Very little change for the big ships with rates still at historically low levels. Over the week rates slipped on some routes but as the week closed out there were slight improvement on some routes.
A few cents more was agreed for West Australia/China cargoes with $2.90 paid for a 9 March onwards 170,000 tonne 10% cargo and $2.85 for 10 March onwards. Vale fixed a 170,000 tonne 10% cargo from Teluk Rubiah to Qingdao at $2.70 – up from the last done $2.45.
Timecharter rates remained in the doldrums with a 171,000 tonner open Xingang fixing at $2,000 daily for an Australian round although a 2016 built 180,000-tonner earlier agreed $5,500 daily from Cigading for a West Australian round at $5,500 daily.
There has been active trading from Brazil to China but little movement here in rates with a 15-25 March 160,000 tonne 10% cargo fixed from Tubarao to Qingdao at $5.50. TKS booked tonnage for a 15-29 March 160,000 tonne 10% cargo from Tubarao to Qingdao at $2.99.
South America remained the focus for the market determining rates both in the Atlantic and the East. Added to this, significant delays in Brazil were keeping ships off the market longer. Rates here for good LMEs or kamsarmaxes hovered in the low $6,000s daily and bonuses in the low $100,000s for aps delivery. In the north an 82,000 tonner, as a replacement for a ship running late, fixed for a trip from Corpus Christi to China at $8,000 daily plus a $100,000 bonus.
In the East rates were largely steady with charterers conceding dop as ships consider the ballast to South America. Norden fixed a kamsarmax for Bayuquan delivery for a Nopac round at $4,000 daily while a 2014 built 77,000 tonner fixed from Kaohsiung via Indonesia to Hong Kong at the same rate.
Under the circumstances, it was a good week for supramax and ultramax markets rates up on the last done and index routes up on a daily basis. Brokers remained uncertain how long this would last but sentiment was positive and driving the market.
There was very little to talk about on period but it seemed if anything was being discussed rates were still below $5,000 daily for ultramax sizes.
The Atlantic had a busy week with a variation of new requirements. Sources suggested scrap was moving on a Tess 58 from the Continent to the East Mediterranean at around $6,000 with rumours more ships had been fixed. A Dolphin 57,000 dwt covered delivery Canakkale trip Far East at $5,500 daily while Black Sea to the US Gulf was paying around the $1,000 daily. A Tess 58 was linked to a movement from Black Sea to West Africa in the mid $2,000s.
The fixture of the week was the Star Aquarius 60,916 dwt built 2015 delivery US Gulf trip Singapore-Japan at $9,500 daily.
A smaller 53,000 dwt was said to have fixed the same run at something in the mid $7,000s. Trips from the US Gulf to Continent were paying around $6,000 daily. An ultramax 63,200 dwt fixed from Halifax to east Mediterranean at $8,250 per day.
Sugar from Santos was moved on a 55,000 dwt 2009 built vessel at $5,150 daily for trip to Lagos. East coast South America to south east Asia was paying $6,000 daily plus $60,000 ballast bonus and a trip to Dammam failed at $7,000 plus $70,000 ballast bonus. A 55,705 dwt covered to Continent at $4,000 daily and trips Black Sea paid $5,300 daily. More orders were still on the market to be fixed.
A rare couple of reports from South Africa emerged of the Konkar Theodoros 61,000 dwt built 2015 delivery Richards Bay trip to full India with coal at $7,250 per day and a similar sized accepted $7,000 daily to west coast India.
It was an active week for the Indonesian coal mines with various vessels fixing delivery Singapore for trips to India in the high $3,000s/4000 levels. Aps rates were more likely to be in the mid/high $4,000s. A Dolphin 57,000-dwt was concluded for delivery CJK trip to Red Sea with steels at $5,250 daily. Backhaul also picked up with suggestions rates were around $2,000 per day.
The handysizes fared well with a daily increase on nearly all routes. The usual reluctance to share information was still a problem when assessing how routes were performing. A period rumour surrounded a 32,000 dwt ship fixing delivery Baltic for about three to six months in the low $5,000s. It was suggested a 32,000 dwt vessel was fixing Black Sea to Egyptian Mediterranean at something above $3,000 daily.
The Zafer 35,186 dwt built 2011 covered for delivery south Brazil trip West Africa at $7,000 daily.
A 35,000 dwt secured $3,600 daily for a trip delivery Mesaieed to east coast India while smaller 28,000 dwt vessels accepted region $2,000 daily for trips to Far East.
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