The Baltic Briefing has released a report about the dry bulk market of the 29th week of shipping activities of this year. The report dated 19th July highlights the plight of the dry bulk market at the on-sight of the 29th week.
Capesize
- Atlantic basin continued to be pressurised on tonnage and Brazilian cargoes keep up a steady flow.
- The Capesize 5TC opened the week at $26,705 to close Friday at $32,765, an increase of more than 22%.
- The Brazilian iron ore market was strong early this week, with most charterers, owners, operators and traders all present at some stage.
- The C3 rate levels varied wildly on date-specific terms with usually only the trade participants knowing the true value at that time.
- The Pacific took a back-step to this activity but was equally affected by it.
- Transatlantic C8 and Pacific round voyage C10 lifted to attract vessels, the ones booked in on period and trip charters in the Pacific equally traded for Pacific or Atlantic cargoes.
- The West Australia C5 route opened at $9.277 to close Friday at $10.90.
Panamax
- Continued improvement on all routes, with the North Atlantic facing fewer trades last week, but with the limited tonnage, round voyage rates rose over $1,700 daily.
- Fronthaul trade jumped by more than $3,000 daily, with a Panamax reported at $32,000 for a trip via Murmansk to China of about 70 days duration.
- South America seemed to pause midweek, however, activity quickly resumed and rates are now higher even for forward positions into the second half of August.
- The Pacific also witnessed steady increases finishing the week up $1,550 for rounds.
- There were few stand-out fixtures from Australia, with a Panamax taken for a salt stem at $20,000 from South China.
- The period market was especially busy early this week, with owners happy to take advantage of the present bullish spot market, that is set to continue in the near term.
Supramax/Ultramax
- The Baltic Supramax Index (BSI) made solid gains over the week with demand from most areas.
- Period market was active, with new-build Ultramaxes fixing between $12,000 – $13,000 ex-yard for a year.
- Cover was also sought in the Atlantic on a 60,000 dwt vessel open Mediterranean fixing four to six months re-delivery in the Atlantic at $15,500.
- A 56,000 dwt ship covered a trip from Egypt, via the Black Sea, re-delivery in the Philippines, at $24,500.
- The US Gulf remained steady, with Ultramaxes seeing mid-upper $20,000 s for fronthaul business.
- The Asian arena saw increased activity and stronger numbers being concluded.
- Ultramaxes achieved in the upper $10,000- $11,000 s for Pacific rounds.
- From Southeast Asia, Indonesian rounds remained firm, with a 61,000-tonner fixing delivery Vietnam, via Indonesia, re-delivery South China, at $11,500.
- From the Indian Ocean a 57,000 dwt vessel, open Arabian Gulf, fixed for two to three laden legs, re-delivery Arabian Gulf/Japan range, in the mid $14,000 s.
Handysize
- Overall Baltic Handysize Index (BHSI) climbed further this week, with the Pacific routes making gains and finally back in the positive.
- The US Gulf showed some minimal easing signs, whilst firm rates remained in the East Coast South America market.
- At start of the week, a 39,000 dwt ship was fixed from Karmoy for a trip to Veracruz at $7,500. $23,000 was registered on a 38,000 dwt vessel, basis Recalada to China.
- From the Black Sea, a 32,000-tonner was fixed to India at $15,000 and in the East, brokers suggested the market was firming with less spot tonnage.
- A 34,000 dwt ship open South Australia was fixed at $9,000 for a two to three laden leg trip.
- Handysize vessel open Indonesia fixed at $8,000 for trip back to the Far East, and North Pacific trip at $6,500 on 33,000 dwt ship basis Japan delivery and Australia re-delivery.
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Source: BalticBriefing
