The Baltic Exchange has released a report about the dry bulk market for the 42nd week of shipping activities of this year. The report dated 22nd October highlights the dry bulk market conditions at the on-sight of the 42nd week.
VLCC
Another week of modest gains from both Middle East and Atlantic regions.
280,000mt Middle East Gulf to US Gulf
Rates for 280,000mt Middle East Gulf to US Gulf (Cape/Cape routing) are assessed a point firmer at WS21.5 level.
270,000mt Middle East Gulf to China
270,000mt Middle East Gulf to China rose 3 points to WS43.2 (a roundtrip TCE of $2.2k/day).
260,000mt West Africa to China
In the Atlantic, rates for 260,000mt West Africa to China rose 2 points to almost WS45.5-46 level (a TCE of $6.3k/day roundtrip).
270,000mt US Gulf to China
270,000mt US Gulf to China is $10k up on last week at $5.4875m (a TCE of $8.9k per day roundtrip).
Suezmax
130,000mt Nigeria/UK Continent
In West Africa a tightening position list and higher demand saw the rate for 130,000mt Nigeria/UK Continent climb 6 points to WS78 (showing a roundtrip TCE of about $8.2k/day).
135,000mt Black Sea/Med
The rate for 135,000mt Black Sea/Med rose 7 points to WS82 (a TCE roundtrip of about $3.9k per day).
140,000mt Basrah/Lavera
The Middle East market was busy again and the rate for 140,000mt Basrah/Lavera pushed up 5 points to WS50.
Aframax
80,000mt Ceyhan/Lavera
In the Mediterranean, the market was firmer and the rate for 80,000mt Ceyhan/Lavera recovered about 6 points to WS106 ($6.1k per day TCE roundtrip).
Northern Europe the market
In Northern Europe the market for 80,000mt Cross-North Sea and 100,000mt Baltic/UK Continent remained flat at WS107.5 level ($450/day TCE roundtrip) and WS80 (a TCE of about $4.5k per day roundtrip) respectively.
The Atlantic market
Across the Atlantic, the market peaked early in the week and has eased slightly.
70,000mt US Gulf/UK Continent
Rates for 70,000mt US Gulf/UK Continent slipped 2 points to just below WS132 (a TCE of $12k/day roundtrip).
Local short voyages
The shorter local voyages dropped 5 points each; 70,000mt Caribbean/US Gulf is now WS146.5 (a TCE of $15.2k/day roundtrip).
70,000mt East Coast Mexico/US Gulf
70,000mt East Coast Mexico/US Gulf is now WS151.25 (translating to a round-trip TCE of $18.9k/day).
Clean
The Middle East Gulf has appeared to be in a state of flux this week. Freight rates on the bigger size vessels have remained largely stable with just enough open enquiry to maintain the same.
LR1s, LR2s and MRs
On the LR2’s TC1 rose 2.16 points to WS 92.16, a round-trip TCE of $2,686/day. The LR1’s have stood fast and TC5 55k Middle East Gulf / Japan is still WS125 a round-trip TCE of $7,970/day.
The MR’s have been tested down a little and 35k Middle East Gulf / East Africa (TC17) is now WS185 (-WS5.42).
Mediterranean Handy market
The Mediterranean Handy market saw reduced enquiry in West Med at the beginning of the week forcing a downturn in freight levels TC6 30kt Skikda / Lavera is now at WS 166.63 (- WS 15.87). The LR2’s, TC15 80k Mediterranean / Japan held steady at around the $1.7m mark.
Baltic Handy market
The Baltic Handy market saw good activity throughout this week, the uptick in enquiry has driven freight upwards, TC9 30k Baltic / UK-Continent is now WS 151.43 (+ WS 26.07)
UK-Continent
On the UK-Continent MR’s have been active, and assisted by a busy Mediterranean, saw a midweek spike in freight to WS130 for TC2 37k UK-Continent / US Atlantic Coast then resettling at the end of the week at WS 119.72. TC19 37k Amsterdam to Lagos followed a similar pattern ending up at WS120.36.
On the LR1’s, TC16 60k Amsterdam / Offshore Lomé saw an optimistic boost to WS100 this week but looks to have plateaued there for the moment.
Americas
In the Americas moderate activity stemmed a similarly modest rise in freight levels. TC14 38k US Gulf / UK-Continent has come up to WS 73.21(+WS 3.57) and TC18 38k from US Gulf / Brazil rose WS 2.86 to WS111.07.
MR Atlantic basket
The MR Atlantic basket TCE rose from $1404/day to $2202/day.
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Source: Baltic Exchange
