At the start of the week the west Australia/China route was fixing around the $4.70 level and today there is talk of $4.30 or possibly lower being fixed by Rio Tinto on Marmaras tonnage as there is a lack of fresh enquiry for the available tonnage.
Timecharter fixtures have been scarce in the Pacific although today there was talk of the C Discovery, 2010-built, 179,185-dwt, open Rizhao mid February, fixing an Australian round voyage to China at $3,500 with Jiangsu Steamship.
Salzgitter fixed NYK tonnage for Saldanha Bay to Hansaport basis 1/15 March at $4.85.
On Tubarao/China the rate for loading in February was in the upper $10’s during the week, whilst March loading was covered on Marmaras tonnage at $9.95, however by week’s end this premium seemed to disappear as K-line fixed the Aquavision 2011-built,180,353-dwt, at $10.90 for 9/13 March.
Cargill covered a Bolivar to Rotterdam cargo for second half February loading at $5.70 on CCL tonnage.
There was talk of a Narvik to Hansaport cargo being fixed by Salzgitter at under $3.00, however further details have not emerged.
Some vessels were taken for period including the Aliki, 2005-built,180,235-dwt, open Tobata 10/20 February fixing in direction continuation with SwissMarine basis 13-15 Months at $10,300.
A week with distinct differences between the Atlantic and Asian basins, routes within the East maintained an upward curve throughout whilst the Atlantic routes went in the opposite direction. Brokers advised, with limited activity and a fair amount of committed tonnage this kept rates on a downward trend. The North Atlantic faired a little better with more activity being discussed in the second half of the week. A 82,000-dwt new building was fixed basis delivery North China for an east coast South America fronthaul at $8,000 and another 82,000-dwt 2010-bult was fixed for similar business basis delivery east coast South America 23-28 February at $9,500 daily plus $450,000 ballast bonus. For Atlantic rounds we saw a 82,000-dwt 2013-built fix basis delivery passing Gibraltar trip via EC South America redelivery Continent at $8,000 daily.
The Asian market proved more positive and activity levels increased during the week. A 70,200-dwt 1996-built was fixed basis delivery South China prompt for a trip via Indonesia redelivery China at $6,900 daily. In the NoPac a 75,000-dwt open Nagoya mid-February was fixed at $7,250 for the roundvoyage.
The market also saw a bit more period activity with Charterers taking period cover which helped improve sentiment. A 76,000-dwt 2008 –built was taken basis delivery Singapore for 4-7 months in the low $9,000’s low and an IHI 87,000-dwt 2008-built was fixed basis delivery retro Singapore early February for 5-7months at $9,750 daily
The sentiment in the Atlantic remained gloomy throughout the week and rates from US Gulf did not climb any higher. However, brokers reported more activity in the Pacific now that China is back in the market. On period front, a 58,000-dwt 2011-built open in north China was booked for 4 to 6 months trading at mid $3,000s for the first 40 days and $6,750 daily for the balance until redelivery worldwide.
A scrap run to Turkey paid $10,500 on a $56,000-dwt 2012-built delivery in the UK. A trip from Conakry into the Black Sea was fixed at mid $6,000s on a 56,000-dwt 2012-built. For longer durations, a 58,000-dwt 2011-built was fixed at $12,000 daily with South Africa delivery to China at the beginning of the week. A 56,000-dwt 2012-built delivery Sao Fransisco de Sul was reportedly fixed via Brazil to Southeast Asia at $11,500 daily plus a ballast bonus of $150,000. The level on US Gulf to the Far East varied from mid $12,000s to mid $15,000s depending on the size of the ship and its laycan.
In the east, steel trip to Southeast Asia was paid at $4,000 daily on a 57,000-dwt open north China. For coal loading from Indonesia, a 52,000-dwt was fixed to Thailand at $5,600 per day delivery Manila, a 55,000-dwt to west coast India at $6,000 daily basis Singapore and a 57,000-dwt to China at $5,000 daily with opening in Vietnam. More trading on loading from India was also noticed with a 58,000-dwt 2012-built concluded at $6,000 from east coast India and a 56,000-dwt 2014-built booked at $9,000 daily from west coast India both to China.
Brokers believe there is little chance of improvement on the horizon as there was no respite this week within the Atlantic. There was talk of tonnage ballasting in to east coast South America from South Africa which was having a continued negative effect on levels from this area. A complete contrast in Southern Asia with sentiment changing and talk of a scarcity of vessels currently available. North Asia again needed time to clear out the early tonnage that was still open. On the period front, it was rumoured a 2013-built 38,000-dwt fixed for 6 to 9 months, delivery eastern Mediterranean at $7,300 per day and a 38,000-dwt tonner delivery in the north Continent booked for 3 to 5 months at $9,500 per day.
From the Continent, a 30,000-dwt was said fixed at $6,350 per day with delivery aps La Pallice for a trip to west Africa. A 36,000-dwt was fixed delivery Antwerp to east coast South America at $4,150 daily. A scrap cargo was apparently concluded with a 32,000-dwt delivery UK for a trip to Southeast Asia in the upper $10,000s. A 28,000-dwt was concluded at $4,750 daily delivery Canakkale for a run to Egypt and a 36,000-dwt was paid for an inter-Caribbean requirement at $8,500 basis delivery aps South West Pass. Brokers suggested a 32,000-dwt vessel was on subjects delivery Recalada for a trip to Algeria at $6,750 daily while a smaller 28,000-dwt at $6,500 delivery Vitoria to Rotterdam.
In the east, a 37,000-dwt was fixed from San Francisco run via US west coast redelivery Red Sea at $8,000 daily plus an $180,000 bonus. A 32,000-dwt from Singapore was linked to an Australian round voyage at $6,250 daily and a 39,000 tonner was alleged fixed delivery east coast India with a steel cargo to Indonesia at $6,000 per day.
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