The Baltic Exchange has released a report about the dry bulk market for the 38th week of shipping activities of this year. The report dated 24th September highlights the dry bulk market conditions at the on-sight of the 38th week.
Another busy week in the Middle East and the Atlantic, which finally has led to some upward movement on the rates.
Middle East Gulf 280,000mt to US Gulf
In the Middle East Gulf, a 280,000-mt to US Gulf (via the Cape/Cape routing) is assessed just over a point higher at WS20.
270,000mt to China
270,000-mt to China improved 3.5 points to WS39 (which shows a trip TCE of about $1,900 per day).
Rates in the Atlantic
In the Atlantic, rates for a 260,000-mt West Africa to China are firmed by four points to between WS40-41 (a roundtrip TCE of $5,100 per day).
270,000mt US Gulf to China
A 270,000-mt US Gulf to China is now rated $756,000 higher than a week ago at $5.01 million.
West Africa rates
In West Africa, the rate for 130,000-mt Nigeria/UK Continent remains stuck at the WS52.5 mark (a round trip TCE of -$600 per day)
135,000mt Black Sea/Med
The rate for 135,000-mt Black Sea/Med continues to be at WS60 (a TCE round trip of -$6,700 per day).
Middle East market
The Middle East market had another busy week of fixing, with reports of Basrah/west voyages done by Turkish, Greek, and a couple of other oil majors at WS25 early in the week.
A French major oil company was reported to have fixed with east and west options from Basrah at WS27.5 for the Mediterranean.
The Baltic Exchange route of 140,000-mt Basrah/Lavera is now assessed at around the WS26.5 level, up to four points for the week.
In the Mediterranean, an 80,000-mt Ceyhan/Lavera climbed another two points just shy of WS90 ($2,000 per day TCE roundtrip).
In Northern Europe, an 80,000-mt Cross-North Sea remained steady at WS 92.5/93 level (a round trip TCE of -$5,300 per day).
Rates for 100,000-mt Baltic/UK Continent rose a point to WS61 (a TCE of about -$2000 per day round trip).
Across the Atlantic, rates for the 70,000-mt US Gulf/UK Continent were held at WS82.5/83 level (a TCE of $1000 per day round trip) while the market for the shorter local voyages tumbled 10 points as the position list of available tonnage became more populated.
Caribbean/US Gulf rate
A 70,000-mt Caribbean/US Gulf rate is now in the WS94 region (a TCE of $1,400 per day round trip)
70,000mt East Coast Mexico/US Gulf
The rate for 70,000-mt East Coast Mexico/US Gulf is dipping just below WS100 (a round trip TCE of $4,100 per day).
Middle East Gulf
The Middle East Gulf has seen freight rates generally sideways this week.
LR2s to Japan TC1
The LR2’s have had continued momentum this week and have subsequently gone up a further $195,000 to $2 million for the TC15 80k Mediterranean / Japan voyage.
Baltic Handy market
The Baltic Handy market has seen a steady flow of inquiry this week and TC9 30k Baltic / UK Continent has come up to WS125.
UK-Continent MR freight
On the UK-Continent MR, freight rates have seen more of the same WS100 as capacity is still oversupplied for TC2 37k UK-Continent / US Atlantic Coast.
37k Amsterdam to Lagos
TC19 37k Amsterdam to Lagos has felt the same effects as TC2 and still is being repeated at WS100 for the moment.
TC16 60k Amsterdam / Offshore Lome
On the LR1’s, TC16 60k Amsterdam / Offshore Lomé has seen some encouraging signs for owners, rising to around the WS82.5 mark in the latter part of the week and the reported sentiment for next week is, at time of writing, also firm.
In the Americas, there has been sustained activity throughout the week and freight levels are now seeing the appropriate upturn.
TC14 38k US Gulf / UK-Continent
The TC14 38k US Gulf / UK Continent has come up to around WS62.5, whilst TC18 35k from US Gulf / Brazil is pegged at the WS92.5 mark.
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Source: Baltic Exchange