The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 7-11 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
- Rates in this sector marginally improved then lost a little ground late in the week. In the Middle East 280,000mt to US Gulf via the Cape/Cape routing levelled at WS17.5, while 270,000mt to China rose a couple of points early on to nearly WS35 then eased to WS34 level.
- In the Atlantic, rates eased overall as demonstrated by 260,000mt West Africa to China.
-Suezmax
- Rates for 135,000mt Black Sea/Med firmed five points to WS55, while a similar increase was seen in the 130,000mt Nigeria/UK Continent market to WS42 level.
- In the Middle East market, 140,000mt Basrah/Med voyages are now assessed three points lower at WS15, likely guided by a recent reported fixture of the Neptune Moon to Repsol at this level.
-Aframax
- Rates for 80,000mt Ceyhan/Lavera remained static at around the WS57.5-60 mark. And, in Northern Europe, voyages of 80,000mt cross-North Sea are being rated 2.5 points lower than a week ago at WS72.
- Meanwhile, 100,000mt Baltic/UKContinent assessments were flat at WS45 level.
-Clean
- The Middle East Gulf/Japan trade saw a reversal of fortune for the owners in the latter part of the week, with rates for 75,000mt climbing from mid WS60s to just over WS80.
- However, the LR1s fared better with rates here pushing up about 27 points to WS110. The MR market remained flat with rates for 35,000mt AG/East Africa holding around mid WS170s.
Bulk carriers
-Capesize
- The Capesize market broke lower this week down to $10,295 on the 5TC taking it out of its recent range. After a positive end to the week the 5TC now resides at $11,889.
- The Transatlantic C8 at $13,440 and the Transpacific C10 at $13,979 spread narrowed greatly by mid-week while the China-Brazil C14 continues to lag at a much lower $8,373. As talk of higher bids – and possibly higher fixtures – were rumoured on the Brazil to China C3 the route closed up +73 cents to price at $13.065.
-Panamax
- A firm week in the Panamax market yielding solid rate gains for the owners. The North Atlantic, for the most part, was driven by the quick Baltic rounds with premium rates well in excess of $20,000 being concluded several times.
- A $17,000 figure being the headline rate on a nicely described 82,000-dwt for an Indonesia to China run, whilst $13,000 emerged as the median rate for NoPac round trips as the immediate firm outlook continued to find support.
-Ultramax/Supramax
- The Supramax market witnessed something approaching a minor renaissance this week, with some brokers suggesting a tightening supply/demand dynamic, predominantly from the Continent, Black Sea and the US Gulf.
- The US Gulf fronthaul route proved to be a main beneficiary, gaining $400 on the week to close at $22,883. The African Flamingo (2018 63,926) was instructive – fixing to WBC for at $25,250 delivery APS for an early January position.
- The Pacific also remained active on Indonesia-China coal volumes, with the Kennadi (63,262 2016) securing $10,500 basis delivery CJK for a round.
-Handysize
- A 37,000-dwt delivery Imbituba was fixed for a trip via Plate to north Brazil at $14,000. A similar-sized vessel was fixed from Barranquilla for a trip to Tunisia at $15,000.
- In the Pacific, south east Asia and Australia region was described to be to be firm. Early in the week, an Imabari 28 open north China was fixed at $8,000 for two to three laden legs.
- A 34,000-dwt open Chittagong spot was fixed for an Australia round voyage in the mid $8,000s.
See also:
Baltic Exchange: Maritime market highlights 30 Nov – 4 Dec
Baltic Exchange: Maritime market highlights 23-27 Nov
