The market started on a weak tone which pushed through the week as excess tonnage built up. With more than 20 vessels fixing for west Australia to China the rates dropped over $1 from last week with a report yesterday that a Panocean vessel has fixed $4.25. Today the sentiment is better with brokers talking of bids around $4.50 level, which is almost where the route published today. There is talk of the Maria A Angeliccousis open Singapore 30/31 August fixing Port Hedland/Qingdao around $4.65 level with NYK, but this has not been confirmed yet.
For Tubarao/China the rates dropped over $2 from last week to under $10, but this is also showing signs of improvement with a rumour that NYK fixed the Kiran Turkiye at $10.00 for 20/30 September dates. As we approach a national holiday in London for Monday, owners are aiming for better levels in the Pacific and the Atlantic has shown a similar pattern but the activity has been considerably less. However owners are still hopeful of better rates as there are still a number of mid/end September cargoes that need covering.
Not a lot of change this week, the sentiment according to brokers is slightly off as charterers are bidding less than earlier in the week. The South America market is relatively flat with fewer fixtures reported towards the end of the week which started the week at around $13,500 + $350,000 level for trips to the Far East.
In the Pacific the Red Rose fixed with Marubeni delivery Onahama for a Nopac roundvoyage at $8,500, which brokers consider to be a good rate for the 76,600 dwt vessel. The Galateia 81,359 dwt built 2011 open in Chiwan end August fixed for a trip to east coast India via east coast Australia at $6,250 with redelivery Singapore and the Huayang Legend 76,945 dwt blt 2003 fixed delivery Lanshan 28/31 August also for trip via east coast Australia but re-delivery east coast India at $7,500 with Guodian. SAIL have fixed a vessel for 75,000 10% coal loading Dalrymple Bay to Vizagapatnam 12/21 September at $9.95 and are said to have another vessel on subject for later dates at $10.00.
Still an active market but some drops this week on the Index.
Period volume about the same with reports a 61,000 dwt vessel fixing 4/6 months from the Far East at $9,250 levels. While a Tess 58 rumoured to be fixing short period in the mid/high 8000s for an enquiry ex Nopac 20th September. Another Tess 58 fixed delivery Singapore for 10/15 months at $6,000 first 30 days $8,100 for 11 months and $8,500 for the balance period. In the Middle East the Akili 2001 built 52,301 dwt concluded a month’s charter at $8,250 per day. The Thor Fortune 54,123 dwt 2011 built reported for a 4/6 months with delivery US Gulf at $13,500 daily.
In the Atlantic US Gulf tonnage faring the best with top rates being paid. A 57,000 dwt fixed for a trip to east Mediterranean at $19,000 daily and a 61,000 dwt achieved a trip to Japan at $21,000. A 56,000 dwt went at $22,000 basis India at $22,000 and 58,761 dwt taking a petcoke cargo to the Continent at $19,000 daily. For slightly longer a Chinese owned 52,828 dwt vessel reported to have covered 2/3 laden legs redelivery worldwide at $15,000 daily.
The east coast South America market saw a few fixtures with one 64,000 dwt ship fixing to east Mediterranean at about $18,000 to Ultrabulk. A 50,341 dwt Sea Lavender fixing from north Brazil to Algeria at $13,800 daily. In the Far East there was talk of various vessels in the region of 57,000 deadweight fixing. One went for Nopac to the Far East at $7,750 plus $200,000 ballast bonus.
Another concluding Indonesia/India coal run at $7,600 daily. One at $7,150 for China to Vietnam. The Sunny Horizon 57,000 dwt built 2011 fixed China to west coast India/PG at $8,500 daily. There were unconfirmed reports of a 58,000 dwt supramax fixing back haul north China to US Gulf at under $3,000.
The index overall still moving upwards for all of the Atlantic routes.
A 38,200 tonner concluded trip from Continent to South Africa at $12,000. The Lavieen Rose 2014 built 33,398 dwt fixed Santos to Morocco at $17,500. Rumours that two Brazil coastal runs at $13,000 and $14,000 are still unconfirmed.
Clipper is alleged to have fixed a 34,348 dwt vessel for delivery Canakkale trip via Black Sea to Spain at $10,000 daily while Lauritzen paid $9,500 for the same business on a 33,788 dwt vessel.
In the Far East reports of a 33,500 dwt ship securing a two year charter at $7,000 daily remain sketchy.
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