The Baltic Exchange has released a report about the dry bulk market for the 39th week of shipping activities of this year. The report dated 01st October highlights the dry bulk market conditions at the on-sight of the 39th week.
VLCC
The Middle East remained active this week, whilst the Atlantic region seemingly quietened, and rates continued to climb albeit at a glacial pace.
Middle East Gulf 280,000mt to US Gulf
In the Middle East Gulf 280,000mt to US Gulf (via the Cape/Cape routing) continues to be assessed WS20.5-21 level while 270,000mt to China rose two points to WS41 (showing a roundtrip TCE of $3.2k per day).
West Africa to China rates
In the Atlantic, rates for 260,000mt West Africa to China rose two points on the back of Middle Eastern firmness to WS43 ($6.8k/day roundtrip).
US Gulf to China rates
270,000mt US Gulf to China is now rated a modest $20k higher at $5.125m (a TCE of $9k per day roundtrip).
Suezmax
West Africa the rate
In West Africa the rate for 130,000mt Nigeria/UK Continent improved by two points to almost WS55 (a roundtrip TCE of about $zero).
Black Sea/Med rates
The rate for 135,000mt Black Sea/Med mirrored this rise to WS62 (a TCE roundtrip of minus $6k per day).
Middle East market
The Middle East market continues to be active with reports of Basrah/West voyages done by European charterers, reflected in the assessment of 140,000mt Basrah/Lavera now at WS27, unchanged from a week ago.
Aframax
80,000mt Ceyhan/Lavera rates
In the Mediterranean, rates for 80,000mt Ceyhan/Lavera were pushed up 10 points to WS100 ($6.3k per day TCE roundtrip).
80,000mt Cross-North Sea rates
In Northern Europe the market for 80,000mt Cross-North Sea saw a 2.5 point gain to WS95 (minus $4k/day TCE roundtrip).
100,000mt Baltic/UK Continent rates
The 100,000mt Baltic/UK Continent route also advanced two points to WS63 (a TCE of about minus $2k per day roundtrip).
70,000mt US Gulf/UK Continent rates
Across the Atlantic, rates for the 70,000mt US Gulf/UK Continent fell 2.5 points to WS 80 (a TCE of minus $300/day roundtrip, or a much more positive TCE if a single trip).
The market for the shorter local voyages tumbled further.
70,000mt Caribbean/US Gulf rates
For 70,000mt Caribbean/US Gulf the rate is now assessed 10 points lower week-on-week at WS81.5 (a TCE of minus $3.1k/day roundtrip).
70,000mt East Coast Mexico/US Gulf rates
The rate for 70,000mt East Coast Mexico/US Gulf had 13 points deducted over the week to WS84.5-85 region (which shows a roundtrip TCE of minus $1.8k/day).
Clean
Another week of balance between supply and demand in the Middle East Gulf and subsequently rates have remained relatively stable.
LR2s to Japan TC1
On the LR2s to Japan TC1 has dropped 2.21 points to WS105.36, a round-trip TCE of $8,565/day.
LR1 rates
The LR1’s, despite increased volumes, have also dropped and TC5 55k Middle East Gulf / Japan is now at WS103.57.
MRs
On the MRs, 35k Middle East Gulf / East Africa (TC17) has resettled region WS195.
Mediterranean Handy market
Continued momentum in the Mediterranean Handy market this week and TC6 30kt Skikda / Lavera has been tested up WS13.75 points to WS130.63.
LR2 rates
The LR2’s peaked at around $2.1m early in the week for the TC15 80k Mediterranean / Japan run, charterers drew a line in the sand to quell sentiment and the market has now returned to the $2.0m mark.
Baltic Handy market
The Baltic Handy market saw freight rates tested up early in the week, as a result of a lack of tonnage at the front end of the list. As the week progressed, TC9 30k Baltic / UK-Continent then settled out to WS130.
UK-Continent MR freight levels
On the UK-Continent MR freight levels have continued along at WS100 for the TC2 37k UK-Continent / US Atlantic Coast. TC19 37k Amsterdam to Lagos also remains WS100. The excess of available capacity in the region still needs to be cleared out before freight rates can see any real upward progress.
LR1s freight levels
On the LR1s, TC16 60k Amsterdam / Offshore Lomé freight levels have been further pushed up this week and at time of writing WS87.5 is reported on subjects.
Americas
In the Americas, healthy activity levels for a second week running have provided the area with another boost. TC14 38k US Gulf / UK-Continent has come up WS17.5 to WS80.36 and TC18 35k from US Gulf / Brazil has risen WS28.75 to WS120.83.
