A positive end to the week for capesizes as rates recovered after an earlier short lived dip in rates. Rates steadied and showed signs of moving up on key routes. The West Australia/China route appeared to closing out around $5.60 for 25 July onwards for 170,000 tonnes 10% steady though had reached $5.70 a couple of days ago. Timecharter rates agreed for Australian rounds hovered around $7,000 to $8,000 daily for older, smaller units and a $1,000 to $1,500 daily more for the larger sizes.
From Brazil there was some limited activity with a 20-30 July 170,000 tonne 10% cargo booked from Tubarao to Qingdao at $12.65. Further north a 150,000 tonne 10% cargo fixed for 17-26 July loading from Port Cartier to Qingdao at a touch under $16.50. Transatlantic business was limited, although a cargo went from Bolivar to Rotterdam at $6.75 while a 174,000-tonner was booked from Cadiz for a Brazil/Gijon run at $8,750 daily.
A strong week for panamax tonnage in the Atlantic with July tonnage in short supply both north and south. A 75,000 tonner fixed from Amsterdam for a Murmansk/Israel coal run and agreed $11,250 daily for redelivery Gibraltar with still a lengthy list of July-early August cargoes from the US Gulf, Baltic, Black Sea and South America to be fixed for destinations within the Atlantic. A post panamax open Cape Passero allegedly agreed $11,000 daily for one or two laden legs with redel Cape Passero. South American rates too improved with $12,500 daily plus a $250,000 bonus agreed from east coast South America to Continent options with a kamsarmax. Similar tonnage for trips east were fixing around the low $13,000 daily plus low $300,000 bonus.
In the East, rates too held despite limited activity for loading NoPac. India demand for coal played a large part combined with owners still prepared to look at South America loading. Rates for standard ships moving cargoes into India from Australia/Indonesia and fertilizers from China were in the low $7,000 daily range and possibly more depending on the ship. This activity prompted one charterer to take a 77,000 tonner from east coast India for a trip via West Australia to China at $7,000 daily.
A much better week for the supras in the Atlantic with longer duration front-haul business helping to shorten tonnage lists. In the US Gulf, a nice 2015 built 63,300 dwt ultramax was booked for a trip to Singapore-Japan at a firm $18,000 daily. Levels of enquiry from the south Atlantic were also encouraging for the owners, as reports emerged of a 2011 built 56,600 dwt ship being fixed delivery Gibraltar for a trip via east coast South America with redelivery Singapore-Japan at around $10,000 daily. On this side, some firm rates were also being paid out of the Black Sea where it was reported that a 2014 built 64,000 dwt unit giving delivery Otranto was fixed for a trip with grains via the Black Sea to the East at a good $13,500 daily.
Handysizes have also joined the party with rates appearing to pick up in the US Gulf. A 30,000 tonner went from Louisiana to Morocco with petcoke at $10,000 daily, South America also remain relatively firm for July with a distinct shortage of tonnage. A 32,000 dwt earlier in the week went from north Brazil for a trip to the East in the mid $13,000’s and a 30,000 tonner fixed from Brazil to west coast Central America at $12,500 daily.
By contrast, the markets in the East seemed to be very quiet. There was some activity in the Indian Ocean area where it was reported that a 2010 built 56,839 dwt ship open Kandla had been fixed for a trip via the Red Sea to east coast India at $7,400 daily. In the PG a 2015 built 63,600 dwt ultramax was fixed for 2 laden legs with redelivery Singapore-Japan at $7,800 daily.
For daily dry bulk assessments from the Baltic Exchange please visit www.balticexchange.com/market-information/