There was an upbeat end to the week with rates spiking sharply particularly in the Atlantic. The combination of firmer Brazil and West Australia rates gave a lift to the market.
There was talk that several cargoes were fixed from Tubarao to China in excess of $13.00 with two done at $13.25 and at least one on timecharter equating to $13.70. The Seattle Slew, 181,447-dwt 2010-built eta reportedly 8 October Tubarao, fixed retroactive Singapore for a Brazil/China run at $17,500 daily.
Fronthaul rates for ships delivery from north-west Europe improved with talk of mid/upper $20,000s agreed while transatlantic rates also firmed significantly with $6.70 fixed from Puerto Bolivar to Rotterdam.
In the East, the key West Australia/China run was said to have reached $5.60 for early October and likely to improve. Time charter rates too improved with a 180,000-tonner having fixed for an east coast Australian round with Japan delivery at $13,000 daily.
Saldanha rates too improved with a 1-10 October cargo booked form Saldanha to Qingdao at $8.65.
Paper values to some extent led the way for a panamax rate improvement: with apparently keener interest in taking period tonnage. Fairly average 73,000-tonners were seeing charterers reportedly bidding in the low $7,000 daily range for short period.
A 76,000-tonner open in China fixed a NoPac round at $6,000 daily mid week with owners then wanting significantly more for similar business.
In the Atlantic, trading from the US Gulf and east coast South America remained spasmodic with a kamsarmax fixed from the US Gulf to the East at $12,250 daily plus a $225,000 bonus. The 75,600-tonner was said to have fixed around the mid $8,000 daily plus a $325,000 bonus from Brazil to the East.
There was some increased interest for US east coast loaders and fewer prompt ships northwest Europe but so far evidence of any improvement in rates remained elusive.
Activity remains, although rates in both theatres are down with decreases on all index routes on a daily basis. The east coast South America market particularly slipped with the Four Kitakami 2009-built 55,668-dwt having covered basis delivery east coast South America redelivery Singapore-Japan at $10,250 daily plus $130,000 ballast bonus which was down on last week. From the US Gulf levels eased with the Santa Julia 55,701-dwt 2009-built having been fixed at around $15,250 for a trip to Singapore-Japan.
In the East rates eased with reports of a supramax covering at an easier $7,500 daily plus $160,000 ballast bonus.
Period information was at a premium this week with only talk of potential Persian Gulf deliveries with rates still around the $8,000/8,500 daily levels but there were brokers’ reports of a 57,334-dwt vessel accepting $7,250 for 2/3 laden legs with delivery in Sohar.
Again overall rates are down on last week. In the Atlantic Basin the general feeling from brokers was of easing rates with less activity from the Black Sea grain trade whilst the Continent remained unexciting. From east coast South America rates eased with the Emma Bulker 31,887-dwt 2010 built was fixed basis Recalada for a trip to West Africa at $9,000 daily plus $165,000 ballast bonus.
In the East there was again limited activity with rates easing. Brokers reported that a 32,000-dwt was fixed in the mid $5,000s for a trip from the Philippines to Taiwan.
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