A stronger end to the week with sentiment still positive even in the Atlantic where cargoes still remain in short supply but owners successfully resisted the push to drive rates lower particularly on fronthaul. Tonnage remained plentiful but with significant numbers of ships under one umbrella owners were pushing for firmer numbers. A 150,000 tonne 10% coal cargo with CCL pool vessel from Baltimore to Mundra allegedly fixed at a rate equating to $12,000 daily for the run east. From Brazil, Anglo American fixed a cargo from Acu to Qingdao for 11 May onwards at $7.70 while from Tubarao to Qingdao a ship fixed on timecharter was said to show something in excess of $7.00 and rumours of $7.65 actually fixed. Transatlantic rates lagged behind but tonnage fixed as the week closed out at $4,000 daily and an end April-early May cargo was done from Puerto Bolivar to Rotterdam at $4.00.
In the East, the major Australian shippers were active but reports that BHP Billiton booked a prompt 170,000 tonne 10% cargo from Port Hedland to Qingdao at $3.90 were denied. There was talk that a 176,000 tonner open Wenzhou fixed an Australian round somewhere around $5,000 or $5,500 daily were said inaccurate. Rates on the key Saldanha/Qingdao route were now in the mid $5.00 range.
Brazil/Argentina grain exports to the East have been the driving force in the market all week but charterers eased back as the week closed out. Much of the April business has allegedly been covered and charterers were reluctant to further fuel the market by pursuing May tonnage. Rates have eased but owners with May ships were still trying for the bigger numbers despite more ships from south east Asia and the Indian Ocean area eyeing South American cargoes. Rates for aps delivery east coast South America appeared to have settled for now in the upper $7,000s daily plus bonuses slightly under $300,000. This market too impacted further north with owners fixing this week on some particularly trades in five digits. An 81,000 tonner 2011 built fixed from Amsterdam via the US east coast to India with petcoke at $11,000 daily.
Transatlantic rates improved too hovering in the mid $6,000s and still very steady for ships from east coast South America with an 81,000 tonner fixing 20-30 April delivery Recalada for a trip to Turkey at $9,250 daily.
In the East, owners with ships in south east Asia were prepared to ballast or take cargoes to India also to re-position for the South American market. This market still lacked NoPac cargoes. An 88,000 tonner fixed from Sakaide for a trip via east coast Australia to Taiwan at $4,750 daily while a 76,700 tonner agreed the same rate for a trip from Tachibana via east coast Australia to east coast India.
Some period activity has lent some support to the market here with short period rates for standard panamaxes around $5,500 daily.
Overall another plus week on most index routes. The BHSI Timecharter average now sitting at $4,137 and the BSI Timecharter average at $5,069. The lowest of the year was recorded on the 15 February at $2,698 for the BHSI and $2,544 for the BSI on 12 February. The question remained whether this improvement will be sustained.
A few period fixtures were reported this week – one ultramax vessel 63,600 dwt delivery West Coast India for 12 option 12 months at about $5,700 daily with the optional period at about $6,100 daily. Rumours surfaced about two 37,000 dwt ships concluded for short period delivery Recalada with redelivery Atlantic at $6,300 and $6,500.
The market from east coast South America was busy and improved with some of the latest fixtures achieving delivery dop West Africa and South Africa. Brokers anticipated levels will move forward next week in this area. For the smaller sizes in the region of 47,000 to 48,000 dwt one vessel fixed ex West Africa at $4,500 daily for Algeria and another aps Santos to Bejaia at $8,250 daily. A Tess 58 fixed delivery Vila do Conde to the Continent at $8,250 and another 58,000 dwt fixed Recalada to Spain at $8,000 daily. Sources advised a 53,000 dwt achieved $7,500 daily delivery Durban via Santos to South East Asia and a Tess 52 covered delivery Douala via east coast south America to the east Mediterranean at $6,500 daily. The US Gulf market was also active with an owner securing $7,500 for a Dolphin 57,000 dwt and a Tess 58 obtaining $9,000 both for redelivery in India. A charterer paid $6,250 daily for a trip to the Lebanon and rumours a vessel going to Israel reached the dizzy heights of about $8,750 daily. Continent to eastern Mediterranean scrap cargoes were still paying in the region of $8,000 daily for supramax sizes. A Dolphin 57,000 dwt was linked to a Black Sea/Far East run at $7,500 daily and a smaller 46,000 dwt covered a trip to the US Gulf at $2,500 daily for the first 45 days and the balance at $5,000 daily.
Brokers reported a few nickel ore cargo movements this week paying in the region $5,500-$6,250 depending on delivery with the normal redelivery in China. The Sea Athena 57,034 dwt built 2010 secured $5,000 daily for delivery Padang trip via Australia to China. Yet another Dolphin 57 was fixed this time at $5,250 daily with delivery north China trip to south east Asia while a 63,000 dwt concluded delivery south China for trip via Indonesia to India at $6,000 daily. A Tess 58 was linked for trip to India delivery South Africa at $9,400 daily.
The handysize market was still trying to improve within the Atlantic theatre. A 31,800 dwt fixed Recalada to Egypt at $7,900 daily and a similar size secured $5,500 daily plus an $85,000 ballast bonus delivery Up River Plate for a trip to the US Gulf. The Pelagiani 35,313 dwt 2004 built achieved $5,450 daily for a trip from Corpus Christi to Italy. From the other side of the pond a trip Dunkirk-Baltic to the US Gulf paid about $4,000 daily and a 32,000 dwt fixed delivery Bejaia via Continent to Algeria at $5,000 daily. The IVS Orchard carried a scrap cargo from Skaw/Baltic to east Mediterranean at $7,250 per day, the vessel being 32,535 dwt built 2011.
In the East brokers suggested a 39,781 dwt new building covered a coal cargo delivery CJK for a trip via CIS to Taiwan at $4,750. A 28,599 dwt built 2000 concluded a trip to south east Asia with delivery Pohang at $5,000 daily and another 28 accepted $3,100 delivery South Philippines trip via Australia to China-Japan.
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