The Baltic Exchange has released a report about the dry bulk market for the 21st week of shipping activities of this year. The report dated 28 May highlights the dry bulk market conditions at the on-sight of the 21st week.
Capesize
It was a dismal week throughout for Capesize earning as all routes softened in what was a largely disrupted week due to numerous public holidays around the globe.
Transpacific C10
The Transpacific C10 opened the week at $40,246 and any upward momentum quickly plateaued before positive sentiment was extinguished for the route to close the week out on consecutive drops to $30,976.
Transatlantic C8
The Transatlantic C8 faired no better, all but hitching onto the downward rollercoaster to now rate as the lowest paying region at $20,425.
Ballaster routes
The ballaster routes had small smatterings of business there was little to get excited about as the C14 nosedived a relatively smaller amount of $4,057 to $25,014.
Chatter throughout the week was on the low side with most unsure of where a floor could, or would, be found. The paper derivatives market was heard to have numerous spasms of strong activity, stoking hopes and fears alike, but all moves seemingly failed to build momentum and build confidence that they knew any better where this market is heading.
Panamax
A week disrupted somewhat by holidays saw the panamax market set off in an inauspicious tone.
Transatlantic market
The transatlantic market was described as attritional throughout with delivery APS load port fixtures the norm early in the week equating to very low equivalent rates back to Gibraltar-Skaw delivery, until a surge of fixing late Thursday returned better levels.
Fronthaul trading
Fronthaul trading remained well supported throughout, $34,000 around the mean average on the week for trips via NC South America. In Asia, NoPac was generally softer all week with an over-supply of tonnage on nearby dates.
A 77,000-dwt delivery North China agreed $26,500 for said trip, the bulk of the action here remained on the mineral rounds out of Indonesia. And for the most part rates tried to resist the downward pressure but were forced down by end of the week, with an 82,000-dwt delivery Taiwan agreeing $24,000 for a trip via Indonesia redelivery Philippines.
Ultramax/Supramax
With various holidays during the week it was a staggered market. Whilst the Atlantic picked up as the week progressed, sentiment eased in the Asian arena towards the end.
Period activity was seen with a 56,000-dwt open south east Asia fixed in the low $30,000s for a short period.
From the Atlantic, there were better rates in many areas with a 63,000-dwt fixing a trip from US east coast to the UK at $30,000. Supramax sizes were seeing in the mid $20,000s for Continent to the east Mediterranean.
From Asia, as tonnage availability increased with less fresh enquiry, a supramax open Singapore was fixed for a trip via Indonesia redelivery China at $23,500 whilst nickel ore runs were being concluded in the mid-upper $20,000s.
The Indian Ocean remained firm with ultramax size seeing in the upper $19,000s and upper $900,000s for trips from South Africa to China. Whilst a 52,000-dwt fixed a trip from west coast India via Arabian Gulf redelivery Bangladesh in the $30,000s.
Handysize
In a week interrupted by holidays in both Atlantic and Asia markets, the BHSI has retained its positive sentiment in many areas. Brokers felt the market in Asia was quieter this week and that the tonnage was still tight with rates remaining fairly settled.
The Paiwan Wisdom (31,900 2010) open South Japan 5-10 June fixed four to six months redelivery worldwide excluding India at $25,000.
The Sun Aquamarine (32,221 2008) was fixed basis delivery Dakar 2 June for about 12 months with redelivery Atlantic Excluding West Africa at $15,000 to Fednav.
The Bright Star (34,529 2011) open Sea of Marmara prompt fixed for minimum six to eight months at $21,500 to Lighthouse. In East Coast South America the Dodo (39,017 2013) was fixed basis Delivery Recalada for a trip to West Coast South America with an intended cargo of grains at $32,000. A 37,000-dwt was fixed on subjects from South Brazil via River plate to the Continent at $25,000.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Baltic Exchange
