Weekly Bulk Report – Week 35, 2021

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The Baltic Exchange has released a report about the dry bulk market for the 35th week of shipping activities of this year. The report dated 03rd September highlights the dry bulk market conditions at the on-sight of the 35th week.

Capesize

Since last Friday, the 5TC has retreated $4452 to end out at $46,647, indicating that the Capesize market has crested. The North Atlantic basin, which had been essentially dormant for several months, has exploded since mid-August, settling at $52,099 on the Transatlantic C8 and $79,600 on the Fronthaul C9 today. The frontal route has been highly erratic, with considerable fluctuations in tonnage returning to the far east between days. Further south, the Brazilian market to China dropped during the week and is currently roughly on a level with the Pacific basin’s value for tonnage. The price of the travel route Brazil to China C3 dropped by 2.605 percent to $33.165.The market was lively in the Pacific, with various coal and iron ore views, although West Australia to China C5 fell 1.282 to $13.668 as the region’s tonnage alternatives were heard. While the Capesize market retraced its tracks slightly this week, owners’ earnings remain strong and healthy as we enter the sector’s usual high-earning season.

Panamax

This week, the Panamax market saw significant corrections, notably in the Atlantic, as pressure was exerted throughout the week due to a fundamental lack of demand, particularly for Transatlantic trades. In contrast, Asia saw robust cargo volumes from all three significant origins, Australia/North America/Indonesia, resulting in well-balanced pricing. As we reached the weekend, though, anxiety in the Atlantic physical and FFA markets also appeared to be affecting the basin. Limited trades were recorded from South America, with an 82,000-dwt delivery Thailand agreeing to a $35,500 for a journey via EC South America redelivery Far east. An 82,000-dwt delivery in the Pacific An 82,000-dwt delivery. The Philippines agreed to a $37,000 for a journey via Indonesia redelivery China, whereas a voyage via NoPac redelivery Singapore-Japan fetched $37,000. The period activity was sparse. However, there were stories of an 82,000-dwt truck earning $27,000 for 10-12 months of work. 

Ultramax/Supramax

The BSI closed at 3,348, down 122 points from the previous week, following a week of declines across most routes. With Hurricane IDA, the US Gulf lost steam as cargo supplies dwindled, and new inquiries from South America were few. Due to a reduction in congestion in China, tonnage availability increased, offering charterers more options. Overall, there was little period activity, with a 63,000-dwt open south China fixing four to six months selling at $41,000. A 58,000-dwt fixed delivery east coast South America cruise to Bangladesh was heard from the Atlantic for a $25,000 + $1.475,000 ballast incentive. A 63,000-dwt was fixed at $49,000 for a cruise from the north coast of South America to India. A 63,000-dwt open Cebu was set at $43,000 for a trip to east coast India-Bangladesh from Asia. For Pacific round voyages, a 63,000-dwt open South Korea was rejected for redelivery Singapore-Japan via Australia at the cost of $40,000.

Handysize

In contrast to the previous week, BHSI lost ground overall as demand declined in locations such as the Gulf of Mexico and the east coast of South America. Similarly, in the Asian market, rates lowered due to fewer new inquiries, resulting in a higher volume of immediate tonnage. Although there was only little period activity, a 33,000-dwt was recently fixed from the north coast of South America for three years for $17,000. A 33,000-dwt open Algerian vessel was also said to have set a five-to-seven-month trade redelivery Atlantic price of roughly $34,500.Pressure from the US Gulf of Mexico lowered the price of a 38,000-dwt ship to approximately $22,000 for a trip to the Continent. A 32,000-dwt was established delivery Canakkale for a trip to West Africa for $42,000 from the east Mediterranean. Limited activity was heard from Asia, as brokers reported a reduction in the cargo business, with owners looking to the coming week to see if the trend would reverse.

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Source: BalticExchange

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