Early this week the market started with a slightly softer tone of minimal drops and has finished with only the Atlantic showing any slight improvement. The benchmark C3 Brazil/China fell almost 50 cents to a shade under $10.25 and on the C5 west Australia/China it has hovered around $4.95 level all week, a rate that was said to have been fixed on several vessels in the last 2 days by BHP Billiton, Rio Tinto & FMG. The Robusto 175,000 dwt built 2006 classic vessel was rumoured to have fixed Seven Islands to Qingdao for early July dates at $11.85 with Rio Tinto. Oldendorff tonnage fixed Tubarao/Rotterdam for 1/15 July at $5.25 with TKS earlier in the week.
Timecharter fixtures have been less visible, the Swissmarine vessel Cologny 180,643 dwt built 2011 fixed delivery Yuzhny for prompt dates for a trip to Singapore-Japan at $16,500 with Aquavita, whilst the Mineral Kyoto 180,310 dwt built 2004 fixed delivery Gibraltar 13 June for a trans-Atlantic round voyage at $6,500.
Rates have improved significantly from last week with fewer ballasters available and additional cargoes needing to be covered. Tightness in South America has led to better levels for both Atlantic and Far East destinations, like the Silver Navigator 80,311 dwt built 2011 delivery passing Cape of Good Hope for a trip to the Far East at $8,500 + $275,000. There was talk of a kamsarmax seeing a rate close to $8,000 basis delivery Singapore for an EC South American round voyage to the Far East, but this has not been confirmed. The Lowlands Kamsar 82,206 dwt built 2010 was fixed delivery Bordeaux prompt for a trip via EC South America to the Far East at $11,500 if minerals with an option at $11,750 if grains.
With tonnage open in south east Asia catching the attention of the south American charterers the levels improved in the Pacific as well, like the Pictor 76,598 dwt built 2002 which was rumoured to have fixed delivery Zhoushan mid-June for grains via Australia to Singapore-Japan at $6,200.
In the Atlantic, significantly better rates were being seen from the US-Gulf area. A number of vessels were thought to be on subs or ‘closely working’ as the week closed, but earlier in the week it was reported that a 2014 built 56,600 dwt ship had been fixed for a trip from the US Gulf to Finland at $12,000 daily. Rates to the East from the US Gulf were also said to be pushing with a suggestion of rates up to the mid-teens or possibly even better being discussed. There was also a firmer feeling to the south Atlantic markets as reports emerged of a 2011 built 56,800 dwt ‘Dolphin’ type being fixed delivery Recalada for a trip to Singapore-Japan at a better $10,500 daily plus a ballast bonus of $160,000. Handysize vessels were being snapped up for east coast South America coastwise business where it was reported that a 2011 built 33,500 dwt ship was fixed delivery Recalada for a trip to north coast South America at $7,000 daily.
In the East, the south-east Asia markets also showed signs of improvement with reports of a 2010 built 57,000 dwt ship open spot Singapore being booked for a trip via Indonesia with redelivery east coast India at $9,000 daily. There were also indications of renewed period interest from some charterers. A nice 2015 built 63,200 dwt vessel was reportedly fixed delivery CJK for 4/6 months trading at $8,500 daily. As far as the handysize was concerned, a 2011 built 32,300 dwt vessel open CJK was reported to have been fixed for a trip via Japan to Australia at $7,500 daily.
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