A largely easier end to the week for the big ships with the May Day holiday weekend here and this despite the paper trades trying to stimulate the physical market. There had been hopes of improvement in the Atlantic for front haul at least but most of these cargoes have now been cleared out along with transatlantic cargoes. There remained a few north Atlantic vessels and a few ballasters in the frame. Cargill booked tonnage on timecharter for a Puerto Bolivar/Rotterdam cargo at undisclosed rate but allegedly said it equated to a sharply lower $7.10 for a 20-30 May cargo. Tonkolili covered a 20-24 May 170,000-tonne 10% cargo from Pepel to Qingdao at something over $14.50. A few ships have fixed Brazil cargoes but rates were not always disclosed but the rate hovered around $14.00.
In the east, there were a mixed bunch of rates reported for the C5 West Australia/Qingdao run reported but the rate seemed to be around $6.10 for 10 May onwards. Timecharter activity was negligible although earlier this week an 180,000-tonner open Jintang 28 April fixed for a Roberts Bank/South Korea run at $14,600 daily.
The north Atlantic market remained under severe pressure, with new business scarce tonnage building a more or less global long weekend approaching. Transatlantic rates for BPI types were significantly under $10,000 daily with many suggesting levels were realistic under $9,000 daily and front haul rates dropping sharply. South America has been the lynchpin of the market both in the Atlantic and the east but although there has been fixing this week the pace has slowed and rates lower. A 74,000-tonner 2001-built went earlier this week aps Recalada for the run east at $11,500 daily plus a $550,000 bonus while a 2012-built Universal type Kamsarmax fixed today from Brazil to the east at $11,500 daily plus a $500,000 bonus for mid-May. Ballasters continued to target this market especially with rates falling in the east. A 2015 built Kamsarmax, open Kashima early May, fixed for a NoPac round at $10,750 daily.
The Atlantic market softened towards the end of the week tonnage generally plentiful. US Gulf rates were mixed when the week began with a 63,000-dwt 2015-built reportedly fixed at $24,750 daily delivery Cristobal back to Singapore-Japan range and a 58,000-dwt 2007-built done at $20,000 daily from the US Gulf for a similar run. A 52,000-dwt was paid at $14,700 per day for Recalada to Spain, and a 60,000-dwt went at $14,500 daily also basis east coast South America to west coast India with a ballast bonus of $450,000. Both via the Continent, a 2014-built Ultramax delivery Amsterdam was fixed for a trip to the Far East at $17,500 daily, whilst a 56,000-dwt 2008-built delivery Gibraltar was covered for redelivery west Africa at $14,000 daily.
The rates in the east fell again. A 56,000-dwt 2013-built delivery mid China was booked for a coal trip via Indonesia to China at mid $8,000s, and a 57,000-dwt 2011-built open Thailand was paid $8,000 daily for a trip via Indonesia to India. A NoPac trip paid $9,000 daily on a Dolphin 57 type delivery CJK trip to India and $9,500 daily on a 61,000-dwt 2015-built delivery north China trip redelivery in the Far East. A 56,000-dwt 2010-built was booked at $8,750 per day delivery Bin Qasim trip back to Southeast Asia.
The slide for all routes became evident today with east coast South America taking the biggest hit. Most Atlantic charterers appeared to be happy to wait and roll into next week in the expectation that rates will be considerably lower. Asia was coming off but actual information remained scarce. Although there has been some underlying period talk it seems charterers are holding off negotiations, however the Seastar Endeavour was linked to a period of four to six months delivery Limassol with redelivery Atlantic excluding West Africa at about $9,000 per day.
Sources reported the Four Nabucco 2010 34,403-dwt open Misurata was fixed basis delivery Alexandria to the US Gulf at $7,500 for first 45 days. There was a rumour surrounding the Cielo di Tokyo 2008-built 37,296-dwt fixing from Coronel to the US west coast around $8,000 per day. Another vessel was rumoured to have fixed New Amsterdam to Black Sea at $9,750 which would be an increase over last done. The Federal Beaufort 2015-built 34,564-dwt was allegedly on subjects at $10,250 for a sugar cargo from South Brazil to Black Sea with Bunge but later reports suggested this may have already failed. A 38,000-tonner was apparently fixed and failed delivery Recalada for trip to Algeria at $12,750.
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