The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 29 May to 5 June 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 – Aframax
- In the Mediterranean, 80,000mt Ceyhan/Med is now at W70, down 11 points from a week ago.
- In Northern Europe, 80,000mt Cross North Sea is now WS76.5 representing a drop of 16 points, while 100,000mt Baltic/UKC is similarly down to WS57.5.
- Across the Atlantic, in the 70,000mt Carib/USG market, rates fell 14 points to low WS60s while for 70,000mt USG/UKC fixing levels collapsed 20+ points to mid WS50s.
Tankers – Clean
- Owners plying the 37,000mt UKC to USAC trade also had to contend with stiff competition and rates lost around 7.5 points here with the last seen being Repsol fixing at WS125 for North Spain loading.
- The 38,000mt backhaul trade from US Gulf to UKC provided the only crumbs of comfort for owners with rates steady throughout the week in the low WS90s.
- The 30,000mt clean cross-Med trade came under renewed downward pressure and eased from WS 146.25 to barely WS 140 region.
Bulk Carriers – Capesize
- At a paltry $3369 from the beginning of the week, the Capesize 5TC has lifted to $7307 with momentum continuing to build. Led by strong iron ore demand, the fronthaul long ton mile business has heeded the call.
- The transatlantic business, in contrast, continues to severely lag other regions, giving a strong indication of the continuing weak industrial output owing to Covid-19.
- The Pacific basin – and in particular iron ore from Western Australia to China – had strong activity for the second half of this week catching some by surprise.
Bulk Carriers – Panamax
- Kamsarmaxes were earning in the region of $12,750 plus $275,000 ballast bonus for an EC South America fronthaul.
- The Caravos Triumph (81,664 2012) reported fixed to Bunge basis mid-June dates, being a fair representation.
- From the US Gulf, the Twinkle Island (82,265 2012) was reportedly fixed to Norden basis delivery Immingham prompt dates, in the region of $12,500.
Bulk Carriers – Supramax/ Ultramax
- The Atlantic saw increased activity from key areas such as east coast south America and the US Gulf. A 63,000-dwt was fixed delivery Recalada trip to west coast south America at $13,000.
- From the Mediterranean, a 62,000-dwt was fixed delivery Izmir trip to west Africa in the low $7,000s. With demand for tonnage strong from the Indian Ocean, rates pushed further.
- Further east demand remained a 56,000-dwt fixing delivery Kosichang for a trip via Malaysia, redelivery south China, in the mid $8,000s and a 57.000-dwt open Dalian fixed a trip via Philippines redelivery China with nickel ore in the low $7,000s.
Bulk Carriers – Handysize
- The US Gulf route HS4 proved the exception, finally showing the first sign of improvement since end March. But the market still saw limited cargo from the Gulf, with a long tonnage list.
- In the East, the market further strengthened with a shortage of vessel supply in south east Asia. Stems from Australia and steels from east coast India lent support and pushed rates higher.
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.
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