The week has ended positively with the major iron ore route C5 jumping up from around $4.00 at the end of last week to in the region of $4.75 today. The day started with talk of Rio Tinto fixing a vessel for early dates at $4.70 and another charterer fixing $4.60 for end August, followed by BHP said to have fixed the Greta Selmer (175,181 built 2011) at $4.75 for similar dates. With owners looking for better levels the T/C rates have also improved and by week’s end the C10 Pacific round-voyage was marked at over $7,200/day, showing an increase of almost $2,300/day for the week.
The Shagangfirst Power (179,527 built 2011) open Jintang mid-August was fixed for a WC south America round-voyage at $7,500 daily with Oldendorff. The same charterers were said to have fixed a 180,000 dwt vessel open in Japan for an Australian round-voyage at $7,000 daily.
In the mid-week the Appolonius (179,800 built 2016) fixed delivery passing Singapore retro end July for a Brazilian round-voyage at $10,100 with Trafigura.
The Atlantic has been less active with fewer new cargoes quoting, but rates have still nudged up slightly. The voyage routes for Brazil/Rotterdam and Bolivar/Rotterdam showed marginal gains with the former hovering on the low $4s and the latter now in the $4.50 region. The front-haul C3 today was marked at $9.38, again lacking any definite fixtures. Talk of Hyundai Glovis fixing at $9.50 for early September appear to be incorrect.
It remains to be seen what next week will bring with a National holiday in France, Greece, Italy, Belgium, Spain and South Korea on Monday.
This week has seen a steady increase in activity and correspondingly more positive numbers being achieved across both basins.
Towards the end of the week there was a lot more activity from the US Gulf and talk of a vessel having agreed $11,000 plus a $300,000 ballast bonus for a trip east. There were better levels seen from the Black Sea with rates of $13,000 daily and $15,000 daily rumoured achieved for trips to the East. Demand from east coast South America was seen to be steadily increasing albeit not as dramatically as from other areas in the Atlantic. It was seen that eco kamsarmaxes were getting up to around $8,000 plus $300,000 ballast for front haul.
Trans-Atlantic rounds had a mixed feel but no negative moves and a steady course was set looking forward.
The Asian market also fared better towards the end of the week with more activity certainly from the Indonesian coal which were showing stronger returns, but little was reported. For Pacific rounds an 80,000dwt was seen fixed at $5,300 daily and for Australian rounds a 93,000 was heard to have fixed via West Australia back to China at $6,300 daily.
Period activity remained a little subdued but reports came that a 77,000-dwt was fixed for 10-13 months delivery retro sailing Japan at $5,850 daily.
A mixed week with holidays in Singapore Tuesday and Japan Thursday helping to slow things down for Asia.
The Atlantic has remained on the slide with the odd decent fixture trying to buck the trend.
On the period front a 53,468 dwt this week secured $6,250 daily basis delivery China for 4/7 months while talk of a larger vessel being taken for a longer period at about $1,000 per day more. A Tess 52 fixed delivery Portugal for 3/5 months at $6,500 daily.
East coast South America was still a busy market but levels in general still going south. An Ultra was taken to Chittagong at $9,400 daily plus $95,000 ballast bonus and the same sized vessel going to Continent at about $6,300 daily. A 66,000 dwt was reported covered for Brazil to India-Japan range at $10,250 daily plus $150,000 ballast bonus.
The US Gulf was still expected to improve but so far this has not really happened. Sources advised a 53,000 tonner took $7,000 daily for a trip into the Eastern Mediterranean. A Tess 58 covered delivery US Gulf trip with petcoke to eastern Mediterranean at $8,500 daily. Scrap from the Continent/Baltic was still moving, this time a 50,000 tonner accepted $7,900 daily for trip to eastern Mediterranean. The Daxia a 56,810 dwt built 2011 fixed delivery Greece trip to West Africa at $10,250 daily while a similar sized went from Livorno to Far East at $10,600 daily to Koreans.
Asia was active even with the holidays. A 63,000 dwt was reported fixed delivery Campha trip India at $7,000 daily. A 57,802 dwt took $7,000 daily delivery Singapore trip via Australia to China with soft logs while a 58,000 tonner accepted delivery Singapore trip via Indonesia to India at $7,000 and similar vessels also fixing close to this level for the same business. Nickel ore this week paid $7,000 daily with a 52,000 dwt vessel agreeing delivery CJK prompt for a trip via Philippines back to China while an Ultra was reported for the same trade at $7,500 daily. One more nickel ore cargo moved on a Dolphin 57 accepting $7,000 daily delivery Manila for the trip to China.
The Star Pisces 60,000 dwt built 2015 covered a trip delivery Durban to Turkey at $5,300 daily while a slightly smaller 58,609 dwt ship secured $9,750 daily delivery South Africa for the trip to the Persian Gulf.
While Asia was heavily in the frame for supra fixtures handysizes didn’t feature as much with brokers not reporting or not having the information available. The indices for Asia showing very little change all week. The East Bangkok 32,474 dwt built 2012 secured $3,400 per day delivery Persian Gulf trip Far East.
In the Atlantic there was talk about a 36,000 dwt fixing basis delivery Skaw trip via Baltic to eastern Mediterranean with scrap in the low $9’000s. A 32,000 tonner covered two to three laden legs delivery Ghent, redelivery Atlantic at $6,500 daily.
From Brazil a 31,000 dwt was linked at $5,750 for one trip to the Mediterranean while a 35,000 dwt covered at $6,000 aps Recalada for trip to Skaw- Gibraltar range. The Nordic Malmoe 2012 built 34,734 dwt took a grain cargo delivery Recalada redelivery Baltic for a 40 days trip at $6,500 daily. It was suggested a 2014 built 37,780 dwt was on subjects at $5,000 daily delivery dop Taranto for trip to the US Gulf. The CS Jenna 37,713 dwt concluded a trip delivery Alexandria via Black Sea to Singapore-Japan at $10,300 daily. Inter-med business this week was paying in the region of $5,000-5,500 daily.
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