Tankers - Aframax

  • There were mixed fortunes in this sector, with rates for 80,000mt Ceyhan/Med falling steadily to WS110-112.5 level, down 20 points, with owners still trying to find the floor.
  • In North Western Europe rates for 80,000 Cross-North Sea were boosted by 15 points to WS115 and the 100,000mt Baltic/UKC route gained a modest 5 points.
  • Across the Atlantic, rates for 70,000mt Carib/USG climbed 15 points to WS145 level, and 70,000mt USG/ARA is up 10 points to WS135.

Tankers - Clean

  • Reverse gear was the name of the game this week as clean markets everywhere continued their dramatic falls.
  • In the Middle East Gulf, the rates almost halved with 75,000mt to Japan now assessed at barely WS200, having started the week at WS387.5.
  • In the 37,000mt UKC to USAC trade rates began the week at WS 167.5, peaking at just below WS170 before falling away to settle at WS150 region. The market in the 38,000mt backhaul trade from US Gulf to UKC was flooded with tonnage and rates fell 15 points to WS87.5.
  • The 30,000mt clean cross-Med trade continued its dramatic decline, with the market down 36.25 points at WS105 with charterers rather spoilt for choice here.

 

Bulk Carriers - Capesize

  • A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the week gave slim hopes that the market may recover faster than anticipated.
  • Market troubles have been well brewed this year. With a concoction of interrupted cargo supplies, vessels racing on cheap bunkers, weather events, and demand destruction amid the Covid-19 pandemic, the market is in need of a positive.
  • The iron ore stockpile situation in China has inventories dropping sharply, which will surely require tonnage.

Bulk Carriers - Panamax

  • Rates in the Atlantic came under severe pressure this week. Sizeable losses on the respective routes, with absent mineral demand and long tonnage counts alleviated by ballaster numbers from the East in recent weeks, only compounded a bleak situation.
  • Asia appeared to resist the negative sentiment emanating from other areas. There was a healthy volume of fresh enquiry and volume of fixtures, with the North Pacific seeing a steady flow of enquiry.
  • Minerals from Australia and Indonesia were the more dominant. End-week rates here were looking softer in most areas.

Bulk Carriers - Supramax/ Ultramax

  • With a few areas in the world slowly getting back to a ‘new normal’, demand on the Ultramax/Supramax size increased. However, this split into two main camps with the Atlantic overall still soft, whilst from Asia and the Indian Ocean activity levels and rates increased.
  • From the Atlantic, east coast South America lacked enquiry with Supramax being fixed in the $4,000s for transatlantic runs.
  • All Asian routes gained ground during the week, a 55,000 open Iligan fixing at $6,500 via Indonesia redelivery India.

Bulk Carriers - Handysize

  • The downward momentum in the Atlantic remained in all key areas. However, positive sentiment gained pace in the Pacific, with better rates discussed and more activity appearing in general.
  • A 37,000-dwt was fixed from Norfolk for a trip to the Continent/Baltic and a 33,000-dwt was fixed from Southwest Pass for a trip to east Mediterranean both at $2,500.
  • In the East, more logs cargoes from New Zealand lent support and put vessels in Southeast Asia in demand. A 33,000-dwt open spot in CJK was fixed at $3,500 for a trip to Southeast Asia.

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

Baltic Exchange: Maritime market highlights 27 April- 1 May

Baltic Exchange: Maritime market highlights 17-24 April