Despite a reasonable volume of fixing there appeared no real urgency to fix ahead of the Christmas festivities and charterers were able to pick off tonnage with ease. Rio Tinto was the main player in the market and by the week’s close had secured tonnage at $3.95 (allegedly direct with the owner) for an end December 170,000 tonne 10% cargo from Dampier to Qingdao. A 181,000 dwt 2015 vessel fixed for Yosu delivery for an Australian round at $7,000 daily. Rates for Saldanha loaders went over $7.00 earlier in the week but an Anglo American-controlled vessel then fixed with Vitol at $6.90 for an end December-early January 170,000 tonne 10% cargo from Saldanha to Qingdao.
There was some marginal pressure for early ships to load Brazil as failing rates there curbed the number of ballasters. There was talk of a vessel agreeing near $10.00 for 20-25 December 170,000 tonne 10% cargo from Tubarao to Qingdao at near $10.00. Otherwise later dates were paying less.
North Atlantic activity remained limited with the Bolivar/Rotterdam dropping to the low $5.00s and timecharter rates for ships open Continent for transatlantic rounds at under $8,000 daily. Fronthaul trading was extremely limited with many suggesting timecharter rates for hovering around the mid to high $13,000 daily range.
Most of the adjectives have been used up to describe this market with rates still at very low levels with little sign of any change. There was a touch more pressure for early ships northwest Europe, but again little was reported fixed. However a 75,000 tonner fixed from La Corunna for a trip via the US Gulf to Brest at $4,000 daily. Fronthaul rates were barely hitting $7,000 daily and from the US Gulf to the East hovering around $9,000 daily plus a $90,000 bonus. South America was more active but rates have been decimated over the past couple of weeks with a 76,000 tonner recently fixed from east coast South America to the East at $6,000 daily plus a $100,000 bonus.
The East has been active and although rates appeared to have reached a bottom and owners were managing to secure dop this proved short lived with most owners anxious for cover over the holiday period. A 76,000 tonner open Port Dickson secured $4,000 daily for an Australia/China run but others have been fixing aps NoPac to the East at $4,000 daily plus a $100,000 bonus. Some very low rates were agreed for fertilizers from north China to India but given the age of the ships involved some might well end up being scrapped after the trip.
A 75,000 tonner open CJK allegedly fixed to move steels from China to the Mediterranean at $1,600 to $1,700 daily.
Another week quickly passed with very little seasonal cheer for owners, with some brokers luckily having a few Christmas parties, alleviating the pain of the dire rates paid.
One period fixture reported this week but the rate fell again dropping below $5,000 daily as the Sunbay 2008 built 56,842 dwt fixed delivery Ulsan for five to eight months at $4,900 daily.
The Baltic/Far East paid $7,700 per day on a 55,600 dwt vessel. A mid-sized 46,670 dwt fixed from the Black Sea to the eastern Mediterranean at $4,250 daily. Rumours circulated that a 63,000 tonner allegedly fixed Continent to the US Gulf about $3,000 daily.
A Tess 58 secured $9,000 daily for a trip from the US Gulf to the eastern Mediterranean while a similar sized accepted $10,750 daily from the US Gulf for trip to west coast south America.
The slightly smaller Ton Hil II, 56,047 dwt built 2014 concluded a trip delivery Mississippi River to Chittagong at $8,500 daily with a similar size going further east at $9,000 daily with redelivery Singapore-Japan.
A Vila Do Conde/UAE fixed at $9,000 with a 56,500 dwt ship. A Tess 58 accepted $8,000 daily plus a $30,000 ballast bonus for the trip east coast South America to southeast Asia. The Platon 2011 built 58,502 dwt achieved $6,000 daily for a trip from south Brazil trip to Egypt.
An ultramax concluded $6,250 daily delivery Singapore trip via Indonesia to China and the Spar Orion 1996 built 47,639 dwt fixed $4,500 daily for same business.
Although it seemed busier in the East little else was fully reported.
A seemingly busy week with a few more owners and charterers sharing information.
From the Continent/Baltic, brokers reported a 37,000 dwt at $7,500 delivery St Petersburg to Spanish Mediterranean. The Hannah 28,354 dwt accepted $7,500 daily for trip from
Tunisia with delivery Kaliningrad.
The St George 32,657 dwt 2009 built having fixed to Danish account delivery Canakkale trip via Black Sea redelivery Tunisia at $4,900 daily. The Western Fedora 37,452 dwt built 2012 fixed delivery in the Black Sea to Morocco at $4,250 daily. The Mykonos Bay 32,411 dwt built 2009 concluded US Gulf to west coast Central America at $7,500 daily.
A 33,000 dwt covered $4,500 daily delivery South Africa for a trip to Singapore-Japan.
A 28,287 dwt open Qingdao was said close to fixing 2-3 laden legs $4,500 redelivery north China, or $5,000 for Singapore-Japan. A 35,362 dwt was said to be almost fixed from China to the Persian Gulf at $6,000 daily.
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