At the week’s end the various levels are all very similar to the beginning of the week, with the exception of the transatlantic round voyage, which jumped up over $6,500. The early part of the week saw west Australia rates go from $8.50 to $9.00 and by the end of the week back to a similar level, with Rio Tinto rumoured to have fixed yesterday at $8.55 for early December. Today there is talk that BHP Billiton might have fixed a Cargill Tbn at around $8.30 for 10/20 December dates, which is a little more forward.
Yesterday the Obelix 181,433 dwt built 2011 fixed delivery Rotterdam early December for a trans Atlantic round voyage at $31,000 with Eon and the Polymnia 175,800 dwt built 2011 in a similar position fixed $30,000 with Noble for the same trip. This resulted in the C8 route increasing dramatically yesterday by $3,750. There is still a lack of fresh front-haul cargo coming into the market.
Early tonnage open north Continent was reasonably tight as a few ships fixed transatlantic business. A mid-90s built 71,000 dwt fixed from Gibraltar for a round voyage via South America to the Mediterranean at $8,500 daily. In addition a kamsarmax fixed a round voyage via Norfolk to Croatia at $11,500 daily, a good level however the vessel is open in Aughinish, an attractive position for loading US East Coast. A 76,000 dwt obtained $10,000 daily for two laden legs trading in the Atlantic basis delivery Gibraltar. South America looked to be reasonably steady although brokers detect a negative sentiment going forward. A post panamax of 92,000 dwt in ballast from the Mediterranean was rumoured to have fixed a trip via Orinoco to the East – the rate remains under wraps.
Activity from the Pacific coast has been in evidence this week, with owners able to achieve five figures for a Nopac round. A 76,000 dwt in Korea secured $10,000 daily and a kamsarmax agreed $10,200 daily for a similar run. In addition a 75,200 dwt built 2001 also went for a Nopac round at $10,250 daily – the vessel was open north Japan, an advantageous position for loading on the Pacific coast.
A sharp change in sentiment in the middle of the week as reports surfaced of a 2003 built 50,400 dwt unit being fixed for a trip from the US Gulf to the Mediterranean at a significantly better $16,000 daily. In the South Atlantic it was also reported that a 57,000 dwt ‘Dolphin’ type had been fixed for a trip from Santos via the Red Sea to Port Said at about $12,750 daily.
There was also more encouragement for owners in the East as reports emerged of a 2008 built 58,000 dwt unit open Ningde being fixed for a trip via Indonesia to Tuticorin at an improved $11,550 daily.