A short week due to the Spring Bank holiday ended in a flurry of fixtures for west Australia to China. Possibly over 10 vessels being concluded yesterday pushed the level from under $5.00 last week to $5.15. Of the major iron ore players Rio Tinto were said to have fixed five vessels, BHP Billiton three and FMG two vessels. There was a rumour of FMG fixing the Newcastlemax Cape Kallia 203,027 dwt built 2012 for 12/15 June at $5.05, but no confirmed details on the cargo size.
The KEPCO tender for Gladstone to Samcheonpo for second half June was awarded to Polaris at $6.27, who were said to have fixed the Chin Shan 175,569 dwt built 2004 to cover the cargo, but it is not clear whether on voyage or t/c basis.
There was a little activity for Saldhana Bay to Qingdao with Anglo rumoured to have fixed a vessel at $8.20 for 10/12 June and the Cape Albatross 203,185 dwt built 2007 fixing at $8.00 with Oldendorff basis 190,000 10% cargo and possibly including an option for Tubarao loading at $11.00.
The Atlantic remains flat with brokers suggesting a weaker tone. Ilva fixed a Cosco TBN for their Tubarao to Taranto cargo at around $5.75 for 17/26 June.
There was talk that K-line fixed a vessel for Drummond to Rotterdam mid-June dates at around $5.25 level.
The Pantagruel 180,181 dwt built 2004 open spot in Greece was rumoured to have fixed delivery Gibraltar for a trip via USEC to the Far East with suggestion of a rate a shade under $13,000.
For Tubarao to Rotterdam the Sampaguita Dream 180,694 dwt built 2014 was said to have fixed $5.15 for 12/24 June with Cargill.
Whilst SwissMarine were rumoured to have fixed the Tenshu Maru 179,993 dwt built 2010 for Bolivar to Rotterdam, 18/22 June at $5.55.
The centre of attention this week has been front-haul activity from South America and with increased t/a enquiry from South America, the market looked to be holding steady. On the other hand, the north Continent remains weak with poor returns on offer. A 93,000 dwt post panamax type, open on the Continent, agreed $3,000 daily for a trip via the Baltic with redelivery back on the Continent.
In the South Atlantic, South America continues to attract tonnage from Asia – an 81,000 dwt kamsarmax agreed $8,250 daily plus a bonus of $220,000 delivery passing Cape of Good Hope trip via South America to the East. A 74,000 dwt also passing Cape of Good Hope fixed a similar trip at $7,000 daily plus $200,000 bb.
In addition another kamsarmax fixed a trip from Richards Bay to EC India at $6,000 daily plus $200,000 bb.
In the Pacific, rates remain at a low ebb, with Owners having to contend with levels in the low/mid $4,000s for Nopac rounds. A 76,000 dwt open north China agreed $4,500 daily for a Nopac round and a kamsarmax, open east coast India, fixed a trip via Australia to China at $4,000 daily. Indonesia continues to absorb tonnage albeit at modest levels. A 74,000 dwt, open China, agreed $4,750 daily for a trip via Indonesia to India and a 70,000 dwt built late 90s, open China fixed a trip via Indonesia to China in the low $3,000s
Some gains (albeit modest) were recorded on the US Gulf front-haul markets as reports surfaced of a nice 2014 built 61,000 dwt ultramax being fixed for a trip to China with petcoke at $13,350 daily. There was also talk as the week closed that a slightly better rate had been concluded on a similar vessel for a grain run to Japan. The UK-Cont market remained uninspiring with reports of a 2012 built 58,700 dwt ship being fixed delivery Teesport for a trip to Turkey with slabs at $9,000 daily.
In the East there were also some limited gains in the northern part of the region as reports emerged of a 2009 built 57,800 dwt vessel open spot in Kashima being fixed aps Nopac for a trip to Singapore-Japan at about $8,000 daily plus a ballast bonus of about $190,000. Nickel ore rounds were also being fixed at better levels with reports of 61,000 dwt ultramax open in Vietnam being fixed for a trip via the Philippines to China at just under $8,500 daily.
In the handysize sector a 28,000 tonner, open north Asia, was thought to be trading a steel run to South East Asia in the $6,000s and a similar vessel open Korea went for a long trip via the US west coast to the Arabian Gulf at $7,000 daily.
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