A positive end in a week that holidays disrupted trading. After much expectation there was finally fixing from Brazil with more cargo in the market and Vale eventually booking tonnage. Rates were said to be hovering around, if not in excess, of the mid-$14.00s with Oldendorff allegedly fixing a 179,701-dwt 2010-built vessel from Singapore with several load options including Brazil at $15,250 daily plus a $200,000 bonus with redelivery Singapore-Japan. Sources suggested the rate equated to $14.65 basis C3 terms. Vale took a Newcastlemax on this run allegedly with the rate based on the BCI C3 assessment today. Front haul rates too improved with a 176,000-tonner 2008-built open Cape Passero fixing via the US east coast option east coast Canada to the east at $26,000 daily. Transatlantic trading remained sluggish but reports of K-Line fixing a cargo from Puerto Bolivar to Sines in the high $5.00s as the week closed out were denied. Asian holidays stalled the market in the east with the early part of the week rates seemingly moving close to the mid $6.00s from West Australia to China but then slipped back to the low $6.00s but today FMG booked tonnage for a Port Hedland/Qingdao cargo at $6.30.
South American trading lent some support to an otherwise still largely stalled panamax market with rates for most of the week struggling to hold at last done. The north Atlantic remained under pressure although some sources suggested a floor may have been reached. There has been little fresh inquiry from the Baltic or the US east coast or gulf to absorb a healthy list of ships. Transatlantic rates depending on whether a panamax or kamsarmax ranged from the low $7,000s to $8,000 daily. However, a 75,000-tonner open north coast South America fixed for a transatlantic run with a grain house in the low $9,000s daily. Front haul rates also took a hit with a 77,000-tonner open Rotterdam fixed via the Amazon to load bauxite to China at $14,000 daily.
In the east, owners struggled to push rates higher despite ships heading off in ballast to South America. Some seemed to questioning the wisdom of heading off in ballast to an area where charterers can now largely fix basis aps to the east with rates just in the $11,0000s daily and $500,000 bonus for standard tonnage. Round voyage rates in the east remained largely flat with eco LMEs seeing around the low $8,000s for Dalian discharge while a kamsarmax open Fukuyama agreed $9,250 daily for a NoPac round earlier in the week.
A slightly more active week but sentiment generally remained negative in both Atlantic and Pacific. More cargoes from the US Gulf lent support and the rates climbed from the middle of the week. Limited period fixtures were reported this week.
A 63,000-dwt 2015-built delivery west coast Mexico was fixed to the Mediterranean at $15,000 daily, and a 56,000-dwt 2012-built was booked to move pet coke at $19,000 daily from the US Gulf redelivery India. An ultramax was fixed to the east at $15,250 daily delivery Canakkale. A trip with scrap was covered at $12,350 daily on a 56,000-dwt 2011-built from Bremen via the Baltic to east Mediterranean.
NoPac round voyages achieved $8,000 daily delivery mid China on a 55,000-dwt and $10,000 daily delivery South Korea on an ultramax. Sand trips paid $6,000 to mid $7,000s via Southeast Asia redelivery Singapore depending on the size of the ship and the loading point. A 55,000-dwt and a 53,000-dwt were both fixed at $8,000 daily basis Singapore and Indonesia delivery for a typical coal trip via to China.
The Atlantic sector, with the exception of the US Gulf, demonstrated little confidence. Brokers currently suggest that the US Gulf has now hit the bottom and future fixtures will show an improvement on last done. With the various Asian holidays, the market there has been relatively flat with indices mainly having a small downwards trend.
A large 39,202-dwt vessel took a pipe and urea cargo from Årdalstangen to US Gulf at $8,500 daily while a similar size agreed delivery Gibraltar for trip east coast South America at about $6,500. The Alycia 2012-built 34,018-dwt was reported fixed to J Lauritzen at $9,000 daily delivery dop Constantza for a trip to Tunisia. There was a rumour that a 32,000 and a 39,000 ton bulker was covered delivery dop Turkey for a trip to the USA at $7,500 daily. A 32,000- tonner was taken delivery Tuzla for a trip via the Black Sea to western Mediterranean at about $8,000- $8,500. Handysizes were achieving $15,000 for trips from the US Gulf to west coast Central America. A couple of coal trips surfaced, the Four Otello 2010-built 34,357-dwt delivery aps Puerto Bolivar to Morocco at $9,600 and the Fortune Bay 2011-built 29,092-dwt from Colombia to Chile at $12,000 per day. Louis Dreyfus apparently took a 32,000-dwt at mid $9,000s aps Recalada for a trip to Skaw-Passero
It seemed 36/37,000-dwt vessels were concluding inter Asian and Australian round voyages at levels between $7,500- $8,000 per day. Sources reported the Maritime Coaction 2008-built 28,200-dwt was fixed to Clipper at $10,000 daily basis delivery dop Kwinana for a trip redelivery South China with mineral sands.
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