A market under pressure with rates falling in all areas. As the week closed out, the West Australia/China run saw sharp drops in rates with an 11 December onwards cargo fixed at $7.60. Timecharter rates slid too, with a 174,000 tonner booked from Huanghua for an Australian round at $15,000 daily.
In the Atlantic the key Tubarao/China saw sharp cuts with mid December 170,000 tonne 10% cargo fixed a touch under $18.00. Transatlantic activity was limited and rates here were significantly lower. Earlier this week a 180,000 tonner fixed under $23,000 daily and now sources suggest that today’s rate was more likely to be in the upper teens. A 181,000 tonner fixed at $31,000 daily at the end of last week.
Atlantic rates improved as the week closed out with tonnage tight for ships to make first half December in the US Gulf and a shortage of prompt ships in northwest Europe. Rates for cargoes from the US Gulf to the East improved and a 76,000 tonner coming from Gibraltar was said to have already seen $15,500 daily and $550,000 bonus. Transatlantic rates too improved with talk a 76,500 tonner fixed from Ijmuiden for a US Gulf round at $10,750 daily. However the number of new cargoes coming into the market was slow and going forward sustained enquiry was needed to maintain the momentum.
In the East, owners were now chasing cargoes with charterers seemingly in no rush to fix. A kamsarmax open Fukuyama fixed for a Seattle/China cargo at just $9,000 daily. Demand from Indonesia and Australia to move coal to India and delays in Indian ports kept levels at a premium here, but there are now more ships ballasting from east coast India to Singapore adding to the pressure.
Strong numbers in the US Gulf, where early vessels are in short supply. Earlier in the week a 56,000 dwt built 2001 achieved $18,500 daily for a trip from the Gulf to India and later a three year old similar size fixed a similar trip at $20,000 daily. Handys aren’t doing too badly either: early in the week a 35,000 tonner went from the US east coast to the Baltic around $9,500 daily. A 37,000 dwt built this year fixed at $13,750 daily for a trip from US Gulf to WC South America.
Enquiry from South America also picked up for supras: a 56,000 dwt, ballasting from West Africa, went from Brazil to SE Asia at $12,500 daily plus a bonus of $250,000.
Levels in the East are decidedly stronger where the market has been bolstered by more enquiry from the Pacific coast and also in Indonesia. Ships coming open Korea-Japan area have been fixing in the low $10,000s for Pacific rounds, including a 58,000 dwt, open Korea, securing $10,500 daily for a NoPac round voyage. An 11 year old 53,000 tonner, open north China, obtained $12,000 daily for a trip with steels via Korea/Japan to WC India/Pakistan.
Reports of short period trades have emerged with a 55,000 dwt built 2010 open China fixed 2/4 months at $10,250 daily and an ultramax type of 61,000 dwt allegedly went for short period at $11,000 daily.
Handysizes in Asia have been starved of information, as activity once again is kept firmly under wraps. However reports surfaced of a 32,000 tonner open in the Shanghai area agreeing $8,500 daily for a trip to south east Asia.