers, $17,000 +$700,000 was being achieved here.
- Asia witnessed a firmer week with all origins coming alive and finding support. Indonesia saw a healthy pick up in activity, ably supported by good grain and mineral demand ex Australia and NoPac.
Ultramax/Supramax
- A story of two halves, with the start of the week seeing little excitement in Asia at the beginning.
- The Atlantic generally remained firm with stronger levels seen from the South Atlantic and more availability from the Mediterranean.
- Period interest remained and a 63,000-dwt open Continent fixing around $18,000 for seven to nine months. A 56,000-dwt open China fixed four to about six months trading at $14,600. From the South Atlantic, Ultramax sizes were seeing around $20,000 for Transatlantic runs.
Handysize
- The buoyant mood continued during the week with positive gains in both basins despite a lack of visible activity.
- East Coast South America was said to have seen fresh grain enquiry enter the market daily.
- An unnamed large handy was rumoured to have been fixed from South Brazil via the River Plate to Antwerp-Rotterdam-Amsterdam-Ghent range in the region of $14,000/ $14,500, but no more details surfaced.
- A 24,000-dwt open in the Eastern Mediterranean was fixed basis delivery Canakkale via the Black Sea to the United Kingdom with an intended cargo of agriproducts at $7,000.
- From Asia, brokers spoke of more requirements from Australia and Indonesia with a 37,00-dwt fixing in the mid teens for a trip from Thailand via Southeast Asia to China.
