Telling the story behind the fixture
Our team of market reporters produces a daily news round up of the dry bulk market for members and subscribers. A weekly market report is freely available.
It was a harder market to read today as fixtures were kept under wraps until later in the day. A lifting sentiment was felt buoyed in part by fuel price increases. The longest Capesize route, Eastern Canada to China, has shown itself to be increasingly busy with Charterers being heard to have booked a multitude of vessels. The long ton-mile route is a welcome sight in the current market as Brazilian spot cargoes to the far east are still proving sporadic.
Rio Tinto was rumoured to have fixed $4.40-$4.50 for one of their 170,000mt 10% iron ore cargoes from Dampier to Qingdao on 15-17 June dates. Owner Maran had two of their vessels linked against BHP for two cargoes on C5 at the $4.50 levels but full details were not received. Oak vessel Chin Shan (175,569 2004) with delivery Pohang on 4 June is rumoured to have fixed on timecharter at approximately $7000 for an Australian round trip, charterer unknown.
Cargill has been heard to have fixed a TBN Cape vessel for 170,000mt 10% iron ore from Seven Islands to Qingdao 18-24 June at $13.50 basis no address commission. The vessels earning calculates to high teens level. A Swissmarine TBN also fixed on a similar route from Port Cartier to Qingdao for 160,000mt 10% iron ore at $14.85 on 12-21 June dates to Arcelormittal......................................................