There was some upwards pressure for transatlantic rates and on the key Puerto Bolivar/Rotterdam coal run rates were being fixed around the $5.50 level.
There was limited timecharter activity and fronthaul rates reported were still not much more than the low to mid $10,000 daily range.
Vale was the most active from Brazil taking five to six ships in the past few days and talk of three to four earlier in the week. The rates agreed were basis the BCI C3 which settled at $9.915 on Thursday and $10.006 today.
TKS fixed the Shagang First Power 179,527 dwt blt 2011 for 170,000 10% ore from Seven Islands to Rotterdam, 25 April/9 May dates at $4.50.
In the East Rio Tinto was the more active charterer as the week closed out with the 170,000 tonne 10% rate from Dampier to Qingdao at $4.45 for 29 April onwards. Timecharter activity was limited. Vale fixed a couple of vessels for Subic Bay to Qingdao for similar dates around 20/23 April, paying an Oldendorff Newcastlemax around $2.10 and the Global Talent 179,407 dwt built 2012 around $2.30.
South America has driven the market this week lending some support to the Atlantic and the East. Levels have improved on aps basis from east coast South America to the East with good kamsarmax rates hovering around the mid $12,000 daily range and $250,000 bonus. In the US Gulf rates have improved with a 76,500 tonner in ballast from Gibraltar for aps US Gulf 25-30 April for a trip to the East at $17,000 daily. Transatlantic activity remained limited although owners were battling for firmer numbers and some suggesting that a standard panamax fixing for ‘standard’ transatlantic round was at $5,000 daily, but little has been reported fixed.
In the East, the market remained very positional with charterers easily able to secure aps for cargoes from Indonesia and Australia with rates little more than $4,500 daily and $40,000 bb for trips from Indonesia to India and these for the bigger types. NoPac rounds were largely holding but the market needed more cargo. A 75,000-tonner agreed $5,250 daily from CJK for a NoPac round.
A fairly uninspiring week for supramaxs with rates in most areas just about holding at ‘last done’. In the Atlantic there was a reasonable amount of fresh cargo however the supply of tonnage was sufficient to keep a lid on rates. In the US Gulf there was talk that a 2014 built 63,000 dwt Ultramax had been booked for a trip to South Korea at about $12,250 daily. In the South Atlantic, it was reported that a further 63,000 dwt Ultramax having ballasted from Chittagong was reported to have been fixed delivery Recalada for a trip to Italy at about $14,750 daily.
A slow week in the East and although there was said to be more enquiry in the north Pacific area, if any business had in fact been concluded, the details remained under wraps. There was some steel business to be fixed however and earlier in the week, a 2004 built 53,500 dwt ‘Diamond’ type was reported to have been fixed delivery Inchon for a trip to Tampico-Tampa range at $3,750 daily for the first 65 days and $8,500 daily for the balance.
The handysizes also had a fairly lacklustre week, although on the Continent, a 2003 built 32,000 dwt vessel was reportedly fixed for a trip with logs to the central Mediterranean at a reasonable $9,300 daily. Further south, a 2010 built 35,000 dwt unit was thought to have been fixed for a short period at around $6,500 daily or possibly a tic higher.
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