Despite several ships fixed on the key West Australia/China run at the beginning of the week and rates hitting $4.80 for early September 170,000-tonne 10% cargoes this proved short-lived with rates stating to fall mid-week and dropping to $4.30 as the week closed out. There were claims that the equivalent of $4.70 or thereabouts was done timecharter. There was talk that a 2001-built 169,000-tonner open Huanghua went at a rumoured $5,000 daily for a round voyage. From Saldanha Bay rates nudged $7.00 with talk of Oldendorff fixing a 170,000-tonne 10% cargo to Qingdao at a rumoured $6.90. The Brazil action was largely mid-week with several charterers active with rates ranging from $9.00 to $9.30 for 170,000-tonne 10% cargoes from Tubarao to Qingdao.
Yet again north Atlantic trading remained slow and rates weak. Mid-week a mid-September 160,000-tonne 10% coal cargo was fixed from Puerto Bolivar to Rotterdam at $4.65 while further north a 181,000-tonner cut size to move a 115,000-tonne coal cargo from Baltimore to Rotterdam at $6.20. Period activity was limited although a newbuilding 179,000-tonner fixed for 12 to 16 months trading with Qingdao delivery $9,000 daily.
With widespread public holidays at the beginning of the week, the market was not as active as previous weeks.
The Atlantic experienced mixed fortunes during the week. From the north a fair amount of the short Baltic/Continent-Mediterranean rounds came to the market with Kamsarmax rates hovering around the low-mid $7,000s with redelivery Gibraltar-Skaw range. The US Gulf remained evenly balanced with a 75,000-dwt 2012-built covered basis delivery SW Pass early September for a trip redelivery Singapore-japan at $11,000 daily plus $275,000 ballast bonus, a slight improvement on last done. Rates from east coast South America were off last week’s highs with eco Kamsarmaxes achieving rates around $8,000 daily plus a $300,000 bonus for the runs to the East.
Asian markets appeared to be the more active of the two basins, but it remained very positional. An 82,000-dwt 2015-built was reported basis delivery north China for a NoPac round at $6,100 daily. For Australian rounds a 96,000-dwt 2012-built was reported basis delivery Kwangyang for a trip via Gladstone redelivery Japan at $6,500 daily. In the south, an 82,000-dwt 2007-built was reported fixed basis delivery Kosichang trip via west Australia redelivery Singapore-Japan at $7,250 daily and a 84,000-dwt 2013-built fixed basis delivery Fangcheng via Indonesia redelivery India at $6,250 daily.
A limited amount of period was reported this week although an 81,000-dwt 2012-built achieved $6,750 basis delivery Haldia for five to eight months trading redelivery worldwide.
The Asian market is the place to be with many ships being reported fixed and with rates moving up. Owners are not interested at the moment to take low levels to position into the Atlantic. Black Sea business has been in the forefront again with levels for front haul picking up. The US Gulf has witnessed a few good levels with some charterers getting caught out with a lack of August tonnage. Overall the Atlantic was quiet compared to Asia.
Period talk has unearthed a few fixtures, one Ultramax newbuilding 62,000-dwt having taken $7,250 daily for 8-12 months and a similar deal is said to be on subjects. Another 62 was covered delivery Imbituba for about 5-7 months at $7,500 daily plus a $200,000 ballast bonus to one of the major grain houses. A shorter period of 3-5 months was taken be the Poseidon SW 2008 built 55,688-dwt at $6,250 daily delivery Nansha with redelivery worldwide.
US Gulf to India paid $14,000 daily with a 66,000 tonner while a Tess 52 fixed to Djibouti at the same level. The highest rate of the week went on a 61,208-dwt basis delivery US Gulf trip China at $16,000 per day. Brokers advised that a 58,000-dwt was taken delivery Corpus Christi to Turkey at $8,250 daily. A 60,000-dwt covered delivery US Gulf trip NCS America at $10,000 daily. The Cardinal 55,408-dwt built in 2004 concluded a trip delivery Santos trip to Malaysia at $8,600 daily plus a $90,000 ballast bonus. A 53,000 tonner took a sugar cargo delivery Santos 17-20 August trip West Africa at $8,250 daily with reports the vessel ballasted in from west coast South America. Black Sea to Far East went at $13,900 daily with a 63,098-dwt vessel while a smaller 57,800-dwt covered same trip at $12,200 daily. The only report from this side was on the Cos Glory 1999 built 46,689-dwt taking clinker delivery Bejaia to West Africa at $9,100 daily.
Where to start in Asia? Most rates ranged from $6,500 up-to mid $8,000s. Sources advised a 63,000-dwt covered delivery Lanshan trip via Philippines to China at $7,250 with nickel ore while another 63 fixed delivery Singapore for the same business at $8,500 daily. Delivery Singapore trip via Indonesia to CJK was paying around $7,000-7,500 daily depending on the ship. Various cargoes of steels were fixed this week, a Tess 52 went at $7,250 daily delivery CJK spot trip to Thailand and a 53,000 tonner took $6,500 daily delivery Lanshan trip SE Asia. NoPac rounds being reported at levels in the low $7,000s and one 58,115-dwt vessel secured $7,000 daily for a trip to Persian Gulf with delivery CJK while a smaller 56 managed $7,500 for the same business.
Sources revealed the Essence of Seatrek 2015 built 63,505-dwt concluded a trip delivery Mina Saqr to east coast India at $6,000 daily.
A 50,000 tonner was linked to a trip to Far East delivery Callao at $8,250 daily.
Overall it was a good week for Asian and Continent routes, but US Gulf and east coast South America were not doing as well. Although there were not many reports brokers feel Asia is likely to improve over the rest of August.
Recalada to Tunisia and Libya paid $6,000 daily for vessels around 32,000-dwt and the same rate was paid on a 39,000 tonner delivery Recalada trip to NCS America. A Belgian based account took a 28,000-dwt delivery Canakkale to UK/Continent at $3,250 daily. Sources advise a 32,600-dwt was fixed delivery Lanshan trip back to Mediterranean at low $5,000s for first 65 days and $7,000 for any balance. A 31,000-dwt was suggested covered delivery China trip Western Australia at something in the low $5,000s. A 34,000 tonner fixed a short round at about $6,000 daily and an index 28,000-wdt was rumoured to have taken a NoPac round at $5,800 daily.
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