Atlantic Supramax Scrap Market Moves Sideways in Week 16

96

  • Continent, Baltic Sea markets lose momentum amid subdued activity
  • Trans-Atlantic scrap rates recover amid positional tightness

The Supramax segment in Continental Europe and the Baltic Sea experienced a loss of momentum, with the scrap spot market witnessing softer freight rates in week 16.

Atlantic Supramax scrap market

Platts, part of S&P Global Commodity Insights, last assessed the 40,000 mt Rotterdam-Aliaga scrap route at $20.25/mt on April 19, down 5% on the week.

In the North Atlantic, US East Coast trans-Atlantic business fundamentals persisted with tight tonnage reported and firmer employment while spot rates found some positive ground.

Platts last assessed the 40,000 mt New Jersey to Aliaga trans-Atlantic scrap route at $24.50/mt on April 19, up 11% week on week.

The latest figures showed a positive supply balance at a spread of 10 more laden Supramax ships than ballasters the week of April 15-19 (week 16), with S&P Global Commodities at Sea data showing there were 19 laden ships against nine ballasting ships.

Time Charter Equivalent rates for the Rotterdam-Aliaga 40,000 mt Ferrous Scrap route, as well as for both 0.5%S marine fuels and scrubber-fitted ships have been pressured with levels pushing down.

Platts last assessed the Rotterdam-Aliaga 40,000 mt Ferrous Scrap Time Charter Equivalent rates for 0.5%S marine fuels at $15,885/d on April 19, down by 6% week on week. For scrubber-fitted ships were assessed at $17,373/d, also down 6%.

Meanwhile, the shipment of scrap cargoes and steel products via Supramax-Ultramax vessels from Northwest Europe, the Baltic Sea, and the Russian Baltic regions to Turkey and Turkish ports displayed markedly bearish sentiment during week 16, down 77% on the week, according to CAS data. However, the current week starting April 22 (week 17) has so far appeared to offer slightly more promise.

Did you subscribe to our daily Newsletter?

It’s Free! Click here to Subscribe

Source: SP Global