Weekly Bulk Report – Week 26, 2019

By
Mfame Team
-
1002

The Baltic Briefing has released a report about the dry bulk market of the 26th week of shipping activities of this year. The report dated 28th June highlights the plight of the dry bulk market at the on-sight of the 26th week.

Capesize

  • The market scenario showed variability last week with most of the routes being active yet showing different sentiments from region to region. 
  • The Pacific market thrived because of the inactive West Australian market. Charterers were usually able to achieve lower than last done, albeit with minimal trade volumes heard. 
  • A number of Asian vessels for Brazil rounds were heard at healthy levels, which showcased the options that the owners should choose. 
  • Along the west, Brazil to China voyage rates opened up steadily by the beginning of the week and declined at the end of the week.
  • The North Atlantic saw a consecutively higher fronthaul fixtures all through the week. Many of these stemmed from the Black Sea, which, while at a higher headline rate, were largely viewed lower on the case of being a shorter duration back to the East.
  • The C5TC opened the week at $17,947 to close Friday at $19,360. 
  • The West Australian C5 market opened the week at $7.45 to close the week out at $7.205. 

Panamax

  • Atlantic saw a strong week with sources commenting they had rarely seen so few available ships on early positions. The increase in the was above $2,500 during the week for transatlantic rounds. 
  • This agreed to upto $12,500 for a round, with a modern Kamsarmax, admittedly from a good delivery in Aughinish, via the US East Coast to Jorf Lasfar.
  • Meanwhile, Fronthaul rates also increased by over $1,500 on the week before, with a modern Kamsarmax fixed at $19,000 delivery Gibraltar for a long trip via the US Gulf and the Cape of Good Hope to the East.
  • Several other vessels were also fixed on the basis of delivery dropping outward pilot station (DOP) such as India for trips via South America, again, with a Panamax/Kamsarmax fixed at $12,000/$13,000 respectively. 
  • The East saw a slow pace, with the rates rising with respect to the improved market scenario.
  • A new building Kamsarmax ex-yard was reported fixed for one year at $12,250. The same charterer was later linked to another modern Kamsarmax in direct continuation at $12,200.

Supramax

  • Throughout the week, positive sentiment remained across all areas. 
  • On the period front, a few Ultramaxes were fixed at $11,000 for four to six months Atlantic trading. The Atlantic saw huge profits and gains.
  • From the East Mediterranean, a 63,000dwt vessel fixed at $19,000 with redelivery Indian Ocean. On the other hand, the US Gulf witnessed a 58,000dwt ship fixing for a trip to Japan at $19,000. 
  • East Coast South America was also thriving with Ultramaxes seeing in the $14,000s, plus $400,000s ballast bonus, for trips to Singapore-Japan. 
  • The Asian basin also gained momentum. For North Pacific round voyages, 60,000dwt vessels were seeing in the mid $8,000s. 
  • From Southeast Asia more coal was entering the market. A 56,000-tonner open Hong Kong fixed a trip via Indonesia, redelivery North China, at $8,500. 
  • Activity remained from the Indian Ocean, a 52,000dwt ship covering basis delivery for a Cape Town trip, via Saldanha Bay, to Singapore-Japan at $12,250 plus $225,000 ballast bonus.

Handysize

  • The Baltic Handysize Index (BHSI) remained stagnant this week with gains mainly from the Atlantic basin. 
  • More period fixtures were reported, with two 39,000dwt ships reportedly fixing at $11,000 basis delivery Tampico and Świnoujście respectively and both redelivery within the Atlantic. 
  • A 36,000-tonner open New Orleans in early July was fixed for three to five months at $11,000, also with Atlantic redelivery. 
  • East Coast South America saw a 28,000-dwt fixed for a trip to North Coast South America at $8,500. 
  • A large Handysize vessel, open Immingham, was fixed to the US Gulf at $8,500 for the first 40 days and $10,500 thereafter.
  • In the East, rates were stable but not showing any signs of improvement. A 38,000dwt ship, open spot in Hong Kong, was fixed at $9,000 basis passing Singapore for loading salt via West Australia to Japan.
  • Meanwhile, a 32,000dwt ship, open Portland, was booked to run via New Zealand to West Coast India at $8,000 plus a ballast bonus of $13,500.

Did you subscribe to our daily newsletter?

It’s Free! Click here to Subscribe!

Source: BalticBriefing