The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 8-12 February 2021, 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
- The Chinese Lunar New Year Holiday has kept this sector quiet this week. In the Middle East region, there was no shift in the assessment of 280,000mt to US Gulf via the Cape/Cape routing at WS18/18.5 level and the 270,000mt to China market is now rated at WS31.5.
- In the Atlantic arena, rates for west Africa to China slipped a point to WS32.5, while from US Gulf to China rates eased about $12,000 to $4.225m lump sum.
-Suezmax
- Black Sea/Med rates have settled at last week’s level between WS67.5 & 70 for 135,000mt, while the 130,000mt Nigeria/UK Continent market remains in the doldrums in the low WS50s.
- Basrah/Med fell back three points to about WS18-19 for 135,000mt.
-Aframax
- Baltic/UK-Continent moved up a point over last week to around WS57.5 level although again there is a firmer feel here with WS70 being reported on subjects to a major trader for 100,000mt.
- On the other side of the Atlantic, Owners have managed to claw back some of the recent point losses with 70,000mt Caribbean/US Gulf and 70,000mt US Gulf/UK Continent both rising six points to WS78.75 and WS77.5 respectively.
-Clean
- The backhaul trade of 38,000mt from US Gulf to UK-Continent has remained stagnant in the WS75 region and it is a similar story for cargoes to Brazil with rates largely unchanged at WS112.5.
- One area of optimism for the Owners is in the 30,000mt cross-Mediterranean trade with rates gaining 20 points to WS135/136 after a clear-out of tonnage.
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Bulk carriers
-Capesize
- The market was predictably quiet by the end of the week with many traders absent for the beginning of Chinese New Year. The Capesize 5TC registered a token drop of eight to settle at $10,304 as minimal trading was heard.
- The market had a fairly constant downward slide in values over the past week and yet the trans-Atlantic C8, which ended at $15,010 still trades at a significant premium to the trans-Pacific at $6,227.
- The West Australia to China ore route C5 settled the week at $5.827 while the Brazil to China C3 closed the week at $14.906.
-Panamax
- Some fixtures for Baltic trading, which includes breaching INL, were rumoured to have concluded at astonishing rates which have yet to be confirmed.
- For trips to the Far East, an 82000-dwt delivery Gibraltar achieved $33,000 via US Gulf redelivery China. In large parts of Asia, it was a shortened week.
- An 82,000-dwt vessel delivery Japan fixed $14,000 for a round trip via Australia, whilst an 81,000-dwt delivery North China agreed $14,250 for one years time charter.
-Ultramax/Supramax
- Despite the Chinese New Year celebrations taking place at the end of the week, the market remained in a positive trajectory with the BSI closing at 1,217.
- Period activity continued, with a 58,000-dwt open Indian Ocean fixing four to six months at $16,000 whilst from the Atlantic a 63,000-dwt open in the US Gulf was fixed for three to five months trading at $21,000.
- The Continent was stable, a 61,000-dwt fixing a scrap run to the Mediterranean at $18,000.
-Handysize
- A 37,000-dwt open in Houston in mid February was fixed for a trip to Cristobal at $17,500.
- A 38,000-dwt open in east coast Central America was fixed into the Black Sea at $19,500 and a 30,000-dwt open north coast South America was fixed for a trip to Indonesia over $20,000.
- In the east, the celebration of lunar New Year kicked off early in the middle of the week in various countries. There was limited activity reported but the relevant Pacific routes still showed positive movement.
- A 35,000-dwt was booked for four to six months at $10,250 with delivery in Guangzhou and worldwide redelivery.
