The week started and ended on an upward feeling for the west Australia to China route with current levels hovering around the mid $5 mark. The Atlantic was lacking fresh cargo and brokers suggesting a slightly weaker tone there.
Rio Tinto had been active during the week taking a number of vessels initially at $5.80 and further tonnage at $5.55, finally paying another vessel $5.40. Anglo American fixed a couple of vessels for Saldanha Bay to Qingdao at $9.90 level.
Timecharter activity was limited, the Great Song (Noble) 180,388-dwt 2011-built was said to have fixed a Pacific round voyage at around $9,500 with Pacific Bulk and earlier in the week Oldendorff had fixed the Rosco Maple 181,453-dwt 2010- built open CJK end July at $12,000 daily.
Mid week there was talk of Vale fixing two or three vessels for Tubarao to Qingdao, some suggesting the Seamate (177,775-dwt 2010-built) and a Classic Maritime newcastlemax at around $13.00 level, maybe even a further vessel, however nothing has been confirmed.
Panocean won the Posco tender for 120,000-dwt 10% cargo loading seven islands for Pohang 10/19 August at $20.79 and were rumoured to have fixed the Sea Behike 180,491-dwt 2016-built) open Port Talbot prompt for this at $23,200 level. Earlier in the week it was rumoured that Classic Maritime had fixed the Pacific Canopus, 9180,330-dwt 2012-built) open in Gdansk, basis delivery Skaw for a trip to the far east or possibly two legs to the far east at around $19,000 daily.
Star Ariadne (207,812-dwt 2017-built) fixed for 190,000 10% Tubarao to Qingdao basis 15/25 Aug at $13.20 with an option for only 180,000 10% at $13.45 with Cargill. Today there was talk of the Rini (177,809-dwt 2010-built) which had failed earlier in the week, being fixed by Panocean for Tubarao to Qingdao at a level around $13.00 or possibly $13.15.
SwissMarine fixed the Ever Beauty (180,156-dwt 2011-built) which recently sailed from Ijmuiden, basis delivery Falmouth spot for a trip via Puerto Bolivar to Skaw-Passero at $7,000 daily, it is likely this will be a cargo to Turkey.
After last week’s gains, this week was very different, routes across the board lost ground. Period activity remained quiet except for a couple of rumours of a 75,000-dwt 2007-built open China was linked to a short period with some saying a rate between $8,000 and $9,000 daily earlier in the week an 81,900 dwt 2017-built open China was reported fixed for three-five months redelivery worldwide at $11,000 daily.
In the Atlantic an 81,800-dwt 2015-built was fixed basis delivery east coast South America for a trip redelivery Continent at $14,000 and a 77,700-dwt was fixed for a South America fronthaul at $10,500 daily plus $550,000 ballast bonus. A 75,100-dwt did a similar run but with redelivery Indonesia at $10,250 plus $525,000 ballast bonus. In the north Atlantic a 84,700-dwt 2016-built was fixed basis delivery Immingham for a trip via the Continent and Baltic to the Red Sea with redelivery Port Said at $12,000 daily.
Asia saw a bit more activity albeit the rates remained under pressure, a 79,300-dwt 2015-built was reported fixed basis delivery China end July for a trip via east coast Australia redelivery India at $7,500 daily and a 81,400-dwt 2010-built open Xingang was fixed for NoPac round at $8,750 daily. For the Australian rounds, a 82,200-dwt 2015-built was fixed basis delivery Japan via Australia redelivery Japan at $8,250.
It remains to be seen how next week panes out, brokers are saying that it is evenly balanced.
The Black Sea market remained positive, whilst rates from east coast South America and the US Gulf both moved further down. The Pacific market softened since the beginning of the week and coal cargoes from Indonesia were said to be less active. On the period front, a 50,000-dwt 2002-built delivery CJK was fixed at $8,150 daily and a 56,000-dwt 2014-built delivery in the Baltic was fixed at $10,000 daily, both for four to six months trading with worldwide redelivery.
From the US Gulf, a 61,000-dwt 2010-built was fixed at $12,750 daily to Turkey early of the week. Another similar sized vessel was booked for a similar run at $12,000 daily recently. A scrap trip paid around $10,000 daily on a 47,000-dwt 2014-built delivery Ghent via the Continent to Black Sea /east Mediterranean. A 58,000-dwt 2010-built was paid $11,500 daily from Recalada to the Continent and another 61,000-dwt was booked basis redelivery in Chile at $17,000 daily from east coast South America.
In the east, a 55,000-dwt 2011-built was fixed at $12,000 delivery Singapore for a trip via Indonesia to China, and a 58,000-dwt was fixed for the same route at $11,250 daily with the same delivery. A NoPac round voyage paid $9,000 daily on a 60,000-dwt delivery in north China
A positive week for Asia and the Continent but US Gulf and east coast South America lost more ground with some suggesting the downward trend will continue to fall in these areas. Apparently stems continue to hit the market from the Black Sea with prompt dates placing pressure on the supply side going into early August. Brokers still feeling that Asia and the Far East sector has room for further slight improvement.
On the period front, the Zambesi 2013-built 34,205-dwt open Swinoujscie fixed $8,950 daily basis delivery dop for minimum three to about five months with redelivery Boston/Bahia Blanca and Skaw/Passero ranges. In the east it was suggested similar tonnage was asking similar money for short period. A 32,000-dwt vessel was being linked to a fixture for three-five months at a rate close to $7,400 daily basis delivery CJK and another similar size was allegedly taken delivery Singapore for two-three laden legs at a rate in the mid $7,000’s.
The recently launched Newchang built April 2017 39,000-dwt covered a trip to US Gulf delivery London at $8,500 per day. Apparently the Orion Bay 2012-built 30,009-dwt open Ronnskar was taken at a rate in the high $8’000s for trip via Baltic to Black Sea with a scrap cargo. Sources revealed the St. George 2009-built 32,688-dwt fixed a trip delivery Canakkale at $7,750 to Western Mediterranean. The Emerald Bay 2008-built 32,258-dwt open Algiers 28/31 July fixed $8,250 delivery Gibraltar for trip via Continent to West Africa and the Ken Goh 2001-built 31,939-dwt accepted delivery Tunisia 28-29 July at $6,000 for a trip via Mediterranean to North Coast South America.
Rumours of a 29,000-dwt covered a sugar cargo delivery Kosichang trip Indonesia at $7,200 per day while a 36,000 tonner was on subjects with a cement cargo delivery CJK to Singapore at $8,500. The Western Panama 2015-built 39,300-dwt open Tianjin 26 July covered a trip into Japan at a level suggested in the high $8,000’s. The CMB Liliane 2011-built 33,647-dwt was covered for delivery Lahad Datu for a salt cargo via Australia to China at $8,000 per day. Sources revealed the Yangtze Grace 32,503-dwt 2012 built was fixed for a trip delivery CJK to Surabaya with steels at a rate in the region of $7,750 per day.
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