The Baltic Exchange has released a report about the dry bulk market for the 49th week of shipping activities this year. The report dated 09th December highlights the dry bulk market conditions at the on-sight of the 49th week.
The Capesize market was positive over the week, rising in excess of $1,200 to close at $13,957. In the Pacific, the rates for the west Australia to Qingdao trade were defined by pre or post-Christmas loading, with more prompt-dated vessels getting paid a premium. The Brazil to Qingdao and the west Australia to Qingdao trades were wandering in the $19s and $8s throughout the week, with a lot of fixtures reported on C5 – in particular in the runup to year end. The laycan window for loading in Brazil has now completely moved to the first half of January next year, again early dates were paid a significant premium. Brazil has its rainy season starting in December with the worst weather expected in the upcoming January to February. As a consequence, the volume may drop dramatically. Otherwise, the Atlantic basin remained largely uneventful this week.
A firmer week in the Atlantic market, yielding modest rate gains for the owners. The North Atlantic witnessed a mineral cargo push later in the week, with $17,000 concluded a few times for Transatlantic rounds with December cancelling dates. This in turn supported rates for the longer rounds as owners looked for employment to tie them over and beyond the holiday period. Charterers duly obliged with steady rates agreed for laden legs and the US Gulf fronthaul run, which remained steady all week. A mixed looking picture emerged in Asia. The was an up-tick in demand on the Indonesia to China supply transpiring as a catalyst for slightly firmer numbers on these trips and filtering into the longer NoPac round trips. The median rate NoPac round trips was $11,500, but as we approach the weekend we end with a sizeable bid/offer gap with neither side willing to concede for now.
It was a rather patchy week overall for the sector. From the Atlantic, the US Gulf was the only area to gain traction as demand remained healthy for prompt requirements. Otherwise, most regions lacked much fresh impetus. The Asian arena, having started with a fair amount of demand at the beginning, saw little excitement as the week ended and rates in most places saw downward pressure. Period activity was seen, however, and a 63,000-dwt open Philippines fixed three to five months trading at $14,000. From the Atlantic, a 56,000-dwt fixed delivery SW Pass for a petcoke run to China at $27,000. Elsewhere, supramax sizes were seeing around $11,000-$12,000 for scrap runs from the Continent to the East Mediterranean. From Asia, a 56,000-dwt fixed from North China to the Arabian Gulf in the low $7,000s. A 63,000-dwt also fixed delivery North China via Indonesia redelivery Philippines at $10,500. There was a bit more activity in the Indian Ocean, a 63,000-dwt fixed delivery Port Elisabeth for a trip to China at $19,500 plus $195,000 ballast bonus.
Asia has remained balanced in recent days and despite a lack of visible activity the Atlantic saw mixed results. The Continent was said to lack spot cargoes, leading to some Owners discounting. A 30,000-dwt was fixed from Dunkirk to Morocco with an intended cargo of grains at $8,250 and a 35,000-dwt fixed from Hamburg to Morocco at $8,750, also with an intended cargo of grains. The South Atlantic has been active with a 40,000-dwt fixing from Recalada with mid-December dates to Fortaleza at $25,750. A 34,000-dwt fixed Recalada to Paranagua at $22,000. In Asia, a 37,000-dwt scrubber-fitted vessel was fixed from Japan via Newcastle to China with an intended cargo of concentrates at $12,700 – with the scrubber for Charterers’ benefit. A 37,000-dwt was rumoured to have been fixed from South East Asia via Australia for a round voyage at $11,500 earlier in the week.
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Source: Baltic Exchange