With various national holidays in Asia the end of the week has been very quiet indeed. During the week the 5 TC average lost about 13% value, more because of weaker Atlantic rates. Brazil to China rates are still in the low $10s and the west Australia to China ore rates have remained around mid/low $4s.
The Else 174,989 dwt 2012 built fixed delivery Cape Town spot for a trip via Brazil or Trinidad to the East at $8,500 daily plus a $350,000 bonus with Oldendorff.
Meantime the Oldendorff re-let E.R. Bayern 178,978-dwt 2010-built went to EdF from Gibraltar spot for a Colombian round at $5,900 daily.
Diana Shipping fixed two of their fleet for period to Rio Tinto, with the Semirio 176,261 dwt built 2007 open CJK 19/26 February fixing 12-16 months at $10,000 and the Sideris GS 174,186 dwt built 2006 open Fangcheng 20/24 February fixing 10-14 months also at $10,000 daily.
The Atlantic has been slow through the week although there has been trading from South America which continues to take tonnage from the Indian Ocean. A 79,000 dwt in ballast from EC India secured delivery retroactive for a trip via South America redelivery east around $7,000 daily. A 76,000 dwt went from the Plate to the East at $11,500 daily plus a bonus of $157,500. In addition a similar size spot off Brazil, having ballasted from India is believed to have gone for Brazil/Continent. There has been little activity for short trips in the North Atlantic, not helping early ships open on the Continent.
Earlier in the week some activity was seen in the East in the run up to the holidays. A 76,000 dwt, open Korea, fixed a round voyage via Nopac at $4,500 daily and a late 90s built 72,000 tonner, open China, was reported to have fixed a round via Australia at $4,000 daily. In addition an 2004 built 75,000 dwt, open north China, obtained $5,000 daily for a trip via China to east coast India.
Without getting too carried away, there appeared to be one or two rays of light in the North Atlantic, and the market in this area looked to have ‘bottomed out’ at least for the time being. A 2004 built 56,000 dwt ‘Mitsui’ type was reported to have been fixed for a trip from the US Gulf to Singapore-Japan at a better $11,000 daily. There was also talk of improved rates being discussed for tonnage open on the UK-Cont but very little emerged as far as reported business was concerned.
Handysizes continue to struggle across the board, a four year old 33,000 tonner earlier in the week fixed a trip from the US Gulf to Morocco at $6,000 daily and from South America there was talk a 28,000 dwt went from the Plate to the Mediterranean in the mid $5,000s. The Continent however does appear to be a bit tighter with talk of better numbers paid. A 37,000 tonner gave delivery WCUK for a trip to the Mediterranean in the low $8,000’s, the vessel is ballasting from Morocco.
In the East, the extensive public holidays had the expected effect of slowing even further a market that was already under pressure. Earlier in the week, a 2014 built 58,000 dwt ‘Tess 58’ type was reported to have been booked delivery Nopac early March for a trip to the Philippines at about $7,000 daily plus a ballast bonus of about $70,000. Little to report on the handysize front, leaving spot/prompt vessels hoping for more activity following the holidays.
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