A stalled week for the big ships with signs the market was set to firm but not in essence fulfilled. A more active Brazil market combined with increased volume from West Australia resulted in some gains but as the week closed out the market faltered. Rates for 170,000 tonne 10% cargoes from West Australia to China recovered and held over $5.00 but failed to move beyond $5.25 and then slipped to $5.10. Brazil rates were firmer and Vale came into the market mid-week and mopped up several ships for first half November from Tubarao to Qingdao fixing at $12.43 – Wednesday’s BCI C3 assessment. Today saw the charterer fix early November cargoes around $12.00. Timecharter rates also improved with a 171,000 tonner booked mid-week from Caofeidian for a trip via Brazil to China $11,500 daily. Timecharter rates in the East hovered around the mid $10,000 daily range for 180,000 tonners.
North Atlantic rates recovered with some suggesting there could be further improvement but others still listing more ships than cargoes. NYK booked a 12-20 November 170,000 tonne 10% cargo to Rotterdam at around $6.15 although E.ON allegedly took a ship for a 3-12 November 160,000 tonne 10% cargo from Drummond to Rotterdam at $5.65.
In the Atlantic there was a touch more business quoted as the week drew to a close, but so far this has not translated into improved rates. The US Gulf/China run remained essentially slow with rates for modern tonnage hovering around $12,500 daily plus a $250,000 bonus. An overaged 72,000 tonner was reported fixed from the US Gulf to China at something under $12,000 daily and under $200,000 bonus.
Transatlantic activity has been limited although a 75,600-tonner fixed from Jorf Lasfar for a north Brazil round at $6,000 daily.
South America was more active this week but charterers were still able to secure ballasters from the East and the Indian Ocean-Persian Gulf area at low numbers with most booking ships basis Cape of Good Hope delivery for trips to the East. A kamsarmax giving 30 October delivery at the Cape agreeing $7,350 daily plus a $235,000 bonus.
There was fresh business for forward dates from the NoPac but spot ships on the east struggled to maintain last done. Rates for prompt ships for NoPac rounds were more like the mid to upper $5,000 daily range depending on delivery and ships willing to go to India were seeing rates in the low $6,000s daily.
Still a bit of activity but with the amount of vessels on the market brokers said there remained a lacklustre feel reflected in the minimal movement for the Baltic Supramax Index and the Baltic Handysize Index this week.
Period activity remained relatively slow this week, a few deals being concluded under the radar but it was reported that the CP Guangzhou 2015 built 63,608 dwt went for 9 to 12 months trading with redelivery worldwide at $7,500 daily.
Little activity from the Continent this week with reports of a 48,000 dwt being covered at $8,000 daily region for a trip from north Spain to West Africa. Still slow from the Black Sea although the Miletus 2009 built 58,729 dwt was fixed basis delivery Marmara for a trip via Black Sea redelivery Singapore-Japan at $11,000 daily.
A bit of activity from east coast South America where a 61,000 dwt vessel was being concluded basis with redelivery Singapore-Japan at around $11,000 daily plus around $130,000 ballast bonus.
Within the East activity remained steady and the Yasa Kaptan Erbil 2010 built 56,169 dwt having concluded basis delivery Singapore prompt for a trip via Indonesia to east coast India at $6,600 daily. From the north Pacific the TR Niklas 2014 built 63,800 dwt went to Norden at $8,000 daily plus $190,000 gross ballast bonus delivery with Philippines.
Unsurprisingly this market remained tight lipped brokers said. The Eden Bay 2008 built 28,342 dwt fixed at a standard $8,000 basis delivery Recalada for a trip to West Africa with Western Bulk Carriers with 38,000 dwt vessels being concluded at around the $8,000s for trips from east coast South America to Mediterranean region. A healthy $9,500 was reported for the Budva 2014 built 35,000 dwt basis delivery Skaw for a trip with lumber via the Baltic and redelivery east Mediterranean, with this also including Israel.
In the East, brokers advise of a less healthy feel this week with little activity. The Newlead Albion 32,000 dwt 2012 built open Haldia was concluded at $5,500 daily for two laden legs redelivery Singapore-Japan range.
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