The word ‘roofer’ has been used to describe the rise in rates for the big ships – somewhat extravagant, with reaching the damp course possibly a more apt description. West Australia/China rates closed out the week at over $4.00 although charterers denied that $4.25 had been agreed. Timecharter rates were up with $6,000 daily paid Thursday for a 171,000 tonner open Singapore 21 April then re-let for a Dampier/Qingdao cargo at $4.15.
The Saldanha Bay/Qingdao rate too was on the move with one charterer allegedly currently willing to pay $6.00.
Brazil/China rates also firmed with talk that a 5-14 May 170,000 tonne 10% cargo fixed at $8.10 for a Tubarao lifting. North Atlantic rates improved although still in a thin market, but a 179,000 tonner fixed at a firmer $7,000 daily for UK delivery for a Brazil or north coast South America round voyage. The Puerto Bolivar/Rotterdam rate strengthened with a 2016 built vessel spot Rotterdam fixing at $4.90 with a rumour that $5.10 as agreed proving inaccurate.
Front haul fixing was in short supply although a 180,000 tonner open in the Black Sea fixed for a trip east at $17,500 daily and others claim mid-teens has been discussed front-haul from the north Atlantic.
A game of two halves in the Atlantic with rates still firm in the north for transatlantic and front-haul cargoes. There was talk of a 77,000 tonner fixed from the Baltic to the East agreed near $12,000 daily and an 83,000 tonner open Aughinish went for a Kamsar/China run at $11,500. A 79,000 tonner open Amsterdam agreed $6,750 daily for a transatlantic round. The pace has slowed from South America with this week largely a stand-off, with most suggesting that the April cargoes and a significant amount of May have been covered. Rates dipped, but there were still those booking tonnage dop in the East. A 76,000 tonner for 10-11 May eta east coast South America agreed $7,500 daily plus a $250,000 bonus for the trip to Singapore-Japan. A 2016 built kamsarmax fixed at $6,650 daily for 16-19 April delivery Fujairah for a trip via east coast South America to the East.
Trading in the East has been relatively active and rates have largely remained steady despite the easing in activity from South America. A 76,000 tonner open north China fixed for a NoPac round at $5,500 daily.
Period activity was in evidence and a 76,000 tonner open Singapore went to Panocean for four to eight months at $6,500 daily but this did include a first leg into Yemen.
The market continued to improve and brokers reported a very active week with fixtures concluded and nearly all showing an improvement over last done. Some sectors having a distinct lack of available tonnage.
Period business was again on the agenda which normally shows a positive sentiment. A Tess 52 fixed delivery Japan for five to seven months at $5,500 daily and a slightly larger 58,470 dwt vessel accepted $5,850 for four to six months. Talk of an ultramax fixing delivery PG around $6,000 daily could not be confirmed.
It was a busy week indeed for Atlantic deliveries. Brokers revealed a 55,600 dwt concluded delivery Ushant for a tripto the US Gulf at $5,750 daily. Scrap from the Continent to the east Mediterranean paid $8,750 daily. Sources reported a 63,500 dwt concluded a trip Canakkale via Black Sea to the Continent at $5,500 daily. A 57,000 dwt vessel fixed from the Black Sea to Chittagong at $8,500 while a Tess 52 achieved $8,000 daily to the Far East. A run from Garrucha to the US east coast went at $4,000 with a 63,800 dwt and a 53,000 dwt accepted $5,750 for West Africa. Further south a 63,500 dwt was linked to delivery Abidjan via east coast South America to the St Lawrence at $7,500 daily and a Tess 58 was booked from Recalada to Algeria at $8,750 daily. A 56,000 dwt fixed at $9,500 daily plus a $100,000 bonus for a trip from east coast South America to Singapore-Japan. For the slightly smaller handymax a 45,000 dwt fixed a South Brazil/Continent run at $7,400 daily. A 63,800 tonner agreed $9,175 daily for two to three laden legs with delivery West Africa. The Universal Baltimore 56,800 dwt agreed $6,500 daily from the US Gulf to Colombia and a 52,000 dwt fixed to the Egyptian Mediterranean at $7,000 daily. Trips to Singapore-Japan range with US Gulf deliveries were fixing around $10,000 daily.
Various business was concluded from the Far East sector, but rates were not as strong. The Yasa Canary 55,431 dwt secured $6,000 daily delivery Singapore for a trip via Indonesia to India, and similar runs also were also being done at anything between $6,000-6,500. A 56,732 dwt was linked to a piece of business delivery Kandla to China at $5,000 daily. An ultramax fixed delivery South Africa for a trip to Singapore-Japan at $10,000 daily. The Spar Corona a 2011 built 58,000 dwt Tess 58 went at $6,300 daily for two to three laden legs delivery Mina Saqr.
The King Coffee 32,809 dwt secured $7,500 daily for delivery Stettin for a trip to the US Gulf at $7,500 daily. Similar business was said done in the the mid $8,000s for a 38,000 dwt. A scrap run for a 32,000 dwt went at more than a supramax achieving $10,500 to the east Mediterranean with delivery Skaw. A 2009 built 32,688 dwt vessel managed to secure $5,250 daily delivery dop Sfax trip via the Continent to Algeria while the China Spirit 35,000 dwt fixed delivery Gibraltar via Continent to north Spain at $6,000 daily. Nemrut Bay was the delivery for the Vigorous 33,695 dwt built 2013 for a trip to the US Gulf/US east coast at $4,100 daily.
Short period on a 35/36,000 dwt was alleged to have been covered about $6,750 delivery Continent. The market was very active within the Handy sector this week but further actual reports remained elusive and little reported with an Eastern hemisphere delivery.
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