The Baltic Exchange has released a report about the dry bulk market for the 13th week of shipping activities this year. The report dated 17th April 2023, highlights the dry bulk market conditions at the on-sight of the 15th week.
Capesize
Weather factors in the Pacific this week threatened to disrupt activity from West Australia to China. However, other than Port Hedland closing on Thursday, there was a steady flow of fixing which resulted in a rather volatile week. Several vessels were fixed by the middle of the week from East Coast Australia to China with coal, which offered support to the market at the time. By the end of the week, with these cargoes gone, confidence began to slip as did the rates. The North Atlantic witnessed more activity during the week resulting in less available tonnage and improvement in sentiment. However, the list of ballasters from the Pacific has continued to grow which could potentially cap any upside from South Brazil. There has also been a slight increase in activity from West Africa. All in all, a mixed bag with the 5TC’s starting the week after the Easter weekend at $15,849 and ending the week at $15,344.
Panamax
In a week disrupted at both ends by Easter holidays, the market has lost ground and tonnage lists grew in both basins. Overall it was subdued in the Atlantic with Owners having to reduce offers to find cover. A scrubber fitted 82,000-dwt was fixed for a ECSA grain cargo redelivery Skaw-Gib at $16,250, and a 75,000-dwt fixed for a grain cargo from ECSA for Singapore-Japan at $17,250. In the Pacific it was a similar story with prompt Indonesian trips covered quickly and a lack of longer duration enquiry. There has been some short period fixing. A 76,000-dwt fixed for four to six months at $14,000 pd, and a 76,000-dwt fixed for similar period at $15,800.
Ultramax/Supramax
With widespread holidays both at the beginning and end of the week it was a rather muted affair for the sector. The Atlantic remained rather positional with sentiment remaining relatively strong from the US Gulf and a tightness of larger vessels from the South Atlantic, but other areas lacked fresh impetus. The Asian arena saw sentiment remain soft with limited fresh enquiry from the south and a build-up of prompt tonnage downward pressure on rates remained. Period activity remained limited, although a 54,000-dwt open Indian Ocean was rumoured fixed in the low $13,000s for one year. Some brokers did say that rate was closer to low $14,000s. From the Atlantic, a 52,000-dwt fixed delivery United Kingdom trip via Continent with scrap to the East Mediterranean at $13,000. Elsewhere, a 54,000-dwt fixed delivery Santos for a trip to Malaysia at $14,000 plus $400,000 ballast bonus. Asia, saw a 63,0000-dwt open Taichun fix a trip via West Australia with salt redelivery Japan at $13,400. Otherwise, an Ultramax was heard fixed for a trip delivery Samarinda redelivery full India at $12,000.
Handysize
In a short week bookended by holidays, visible activity remained limited. The Atlantic showed signs of positivity with brokers speaking of more enquiry in general. In East Coast South America a 38,000-dwt fixed basis delivery when we’re ready San Nicolas for a trip to West Coast South America at $23,000, whilst another 38,000-dwt fixed basis delivery Rio Grande for a trip to Caldera with an intended cargo of grains at $22,500. A 43,000-dwt open prompt in Bizerte was rumoured to have been fixed for a trip to the Arabian Gulf at around $18,500. In Asia, prompt vessels continued to see levels soften with a 37,000-dwt fixing from Japan to Boston-Vera Cruz range at $11,250. A 39,000-dwt fixed from Sun Duong via Indonesia to China at $7,000. A 34,000-dwt open in Zhoushan with prompt dates was rumoured to have been placed on subjects for a trip via Eastern Australia to Japan with an intended cargo of sugar in the $7,000s.
Did you subscribe to our daily Newsletter?
It’s Free! Click here to Subscribe!
Source: balticexchange
