The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 17-22 May 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.
Tankers – VLCC
- In the Middle East Gulf, rates for 270,000mt to China softened about eight points to WS50 level and for 280,000mt to USG via the cape/cape route rates are now assessed at low WS30s – three points lower than a week ago.
- In west Africa, rates fell a modest four points to WS52.5 level. In the Gulf of Mexico, a few deals were seen with each one slightly lower than the next.
- For 270,000mt USG/China rates are assessed at just under $5.9m, down from $6.1m a week ago, although there is a report today of Occidental fixing at $5.75m.
Tankers – Suezmax
- Rates in this sector in the West are now about 12% lower than a week ago, with 130,000mt Nigeria/UKCont rated at WS72, and 135,000mt Black Sea/Med at WS76.5.
- In the Middle East rates have eased slightly with 140,000mt to the Med down about 3 points at the WS37 mark.
Tankers – Aframax
- In the 80,000mt Ceyhan/Med route, rates slipped a further nine points to high WS80s while in Northern Europe, 80,000mt Cross-North Sea is now about 10 points lower than a week ago at WS111.
- For 100,000mt Baltic/UKC, rates here remained flat at WS95-97.5 level.
- Across the Atlantic, rates for 70,000mt Carib/USG rated at WS90 and 70,000mt USG/ARA is down to W88.
Tankers – Clean
- In the Middle East Gulf, 75,000mt to Japan has now been fixed at WS120 – representing a loss of over 50 points from the assessment at the start of the week.
- In the 37,000mt UKC to USAC trade rates began the week just below WS130 and WS105 has now been agreed.
- The 30,000mt clean cross-Med trade provided the only modest encouragement for owners here with rates regaining some lost as they recovered to mid WS 130 representing an improvement of 20 points over this week.
Bulk Carriers – Capesize
- The Capesize 5TC has more than doubled since last Friday and is now pricing at $4140 on the back of owners baulking at recent unreasonable lows.
- A small boost of cargo has helped to keep the fronthaul route ticking over settling the week up +495 to $14730.
- The C5, being very sensitive to bunker levels, increased from $3.941 on Friday to a high of $4.782 before being down today to $4.541.
Bulk Carriers – Panamax
- The Atlantic Panamax market this week yielded little joy for owners, despite improved fixing activity during the second half of the week.
- By contrast, in Asia, the market here fared better and started strongly with healthy demand seen particularly from Indonesia and the NoPac.
- Mineral from Australia joining the party as the week drew to a close, NoPac and Australian rounds regularly featured around the $7,000 mark and with support emanating from ECSA there was an improved – albeit small – amount of optimism in the pacific basin.
Bulk Carriers – Supramax/ Ultramax
- From the Mediterranean, a 56,000 was fixed delivery Turkey for a grain’s run to China at $12,000.
- The Indian Ocean remained firm with strong demand for vessels an Ultramax fixing delivery east coast India for a trip to China at $9,000 plus $150,000 bonus.
- Further east a 63,000 fixed delivery Vietnam trip via Indonesia redelivery Kosichang at $8,500.
Bulk Carriers – Handysize
- A 28,000-dwt was fixed from Recalada for a trip to east Mediterranean at $6,000 and a 35,000-dwt open Alexandria 28 May was fixed for a trip to the US Gulf at $4,000 for the first 40 days and $6,000 thereafter.
- In the east, positive sentiment lended support with the Pacific routes indices further climbing.
- A 32,000-dwt was fixed from north Vietnam for a clinker trip to China at $4,000.
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.
See also
Batlic Exchange: Maritime market highlights 8-15 May
Baltic Exchange: Maritime market highlights 27 April- 1 May
