Another uneventful week for the big ships with rates moving a few cents here and there but essentially still hugging the bottom. The West Australia/China run closed out the week around $2.90-95 with various charterers active in the market. Timecharter rates remained weak with a 2010 built 180,000 tonner allegedly fixing basis Caofeidian for a round voyage in the mid $2,000 daily range.
On the Saldanha/Qingdao run for 170,000 tonne 10% cargoes rates nudged up with a 24 March cargo allegedly booked around $4.60-65.
Vale was in the market this week but this week fixed based on the BCI C3 route with one concluded for a 27 March-3 April 170,000 tonne 10% cargo from Tubarao to Qingdao at $5.527 (Wednesday’s number).
There was a much needed increase in transatlantic cargoes but this had little impact on rates. Cargill reportedly secured an Atlantic vessel to move a cargo from Ponta Da Madeira to Gijon and Dunkirk at just $4.05 – a rate showing a negative timecharter equivalent.
The north Atlantic finally saw gains this week with increased business from the Baltic, Black Sea, Kamsar and Trombetas. Charterers were allegedly bidding rates at least in the mid $3,000s for well-described tonnage for trips from the Continent to the Mediterranean. In the Black Sea a 76,000 tonner fixed from Eregli via the Black Sea to Lisbon at $3,500 daily while a kamsarmax agreed $9,000 daily (not $11,000 daily as some earlier suggested) from Hereke via the Black Sea to the East. The US Gulf/US east coast market remained very sluggish with a 76,000 tonner fixing from Houston to Tarragona with petcoke at $5,750 daily.
South America remained the focus but now for April cargoes with the March ships still coming facing a shortage of options. However rates going forward were still steady with a kamsarmax reported on subjects in the high $6,000s daily range plus the upper $100,000s.
The Pacific market saw an influx of new business with rates firmer across the board. An average 75,000 tonner fixed from Tianjin for a NoPac/China run at $5,000 daily.
Another busy week with all index routes for handysize and supramax on the increase. Brokers even suggested owners were more bullish and holding off to see if the upturn continues.
During the week sources reported a couple of period fixtures – one 55,567 dwt 2005 built accepting $4,900 daily delivery Inchon for about 10/17 months while a smaller 53,553 dwt achieved $5,100 for delivery Luanda for about 12 months timecharter.
A 61,500 dwt secured $6,750 daily for a trip delivery upriver to Algeria at $6,750 daily while a Tess 52 concluded the same business at $5,900 daily. On the slightly smaller sizes a 47,375 dwt fixed Recalada for a trip Far East $5,750 daily plus $50,000 ballast bonus. The CS Daisy 56,971 dwt built 2010 secured delivery dop Abidjan at $6,000 daily for a trip via West Africa to Far East at $6,000 daily. An ultramax fixed US Gulf trip north coast South America $4,750 daily and another ultramax concluded a trip from the US Gulf to Continent with woodpellets at $6,500 daily. Market sources also reported another Tess 52 covering US Gulf trip west coast Central America at $8,500 daily. A 56,716 dwt was linked to business delivery Casablanca trip via Baltic to China at $6,750 daily. Brokers revealed a few Black Sea fixtures – one on a 45,000 dwt trip PG-WC India at $5,500 daily and two others, a 56,800 dwt and 58,760 dwt both to US Gulf at $1,500 daily.
The Far East was a very busy area this week with a host of reports and chat. All rates picked up slightly with a Dolphin 57,000 dwt fixed aps East Kalimantan via Indonesia to India at $5,500 daily. Klaveness covered a Tess 58 for delivery Singapore trip via Indonesia to Thailand at $3,500 daily. Another Dolphin was linked to a CIS round voyage delivery and redelivery South Korea at $3,800 daily. A 50,194 dwt agreed delivery CJK for a trip to the PG $5,300 with steels on a 50,194 dwt vessel. A 53,300 dwt was linked to a trip for delivery Tianjin via Far East and southeast Asia to west coast India at $5,350 daily.
Yet another Tess 52 managed to fix this for delivery east coast India to West Africa at $3,500 daily for the first 70 days and $4,500 for balance. Brokers advised the Spar Corona a Tess 58 accepted about $8,000 for a leg delivery Richards Bay trip PG-India.
The Handy sector players continued to hold their cards firmly to their chests. The IVS Nightjar 32,316 dwt built 2004 secured $6,250 daily delivery Recalada trip Turkey at $6,250 daily. Brokers reported a 39,000 dwt was on subjects for delivery east coast South America for a trip to the Continent at $6,500 daily. A 37,000 dwt was booked from the US Gulf to west coast Central America at $6,500 daily. There were unconfirmed reports of a 33,000 dwt fixed delivery Baltic trip US Gulf at something in the mid-upper $4,000s. Talk circulated about a short period being fixed on a 37,000 dwt at 5,000 daily delivery east coast America.
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