What a difference a week can make, with last week’s optimism waning. It seemed that the briefest pause in this market resulted in some jittery owners and operators conceding cents here and there. The West Australia/Qingdao dropped below $5.00 with Rio Tinto securing several ships at $4.90 and today $4.85 from Dampier to Qingdao for first half June dates.
BHP Billiton fixed slightly earlier dates this week and did fix at a low of $5.00.
Timecharter rates too were easier and a 176,000 tonner open South Korea reportedly agreed $5,500 daily for a round voyage.
Saldanha/Qingdao rates too dipped with levels nearer the mid $8.00 level than the upper $8.00 range. Anglo American booked a 177,000 tonner on a timecharter basis from Saldanha Bay to China at $8,000 daily plus a $500,000 bonus – a rate that was said to equate to just around $9.00.
Brazil rates also dropped, even with a late flurry of activity as the week closed out. Vale fixed a 170,000 tonne 10% cargo for 20-30 June shipment from Tubarao to Qingdao at $11.55.
Transatlantic rates too were easier although a 3 June onwards 150,000 tonne 10% coal cargo fixed from Puerto Bolivar to Rotterdam at $6.00. Timecharter rates too slid depending on the delivery, hovering around $5,000 daily, although a 179,000 tonner open Sines allegedly fixed at $5,850 daily for a Brazil round voyage.
Transatlantic trading was once again very slow with just a few short rounds reported fixed and a handful of coal cargoes on voyage basis showing very low returns. Short Baltic rounds were paying less than $6,000 daily while the US Gulf remained very slow, both transatlantic and fronthaul.
More ships open Skaw-Passero were considering the ballast to South America adding to ships still unfixed and coming from the East. An 81,600 tonner 2014 built agreed $9,750 daily and $97,500 bonus for 5-15 June delivery from east coast South America to the East. A 2013 built 75,800 tonner ballasting from the East reportedly agreed $8,000 daily and no bonus for a 1-5 June cargo from Ponta Da Madeira to Liverpool.
Asian traders saw rates largely remain flat with a generally active market, but with a still long list of ships charterers were largely able to achieve last done. Much of the activity focussed on coal from Indonesia and Australia with ships giving southeast Asia delivery seeing rates in the upper $5,000 daily range for quick rounds. An 82,000 tonner reportedly managed $7,000 daily for a Zhangjiang delivery for a trip from China with fertilisers to full India redelivery. NoPac grain cargoes remained in short supply and rates were generally hovering in the upper $4,000 daily range for standard panamaxes ships giving Japan delivery.
In the period trades, a kamsarmax open Zhoushan agreed around $6,000 or the low $6,000 daily range for four to eight months trading while a 14 year old 73,000 tonner open Japan fixed the same period at $5,700 daily.
Another unexciting week within the Atlantic basin. In the US Gulf, a 2001 built 52,404 dwt ‘Tess 52’ type was reportedly booked for a pet coke run to the east Mediterranean at a reasonable $11,500 daily. The South Atlantic markets continued to tick over as reports emerged of a 2006 built 55,700 dwt vessel being fixed delivery Recalada for a trip to Algeria at around $11,400 daily.
In the Pacific, the markets remained difficult for the owners. In the north, earlier in the week, a 2007 Japanese built 53,500 dwt unit was reported to have been fixed aps NoPac for a trip back to Singapore-Japan at $7,800 daily plus a ballast bonus of $180,000. In south east Asia levels have remained flat as even the usual coal runs to India continue to offer uninspiring returns. Nickel ore enquiry from the Philippines seemed to be on the increase as charterers endeavoured to cover cargos ahead of the upcoming rainy season. A 2012 built 58,000 dwt unit open Kwangyang was reported to have been fixed for a such a nickel ore round at $6,300 daily.
In the Atlantic, handys continue to find life an uphill struggle. The US Gulf remains poor as owners just about cover running costs – short haul trips are going around $6,000 daily. South America has tended to ease through the week, with a number of fixtures fixing and failing. A 32,000 dwt fixed from the Plate to the west Mediterranean at $8,300 daily and a 35,000 tonner agreed in the high $9,000’s for a trip Recalada to the East.
Handysizes remain flat in south east Asia, while in north Asia brokers report a slightly better tendency with reasonable demand for steels down to south east Asia. A 35,000 tonner open in the area of CJK fixed such a trip at $6,000 daily and another handy went for a trip from Korea to the Persian Gulf around $7,000 daily.
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