The week began with west Australia/China hovering around the $4.25 level with not a lot of movement until mid-week when the majors stepped in to take a number of vessels and push the rates to around $5.00, with some suggesting over $5.00 has been paid for 23/25 June dates.
Brazil/China ended the week around the $9.20/9.25 level which is not far off where it began the week. A Pepel cargo fixed earlier in the week at this level.
Tiemcharter fixtures have been less common, there was talk of the Seafarer 181,110 built 2014 open Lanshan mid June fixing for an Australian round voyage, fixing and failing with Glovis at $10,000 daily and now perhaps has refixed with Panocean, however no details have been confirmed.
The KSL Seville open prompt in Port Elizabeth was fixed by Oldendorff for a trip via Trinidad to the Far East, but no rate emerged.
TKS fixed the Minoas (newcastlemax) for Seven Islands to Rotterdam basis early July loading at $4.50.
With China back from its holidays next week, the market awaits to see what levels are achievable.
With Posidonia and festivities in Asia, this week the market was void of any great movements. Having said that the week seems to be coming to a close with a bit of pressure in the North Atlantic and increased enquiry. However from the East pressure remained on rates but owners had reluctance to accept charterers bids.
On east coast South America front haul at the beginning of the week we saw a 77,000 dwt 2005 built being covered basis Recalada for a trip Singapore – Japan at $7,250 daily plus a $225,000 ballast bonus. Towards the end of the week we saw an 82,000 dwt 2012 built achieving $7,350 plus $235,000 ballast bonus for a similar trip. More activity was seen from the Continent where an 82,000 dwt 2006 built open Ghent was covered via Murmansk for a trip to China at $10,000 daily.
For Atlantic rounds an 83,000 dwt 2012 built was covered basis delivery Gibraltar trip via Colombia redelivery Brindisi at $5,000 daily. On front hauls from the US Gulf we saw an 81,600 dwt 2015 built open La Coruna fix via the US Gulf redelivery Singapore-Japan at $8,750 daily.
From Asia for NoPac rounds a 74,000 dwt 2006 built open Japan was covered at $3,500 daily redelivery Japan whilst on the coal runs from Australia an 83,000 dwt 2010 was taken basis delivery Dalian via east coast Australia redelivery India at $4,000 daily. It remains to be seen going into next week if the bottom has been reached.
A small amount of activity on the period front. A 77,000 dwt 2015 built open Singapore mid-June was taken for 11-14 months redelivery worldwide at $6,300 daily. On the shorter period a 77,000 open South Africa was covered for four to seven months at $5,750 daily + $190,000 bonus.
With the various holidays in China and South Korea this week the Asian market was as expected relatively quiet but stable. Sources advising that the Atlantic is flat with tendency to come off for supramax and ultramax.
The US Gulf is still paying the highest numbers. This week a 61,600 dwt covered to Turkey at $12,500 and another vessel of 58,000 dwt fixed to India with petcoke at $13,250 daily. A Chinese owned 52,000 dwt fixed delivery US Gulf for prompt dates trip to Egypt at $10,750 daily. One short period fixture leaked out, of a 52,828 dwt type taking $8,000 daily delivery US Gulf for three/five months; something similar is currently being negotiated but with levels in the upper $8,000s for a 58,000 tonner.
East coast South America to China was hinted at $9,000 daily plus $90,000 ballast bonus with a 56,000 dwt vessel. Santos to Lagos with sugar paid $8,300 daily for 57,000 dwt. Brokers reported a 58,000 dwt ship concluded a trip delivery Conakry trip Black Sea at $5,500 daily. A scrap movement concluded with a 53,000 dwt delivery up in Sweden with redelivery eastern Mediterranean at $10,000 daily. A Dolphin 57 managed to secure $9,000 daily for trip delivery Black Sea to Singapore-Japan.
A few reports for supramax activity in the East; one 57,000 tonner fixed delivery Singapore 8-9 June trip via Indonesia to China at $5,500 daily. Sources advised a 55,741 dwt built 2004 concluded some steel business delivery Jingtang trip Singapore at about $5,200 daily, while another steel run went on a 57,000 dwt, achieving $4,300 daily delivery CJK with redelivery Singapore. This time delivery Singapore trip via Indonesia to China paid $5,500 daily with a 55,500-dwt. This week a Richards Bay prompt delivery paid $10,500 for the trip to PG/west coast India with a Tess 58 type.
For the smaller sizes, another week which continues to prove people do not like talking about what is being fixed or negotiated.
A 33,000 dwt was linked to a trip delivery Santos trip Black Sea at $5,750 with one of the major grain houses. A slightly smaller 32,000 tonner secured $7,500 daily delivery US Gulf for a trip to north coast South America. Rocky Point to Continent with alumina achieved $7,250 daily with Danish charterers.
An index 28,000 dwt was reported at $4,150 daily delivery Phu My trip via Indonesia to South Korea with steels.
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