The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 6-10 Sept 2021, to provide information about 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.
Bulk carriers
-Capesize
- The Capesize market staged a dramatic turnabout at weeks end after seeing several days of value eroded off each route in the market. Closing last week at $46,647 the market took losses down to $40,518 before surging +5021 on Friday to close this week out at $46,172.
- The market change is sure to have left many traders bewildered, yet this is well known to happen in the Capesize sector.
- Throughout the week the Transpacific C10 was largely responsible for much of the poor sentiment, as it settled up 4589 to close at $41,954.
-Panamax
- A midweek push saw end September/early October arrival loading out of EC South America find some support, with various rumours emerging.
- In Asia, a similar pattern played out for the early part with congestion ex China easing against a frail looking cargo list. Rates softened, only for them to find support later in the week with better demand.
- A 82,000-dwt delivery North China agreed $32,750 for a NoPac round trip roughly the mean average on the week. A 82,000-dwt achieved $30,750 for 11/13 months period basis a China delivery.
-Ultramax/Supramax
- In the Atlantic, limited fresh enquiry from east coast south America, but a 56,000-dwt was heard to have been fixed in the mid to upper $30,000s for a trip to Algeria.
- Elsewhere, a 57,000-dwt open west Africa was heard fixed for a trip to the eastern Mediterranean at $31,000. From Asia, a 59,000-dwt open Philippines was linked to a trip via Indonesia redelivery Thailand at $35,000.
- At the beginning of the week a 55,000-dwt open north China was fixed via Korea trip redelivery west coast India at $35,000.
-Handysize
- A 30,000-dwt was rumoured to have fixed for Puerto Bolivar to Morocco with an intended cargo of coal at $16,000. A 37,000-dwt open in Cristobal ballasted to Fazendinha to fixed a trip to the Continent with grains at $21,000.
- South Brazil has rallied in the last few days with a 37,000-dwt rumoured to have fixed a trip from Upriver Plate to the Baltic at around $36,000.
- In Asia a 28,000-dwt open in China was fixed for two Laden Legs at $28,000. A 34,000-dwt was rumoured to have fixed for minimum of seven months from the Western Mediterranean region at $35,000.
Tankers
-VLCC
- In the Middle East Gulf region the rate for 280,000mt to US Gulf (routing via the Cape/Cape) remains steady at the WS18/18.5 level mark, while 270,000mt to China saw a half point gain to just over WS34 (a round trip TCE of about minus $1.9k per day).
- In the Atlantic, rates for 260,000mt West Africa to China rose a modest point to a fraction below WS35 ($860 per day TCE roundtrip) and 270,000mt US Gulf to China rose $156k to $4.131m (a TCE of $1.8k per day roundtrip).
-Suezmax
- In West Africa more availability of tonnage has had a negative impact and the rate for 130,000mt Nigeria/UK Continent is down 2.5 points to WS52/52.5 level (a round trip TCE of $200 per day).
- Rates for 135,000mt Black Sea/Med eased two points to WS60 (showing a TCE round trip of minus $5.8k per day).
- The Middle East market saw Repsol and Litasco fixing from Basrah to Spain and Greece respectively at around WS23.5 levels although the Baltic Exchange voyage of 140,000mt Basrah/Lavera is still assessed at around the WS24.5/25 level.
-Aframax
- Rates for 100,000mt Baltic/UK Continent fell back three points to WS56 (a TCE of about minus $3.9k per day round trip).
- Across the Atlantic, the market has continued to climb with rates for 70,000mt Caribbean/US Gulf pushing up seven points to WS113 (a TCE of $8.4k per day round trip) and 70,000mt East Coast Mexico/US Gulf up eight points to WS123 (a round trip TCE of $13.2k per day).
- Rates for the 70,000 US Gulf/UK Continent trip have also risen, up five points to WS97.5 (a TCE of $6.1k per day round trip, and significantly higher for single trip economics).
-Clean
- The Middle East Gulf has been lacklustre this week putting pressure on a previously firming market. On the LR2s to Japan TC1 has dropped 7.5points to WS106.25, a round-trip TCE of $9,772/day.
- The LR1s saw some activity mid-week, but after the slow start and a build-up of tonnage rates have been retested down, TC5 55k Middle East Gulf / Japan is now in the WS112.5 region.
- On the MR’s, 35k Middle East Gulf / East Africa (TC17) also dropped 31 points to WS192, a round-trip TCE of $11,265/day.
