A reasonably active end to the week for the big ships with rates picking up just slightly. Rates for cargoes from West Australia to China clawed their way back to the low $4.00 range while a 179,000 tonner open Kakogawa fixed for a West Australian round at $6,500 daily. There was a resurgence in activity from Brazil as the week drew to a close and even a ship fixed dop in the East for a Brazil round. A 203,000 tonner went to Noble for spot delivery Shanghai for a Brazil round at $6,500 daily. SwissMarine covered two 170,000 tonne 10% cargoes from Tubarao to Qingdao each at $8.00 for first half July positions. Going forward Pacific Bulk fixed three cargoes with Vale on this run for shipment in the third quarter at $8.35.
In the north Atlantic, GdFSuez took an EdF vessel to move a 20-30 June 160,000 tonne 10% cargo from Puerto Bolivar to Rotterdam at $5.10 and a 180,000 tonner open Rotterdam fixed a transatlantic round at $7,000 daily that included a 30-40 day option.
This market again largely remained focussed on South America with the pace slower during the week, rates came under pressure. Rates for kamsarmaxes from the area for 20-30 June for trips from east coast South America to the East were hovering around the low $7,000s daily plus the low $200,000 bonus. Further north tonnage has been tight from the US Gulf for prompt positions and there was a rumour mid-week that a ship fixed at $13,000 daily plus a $300,000 bonus. The Danish shipbrokers’ gathering today has curtailed some activity. Transatlantic trading was limited with rates for cargoes from the Baltic fixed to the eastern Mediterranean in the mid-high $5,000s daily range for standard panamaxes.
In the East, new business has been slow to emerge most of the week and owners here were faced with lower rates, and now more accepting lower than last done. Post panamax rates were barely holding in the low-mid $4,000s daily on most trades while a 76,000 tonner agreed $5,100 daily for Fukuyama delivery for a trip via east coast Australia to the Philippines. Period interest remained and some eco kamsarmaxes have fixed short periods close to $6,000 daily. Charterers were looking at longer periods of a year or so but owners were currently unwilling to take the rates talked.
May is coming to a close and the market has slowed this week with the forthcoming UK long weekend but more importantly many major players off to Denmark for the shipbroker party in Copenhagen. Not much to report on period but one 63,800 dwt did cover delivery Barranquilla for 4/6 months at $10,000 daily. The BDI reported a small daily drop but the Handy and BSI index had slight gains of one point a day for Handy and three to four points on the BSI.
The Atlantic has seen the better rates as usual but brokers suggested the US Gulf has started to slow. Sources advised a Mitsui 56 covered delivery US Gulf trip west coast South America at $13,500 daily with talk a larger vessel may have secured as much as $15,500 daily for the same trip. A Tess 52 covered at $12,200 daily for a trip from the US Gulf to India. There were also reports of a Dolphin 57 fixed delivery US Gulf for a trip South Africa at $9,000 daily.
The Oxygen 55,525 dwt built 2009 breathed some life into the Brazil coastal market when fixed delivery Tubarao for a trip to north Brazil at $9,000 daily. One of the musketeers – the Porthos – concluded a sugar trip from east coast South America to Praia at $8,100 daily plus an $81,000 ballast bonus while an Ultra went further east to Singapore-Japan at $10,000 plus a ballast bonus of $100,000. On the smaller sizes a 45,700 tonner concluded the trip from east coast South America to Egypt at $5,750 daily. In this size range tonnage secured $9,500 daily from Rotterdam to east Mediterranean with the usual scrap cargo while an ultramax managed to obtain delivery Gibraltar via Murmansk with coal also to the eastern Med at $8,250 daily.
In the Far East a few fixtures came to light. A Mitsui 56 covered delivery Hachinohe for a NoPac round at $5,500 daily. The mid-sized Safesea Neha 48,893 dwt secured $4,200 daily delivery Singapore trip via Indonesia to India while a slightly larger 52,000 received $5,100 for the same trip.
Overall some rates slightly improved over last done in this theatre.
The Friendly Seas 58,779 dwt built 2008 managed to obtain $6,000 daily delivery Mumbai for trip via Salahlah to Japan at $6,000 daily.
Another thin week for gathering handysize information. The market pushed up from east coast South America but in most other areas it was flat with a downwards tendency.
Clipper fixed a 38,000 dwt vessel delivery Southwest Pass for a trip Morocco at $9,500. Brokers also reported a 33,0000 dwt built 2010 fixed for a trip delivery Iskenderun to US Gulf-north coast South America range at $4,800 daily for the first 50 days with the balance rate at $6,500 daily.
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