The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 24-29 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
- The Middle East Gulf sector saw rates flat in the first half of the week, then progressive rises midweek with rates for 270,000mt to China jumping from WS50 to WS60 – and then mid WS60s.
- Rates for 280,000mt to USG via the cape/cape route are now assessed five points higher than a week ago at WS36.
- Rates for 270,000mt USG/China rates are now assessed at just over $6.5m, up about $750k.
Tankers – Suezmax
- Rates in this sector in the West remained flat as 130,000mt Nigeria/UKCont are still at WS72 and 135,000mt Black Sea/Med at WS73.
- In the 140,000mt Middle East/Med market, rates have eased a further 4 points and now rest around WS32.
Tankers – Aframax
- In the 80,000mt Ceyhan/Med route, rates slipped another eight points to WS80.
- In Northern Europe, 80,000mt Cross-North Sea lost another 15 points to WS92.5 and 100,000mt Baltic/UKC is now at WS75, 18 points lower than last week.
- Across the Atlantic, rates for 70,000mt Carib/USG were weakened by another 15 points to WS75. The market for 70,000mt USG/ARA is down around 13 points at WS72.5-75 level.
Tankers – Clean
- In the Middle East Gulf, rates for 75,000 mt to Japan hovered around WS115/120 region.
- In the 37,000mt, UKC to USAC trade saw a good volume of enquiry. Rates recovered from low WS100s to WS140, which was agreed by Exxon on Torm tonnage.
- Cargoes loading in the east Med were fixed as high as WS 172.5/175, with Black Sea load paying around WS185.
Bulk Carriers – Capesize
- The Capesize 5TC opened the week at $2,660 to close out at $2,445, while C3 Tubarao to Brazil opened at $13.575 closed down at $12.95.
- West Australia was quiet and spot market fixture activity opened the week at $5.75 closing at $5.595.
- The C10 Transpacific bucked the trend this week as demand for time-charter vessels lifted.
- The Transatlantic C8 didn’t fare so well as dwindling cargo options had most over offered. It now trades at $2,920 which is below the Pacific, the first time since mid-December.
Bulk Carriers – Panamax
- From east coast South America to the Far East, the median rate appeared at around $12,250+$225,000 ballast bonus at the start of the week and had increased to $13,300+$330,000 ballast bonus by the end.
- In Asia, trading was somewhat curtailed by the potential implications of Coronavirus. The NoPac round trip
- being agreed at $4,350 for 82,000dwt, whilst some owners were discounting rates for quick and repositioning trips with $6,500+$65,000 ballast bonus getting done for an Indonesia to China run.
Bulk Carriers – Supramax/ Ultramax
- Period activity was seen with a 55,000dwt vessel fixing delivery North China for one year at $6,500, for the first 40 days and $10,000 thereafter.
- The Mediterranean remained stable whilst the US Gulf was heard to have a little more enquiry as the week closed.
- The Indian Ocean saw slight improvement, with a 52,000dwt ship fixing at $7,000 delivery Arabian Gulf redelivery East Coast India.
Bulk Carriers – Handysize
- A 38,000dwt vessel, open Fortaleza 15 February was fixed basis north Brazil for a trip to west Mediterranean at $8,000.
- A mid-sized was failed on subjects basis passing Ushant for trip to China at mid high $8,000s with some waiting on the owner’s account.
- A 33,000-dwt was fixed from Canakkale for a trip with grain to Ireland at $3,500
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.