The Baltic Exchange has released a report about the dry bulk market for the 32nd week of shipping activities of this year. The report dated 13th August highlights the dry bulk market conditions at the on-sight of the 32nd week.
VLCC
Middle East for 280,000mt to US Gulf
The diabolical market continues with rates in the Middle East for 280,000mt to US Gulf (routing via the Cape/Cape) in the WS18-18.5 region while 270,000mt to China is valued at the WS31 level (showing a round-trip TCE of $-4,200/day).
West Africa to China
In the Atlantic, rates for 260,000mt West Africa to China are again at the WS33 mark (a TCE of $-800/day round trip) and 270,000mt US Gulf to China saw a drop of $62,500 to $3.95 million (a roundtrip TCE of $1,300/day).
Suezmax
West Africa
In West Africa there was a little more enquiry than has been typical of late, which caused a modest 1.5 point improvement in rates for the 130,000mt Nigeria/UK Continent market to the WS54 level (a round trip TCE of $1,900/day).
135,000mt Black Sea/Med
Rates for 135,000mt Black Sea/Med rose 1 point to about WS58.5 (a round-trip TCE of about $-5,800/day).
Middle East market
The Middle East market remained busy this week and rates for the 140,000mt Basrah/Med trip pegged at the WS26 mark, although it is worth noting that Exxon are reported on subjects with a Delta suezmax 140,000mt at WS27.5 for a trip Basrah/West.
Aframax
Mediterranean market
In the Mediterranean, the market for 80,000mt Ceyhan/Lavera remains pegged at the WS85-86 mark (showing a round-trip TCE of $2,300/day).
Northern Europe market
In Northern Europe the market for 80,000mt Cross-North Sea remained flat at the WS94 level (a round trip TCE of $-3,400/day).
100,000mt Baltic/UK Continent market
In the 100,000mt Baltic/UK Continent market rates eased three points to about WS57.5 (a round trip TCE of $-2,100/day).
Caribbean market
Across the Atlantic, the Caribbean market remained static with rates for 70,000mt Caribbean/US Gulf at WS75 (a round-trip TCE of $-1,800/day).
Gulf of Mexico
The Gulf of Mexico region has seen a tightening position list leading to a slightly more positive sentiment.
70,000mt East Coast Mexico/US Gulf rates
Rates for 70,000mt East Coast Mexico/US Gulf gained 3.5 points to WS82.5 (a TCE of about $-350/day round trip).
70,000mt US Gulf/UK Continent
The market for 70,000mt US Gulf/UK Continent improved by 2.5 points to WS69-70 level (showing a round trip TCE of $-1,200/day, which would be positive basis one-way economics).
Clean
The Middle East Gulf has seen continuing healthy activity levels driving freight rates upwards.
LR2s to Japan TC1
On the LR2s to Japan TC1 rose 10.41 points to WS103.33, a round-trip TCE of $9,584/day.
TC5 55k Middle East Gulf / Japan
The LR1’s have been particularly busy and TC5 55k Middle East Gulf / Japan now at WS140.36 up WS31.43 points, a round-trip TCE $14,005/day.
TC8 Middle East Gulf / UK-Continent
TC8 Middle East Gulf / UK-Continent also continued to surge and is now marked at $30.92/ton (up $6.38/Ton).
MR rates
MR rates 35k Middle East Gulf / East Africa (TC17) climbed another 13.5 points to WS189, showing a round-trip TCE of $11,257/day.
Mediterranean Handy market
The Mediterranean Handy market has seen more of the same with rates mainly sideways, only to be tested a little as the week progressed.TC6 30kt Skikda / Lavera ended up at WS116.38 (down WS1.43).
TC15, 80k Mediterranean / Japan
The LR2s however, have seen some positivity at the end of the week and TC15, 80k Mediterranean / Japan is up $85,000 to $1.685 million.
Stability prevailing in the Baltic Handy market, rates have held until the end of the week.
UK-Continent
TC9 30k Baltic / UK-Continent dropped a little to WS143.57 (down WS0.71).
On the UK-Continent MR freight levels have degraded through the week, and the TC2 37k UK-Continent / US Atlantic Coast is now at WS110 (down WS24.72), showing a round-trip TCE of $2,264/day.
Amsterdam to Lagos
TC19 37k Amsterdam to Lagos also showed a similar decline to WS115.83 (down WS25).
TC16 60k Amsterdam / Offshore Lome
The LR1s on TC16 60k Amsterdam / Offshore Lome have remained relatively unfazed thus far and currently up 1WS to WS81.
A busy start to the week in the Americas pushed a temporary spike in rates that then resettled.
US Gulf / UK-Continent
TC14 38k US Gulf / UK-Continent route now at WS81.79 (up WS1.08).
US Gulf / Brazil
TC18 35k from US Gulf / Brazil, after the fluctuation ended up at WS119.58 (up WS2.5).
MR Atlantic basket TCE
The MR Atlantic basket TCE dropped from $7803/day to $5709/day.
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Source: Baltic Exchange
