A steady end to the week for the big ships trading from Brazil and West Australia. Activity in the north Atlantic remained sparse with brokers suggesting at least half a dozen ships now idle.
The week ended on a positive note with around nine or so ships fixed from Brazil to China with rates nudging $13.00. Vale took at least three and other operators accounted for the balance. West Australia/China rates edged up over the course of the week culminating in a report today of Rio Tinto fixing $5.50 for a 4-6 August 170,000-tonne 10% cargo from Dampier to Qingdao and a prompt cargo with Roy Hill done at $5.80. A 180,000-tonner open Singapore allegedly fixed for an Australian round at $12,500 daily but this was not confirmed. Saldanha/China rates held steady as the week closed out holding at around $9.20.
The Black Sea market took off this week with demand quickly absorbing Mediterranean tonnage and charterers sourcing ships from the Middle East Gulf and India and briefly Singapore. Rates rose with a 2013-built 76,000 tonner fixed from Port Said via the Black Sea and Red Sea with Port Said redelivery at $12,000 daily. The pace slowed from the north Atlantic but rates were still steady and although the US Gulf appeared still sluggish sources suggested there was activity under the surface. South America took a breather but owners with ships in ballast still remained relaxed as the Black Sea sucked up tonnage. There were cargoes being fixed including a good kamsarmax fixing from the Cape of Good Hope via east coast South America to the east at $11,250 daily plus a $400,000 bonus. In the east, southeast Asia remained the most active area of the market with Chinese coal demand hoovering up tonnage from Indonesia to China and Indian demand still evident from there and east coast Australia. A 2004-built LME fixed from Cai Lan via Indonesia to India at $10,000 daily while a kamsarmax fixed from Taizhou via Indonesia to China at the same rate. However, NoPac trading was limited and the tonnage list in the north continued to grow but so far rates were holding steady with most now prepared to wait until next week for a clear direction.
Overall a positive week especially for the Black Sea market. Rates softened for US Gulf loading but climbed higher for west Africa and east coast south America opening vessels. Nickel ore and coal continued to lend support in the Pacific. On the period front, there was talk of a Dolphin 57 type failing subjects at $9,000 daily delivery north China for one-year trading, and a 50,000-dwt fixing for about four to six months at low $8,000s basis delivery CJK. A 63,000-dwt 2015-built was paid $10,500 daily delivery retro Durban for a minimum 100 days up to about six months period plus a ballast bonus of $300,000 with worldwide redelivery.
A trip from the US Gulf to Brazil went at $11,500 daily on a 55,000-dwt 2014-built. A 63,000-dwt 2016-built was fixed from east coast South America at $13,750 daily for a trip to Egypt early of the week, and a 63,000-dwt 2016-built was booked to perform a sugar trip from Santos to the Black Sea at a rate in the low $15,000s. From the Black Sea, a 56,000-dwt fixed at $9,000 daily for a trip to the Spanish Mediterranean, and a similar-sized delivery Canakkale reached the daily hire at $17,000 for a run to the Far East.
A nickel ore trip from the Philippines to China agreed $10,000 daily on a 56,000-dwt delivery Hong Kong and same level was reported on a 55,000-dwt delivery south China. Limited cargo from Indonesia to India but a 53,000-dwt open Surabaya was booked at $10,000 daily and a 55,000-dwt did $11,000 daily. A 56,000-dwt 2010-built was fixed at $11,600 daily delivery Singapore for a typical coal trip via Indonesia to China.
A moderately decent week in the handysize sector as the indices overall continued to climb with a small correction for US Gulf and east coast South America. Owners currently appeared to cover their positions with ease. With the number of prompt vessels dwindling many charterers looked to obtain forward cover with a view that August would see further market improvement. In the East, again sentiment was strong with fixtures improving on last done.
The Nordic Nanjing 2013-built 34,620-dwt fixed basis delivery Sweden for a trip to Egypt with sawn timber at $8,800 per day. There was a rumour circulating that J Lauritzen had fixed a 28,000-dwt vessel delivery dop Aviles via Averio to Douala with redelivery passing Abidjan at $9,400 per day. Sources revealed another 28,000-tonner was on subjects for transatlantic business in the mid $10,000s with east coast South America delivery and a 33,000-dwt for similar business at a rate in the low $11,000s.
In the East, the Ever Gallant 28,206-dwt 2012-built open Shidao was fixed for a trip to south east Asia at low $7,000s. Brokers reported the East Bangkok 2012 32,474-dwt covered a trip delivery Singapore via Australia to the Far East at $7,500 daily. A 36,000-tonner was linked to a daily hire of $8,250 delivery China for A NoPac round voyage with potash. The Destiny 2010 29,229-dwt open in Manila fixed $7,500 delivery aps Cigading for trip via east Kalimantan to west coast India. Also reported was the Lowlands Scheldt 2011 33,178-dwt open Jakarta 21/23 July covering for a trip via Australia to south China at close to $8,000 per day.
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