Bulk report – Week 24
A depressing end to the week for owners with rates dropping in every area of the market with few willing to suggest if a floor has been reached. In the Atlantic, trading in the north was piecemeal, culminating in Cargill fixing in EdF tonnage for a 2-11 July 150,000-tonnne cargo from Puerto Bolivar to Rotterdam at a weaker $6.20. Timecharter trading was minimal with rates barely holding over $8,000 daily for transatlantic rounds. Brazil cargoes were few and rates here dropped with a 20-25 June cargo covered at $12.90 from Tubarao to Qingdao and Anglo American fixing a 5-10 July SwissMarine vessel from Acu to Ijmuiden at $6.10.
In the east, the key West Australia/Qingdao rate slumped to $5.20 for very end June-early July cargoes with charterers attempting to push the level to $5.00. Cargo volumes were lower and charterers were able to have their pick of tonnage. Timecharter rates too were significantly easier with a 2010-176,000-tonner fixed from Jingtang for a trip via Abbot Point to Zhuihai at $8,000 daily. A 2004-built 173,800-tonner fixed and failed reportedly at $6,500 daily for Rizhao delivery for a trip via east coast Australia to India.
In contrast to capesize, a positive week for panamaxes and kamsarmaxes with rates firming in all areas particularly in the north Atlantic. The cargo volumes in the north Atlantic favoured owners prompting rises from the lows seen a month ago with round voyage rates nudging five figures. A 79,500-tonner 2010-built open on the Continent was rumoured fixing at $9,500 daily for a trip via the Baltic with Gibraltar-Skaw redelivery. A 16-year old 74,000-tonner reportedly fixed from the UK via the US Gulf to the east at somewhere near $13,000 daily. A more active east coast South America helped bolster rates with charterers there with seemingly one cargo and then fixing several. Much of the business was booked on an aps basis for the runs east hitting $9,750 daily and a $450,000 bonus for good ships. As the week closed out there was talk that a 2013-built Kamsarmax fixed from Singapore for an east coast South American round at a sharply higher $10,000 daily.
In the east, the pace slowed but rates overall improved although brokers said that spot levels have disappointingly not quite matched those bids seen for period tonnage. A 2012-built 82,000-tonner went in direct continuation from Kashima for a NoPac round at $8,500 daily while earlier a 75,000-tonner 2006-built fixed from Tangshan for a NoPac round at $6,600 daily. A 74,000-dwt 2004-built vessel open Shanghai reportedly went for a year at $7,900 daily.
Supramax
Most of the routes in both Atlantic and Pacific basin maintained a positive trend since the beginning of the week. However, the Mediterranean market slipped due to plentiful vessel supply in the area. More period activity was reported with firm rates especially for vessels delivery in the east. Two ultramax new buildings both delivery CJK were fixed for about four to six months at the low $9,000s and $9,250 daily respectively redelivery worldwide. A 58,000-dwt 2009-built delivery in the Far East was fixed for about three to five months at $8,250 daily.
A 53,000-dwt 2001-built was paid $11,000 daily delivery up river for moving iron ore to Rotterdam. A 63,000-dwt 2014-built was booked at $12,750 daily basis Santos for a trip to Singapore-Japan plus a ballast bonus of $275,000 at the end of the week. A pet coke trip from the US Gulf to India paid $18,500 daily on a 63,000-dwt.
A 56,000-dwt delivery Vietnam was fixed at $8,250 daily to China, and a similar-sized tonnage was paid in the high $8,000s taking the delivery in Singapore for the same run. Nickel ore trading was still active this week with a 50,000-dwt delivery in mid China fixing at $7,200 daily and a 61,000-dwt delivery south China fixing at $9,000 daily for loading in the Philippines to China.
Handysize
Despite significant numbers in Greece for the shipbrokers’ dinner there, Thursday saw a plus day for all six BHSI routes with 20 April this year the last time it occurred. Levels pushed ahead from east coast South America and the US Gulf during the week. Brokers were more optimistic within the Asian sector and enquiry and rates were on the increase.
The Panvision 2011 28,253-dwt which was open Cape Finisterre was suggested covered at $6,000 per day for a trip delivery passing Ushant via the UK to the US east coast with grains. A Hakodate 33 was linked to a requirement basis delivery aps Black Sea to US Gulf at $5,000 daily while it was also whispered a 28,000-dwt was on subjects at a tick under $5,000 for Canakkale to US Gulf.
Sources revealed a Brazil coastal trade paid $8,750 with a 30,000-dwt vessel. The Alinda 2012 34,035-dwt was covered with delivery aps South Brazil 20-26 June for a trip via east coast South America with redelivery Continent at $8,500 daily carrying grains. The Seas 11 2013 37,202-dwt was apparently fixed at $10,000 aps Brazil trip to the Baltic. The Northern Dancer 2010 34,570-dwt was linked to a timecharter trip with Pola basis delivery east coast South America for a trip to west coast South America at $14,000 daily with a grain cargo and the Western London 2015 39,260-dwt was finally fixed at $14,500 delivery aps Santos for trip to west coast South America to Conaval. These levels an increase from reports earlier in the week that this trade was paying $13,000.
A fixture leaked of the Dubai Castle II 2000 built 29,409-dwt delivery dop Kwangyang prompt for a trip redelivery Taiwan at $5,600 daily. The Asia Pearl VIII 2009 built 35,283-dwt which was open CJK fixed a trip to SE Asia at around $6,250 per day while a 27,000-dwt vessel was accepting delivery South Korea for a trip to Taiwan at $5,500 per day.
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