The Baltic Exchange has issued its reports for last week, 9-14 August 2020, to provide information of the bulk and dry 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 – Capesize
- The capesize market this week continued its range-bound trading as neither bulls nor bears managed to take a good hold of the situation. The Atlantic basin C8 and the Pacific Basin C10 remain largely unchanged on the previous week, trading in the $18,250 to $22,250 region.
- On voyage routes the Brazil to China C3 looked to have the wind in its sails early on in the week, before early September pricing bore the brunt of the excess ballasters arriving end August in Brazil.
- The Pacific C5 voyage took a dip mid-week on poor activity but revived to close the week out at $8.432 – a slight drop on last week.
Bulk – Panamax
- A solid performance from the panamax market this week, with all routes posting gains, driven by the Atlantic. The timecharter average climbed $2,015 to close at $16,415.
- The TA round voyage and north Atlantic fronthaul routes stood out in particular on a limited tonnage supply, with those willing to consider a fronthaul able to secure a decent premium. Kamsarmaxes were offered north of $30,000 whilst an LME was said to have been bid $26,000 basis delivery Gibraltar twice on Thursday.
Bulk – Supramax/Ultramax
- A 61,000-dwt was fixed from the Black Sea to South Africa at $20,100. Like the kamsarmax sector, better levels were seen from east coast south America for ultramax size with rumours that close to $15,000 plus $500,000 being covered for trips to the far east.
- Increased action from the Indian Ocean with supramax vessels fixing in the mid $12,000s plus $250,000 ballast bonus for trips from South Africa to China.
- Iron or shipments from India to China saw an ultramax fixing delivery east coast India at $17,000.
Bulk – Handysize
- On the period front, a 30,000-dwt delivery Haiti in early September was fixed for a minimum of four up to about a six month duration at $9,000 with redelivery within the Atlantic.
- A 32,000-dwt delivery west Africa was fixed for a petcoke trip via Spain to Bahrain at $11,200.
- Towards the end of the week, a 30,000-dwt was fixed to west coast central America for grain from the Mississippi River at $17,500. In the east, a 43,000-dwt overaged ship delivery South Korea was fixed via CIS for a trip to China at $8,000.
Tanker – VLCC
- 280,000mt Middle East Gulf to USG via the Cape/Cape routing remained in the very low WS20s while 270,000mt to China at WS33.
- In the Atlantic, 260,000mt West Africa to China is still being assessed at WS38 level. For the 270,000mt US Gulf to China trip, which saw a few deals concluded, continues to be assessed around $5.4m.
Tanker – Suezmax
- Rates for 135,000mt Black Sea/Med saw rates fall back five points to WS58 region while a similar slip was seen in the 130,000mt West Africa/UKContinent market to WS45.
- The 140,000mt Middle East Gulf to Med trade saw a minor reduction of about a point to WS21.5.
Tanker – Aframax
- In the Mediterranean market, owners regained some of the recent reductions, with rates improving by seven points to WS65 for 80,000mt Ceyhan/Med.
- In Northern Europe, rates for 80,000mt Cross-North Sea increased a further three points to about WS86, while 100,000mt Baltic/UKCont saw a similar positive effect to WS60.
Tanker – Clean
- Owners in the Middle East Gulf at last had the chance to make significant gains as volumes of enquiry increased somewhat, leading rates for 75,000mt to Japan to add around 22.5 points to WS77.5 region and with potential for further firming.
- Rates for 38,000mt to Europe gained 20 points to sit now at around WS112.5 level and Brazil discharge paying mid WS150s, in contrast to low WS130s at the start of the week.
- It was another uninspiring week for owners in the 30,000mt clean cross-Med trade with rates unable to gain any traction, remaining flat in the very low WS80S.
The full reports are available on Baltic Exchange’s website, under related category. Namely, the Baltic Exchange information is based on assessments made by a global panel of shipbrokers, covering voyage and timecharter rates for capesize, panamax, supramax and handysize bulk carriers; VLCC, aframax & MR tankers, LPG and LNG vessels as well as forward assessments, vessel values, market reports & fixtures and demolition values.
