Fearnleys Weekly - Dry bulk

Chartering - Supramax

Week has brought Supras firm rates and numerous orders.Scrap orders from Cont to Med still pay USD 11k. Fertz from Baltic to Brazil went ard 7k. Ultras from USG on fhaul got almost 24k for trip to India, ard 20k with redel Singapore-Japan. Supras fixing from ECSA for a fhaul ard 14k daily + bb. The Pacific market is still firm with activity still on nickle ore, coal and period business being concluded. Ultras open S.China are able to obtain around USD 14k and Supras del CJK around USD 12k for n.ore rv via Philippines. The coal trade is also firm with supras fixing around low usd 13k with delivery Thailand. The period market has been active with Supras fixed USD 10500 for 1 year and Ultras USD 11500 for s.period.

Chartering - Panamax

Another active week with increasing rates in both hemispheres. The Atlantic market keeps its momentum as the driving force of the market with the north Atlantic being especially firm. We see a steady pace of cargoes out of US Gulf and South America pushing TA rates at ard 12k’s. Fronthauls are being fixed in the 20 to 22k’s depending on duration. A Pmax was reported fixed for 1tct from Gdynia via Baltic redel India for a healthy USD 25.000 daily. The sentiment in Asia remain very positive with transpacific RVs at mid 12k’s and the expectations going forward still being positive. The short term outlook for the Panamax market remain positive all in all, however the ease off in the Cape sector may be a warning sign.

Chartering - Capesize

A bit of a slow week so far, especially the volumes from Brazil and South Africa have been very limited. The main activity have been on the west Australia market, where the rates have kept steady this week at just below the USD 8 pmt mark. Several typhoons are hitting China and the vessels are getting delayed in their discharge port, which again putting pressure on early tonnage. The rates for timecharter in the pacific is trading around the USD 20,000 daily mark. And the expectations are that the market will continue upwards for the next months to come. The underlying fundamentals looks good with further increase in the commodity prices and with a very low fleet growth in the Capesize market.

Activity level

Capesize Panamax Supramax
Stable Strong Firm

Rates

CAPESIZE (usd/day, usd/tonne) This week Last week Low 2017 High 2017
TCT Cont/Far East (180' dwt) 30,000.00 31,000.00 12,000.00 35,000.00
Tubarao / R.dam (Iron ore) 8.30 7.00 4.00 8.30
Richards Bay/R.dam 7.80 7.00 4.00 7.80
PANAMAX (usd/day, usd/tonne)
Transatlantic RV 11,500.00 10,000.00 5,600.00 14,800.00
TCT Cont / F. East 19,500.00 18,000.00 11,600.00 21,000.00
TCT F. East / Cont 4,500.00 3,800.00 2,500.00 8,600.00
TCT F. East RV 12,500.00 10,500.00 2,500.00 12,500.00
Murmansk b.13-ARA 15/25,000 sc 7.15 7.10 5.00 7.45
SUPRAMAX (usd/day)
Atlantic RV 10,000.00 9,600.00 8,250.00 12,000.00
Pacific RV 10,500.00 9,900.00 3,900.00 10,500.00
TCT Cont / F. East 19,000.00 17,000.00 12,000.00 19,000.00
1 YEAR T/C (usd/day)
Capesize 180,000 dwt 15,500.00 15,500.00 10,250.00 16,500.00
Capesize 170,000 dwt 14,000.00 14,000.00 8,650.00 14,500.00
Panamax 75,000 dwt 11,750.00 11,500.00 7,250.00 12,400.00
Supramax 53,000 dwt 10,250.00 9,600.00 6,600.00 10,250.00
Baltic Dry Index (BDI): 1337 previous week: 1250

Sales and purchases

Vessel Size Built Buyer Price Comm.
Cartigny 182 651 2016 JP Morgan 44,80 incl. 3-tr T/C back
Chevrier 182 625 2016 JP Morgan 44,80 incl. 3-tr T/C back
NPS Century 172 036 2000 Undisclosed 12,00
Navios Altair 83 001 2006 Greek 14,50
Ocean Sakura 76 596 2007 Greek 13,70
Nord Glory 55 657 2010 Unisea Shipping 14,40
Desert Serenity 53 820 2008 Far Eastern 9,20
Worldera-2 48 907 2001 Chinese 7,70
Dokos 45 600 1997 Undisclosed 4,10
Avic Weihai 396 37 877 2017 German 16,90
Sea Melody 34 468 2010 Undisclosed 10,80