The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 8-12 Nov 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.
- The Atlantic basin was the first region to wane, although the Transatlantic C8 still demands a premium over other routes at $37,005. With visibility on pricing difficult due to a lack of cargoes and fixing volume in general, several Charterers were able to take advantage fixing at unexpectedly sharp levels.
- The Pacific basin’s positive sentiment looked to be growing initially yet by the week’s end the market seemed quieter and levels looked to be weakening slightly.
- The Transpacific C10 closed down -300 to $33,471 while the voyage route West Australia to China C5 closed down -0.091 at $12.923.
- In the Atlantic, the short Baltic round trips proved mainly well supported with a host of fixtures concluded around the upper $20,000s/low $30,000s levels.
- However, aside from a small premium paid for early arrival dates ex EC South America, the longer duration trips remained under pressure all week with charterers seen retracting bids or even stepping back as some chased rates lower.
- Asia too saw further erosion in rates. This was despite some decent level of NoPac support and some Japanese tender cargoes, which gave some North positions a midweek boost.