Fearnleys Weekly - Dry bulk

Chartering - Supramax

USG rates improved both for backhaul and fronthaul, Ultras from USG to Japan receiving around usd 26k daily while supras 1-2k less for same. Continent seemed to keep similar levels as end of year, fhauls were fixed around 19k and levels to USG also seemed quiet firm, that is usd10-11 k daily levels for ultra and for vsls breaching INL. Supras from BSea to Fareast were employed around 17k. The Pacific started the week with bit of activity but rates remained relatively flat. N.China to Seasia levels around USD 7500, while Indo/China coal rounds fixing at around USD 10k. Nickle ore rounds via Pilippines back to China is paying Ultras low USD 9k and nopac rounds back to Seasia is around USD 9k bss delivery Japan/Korea.

Chartering - Panamax

Activity has increased gradually in both hemispheres this week. More cargoes in the Atlantic has changed the sentiment somewhat, with the mineral trades to be the mainstay of the Atlantic market. TA and FH rates are respectively at levels ard mid 11k’s and mid 18k’s. The sentiment in Asia has turned positive along with the Atl region, but the grain trades seemed to be lacking. A transpacific RV is now priced ard 10k’s. Generally, the short term outlook for the Pmax market appears to be positive, but the last couple of days there has been a more mixed feeling abt the direction with more open tonnage compared to fresh cargoes. FFA’s, Feb is priced at mid 10k’s, while Q1 is now priced at low 11k’s on the P4TC index.

Chartering - Capesize

Average daily earnings for the big ships up 20 pct to USD 20k. Despite this, spot in fact generally sliding - but with huge climatic differences depending on area. Atlantic going strong on robust mineral volumes and limited availability of early ships, resulting in transatlantic rounds valued at USD 29k for 180000-tonners - up about 40 pct w-o-w. Less joy in the more fundamental feast round trades, where earnings stuck at USD 12k/day, cargo flows not matching prompt tonnage supply and an increasing number of units ballast west betting on the Brazil/Feast route. Period activity substantial, particularly for index-linked deals but also notably 179000 dwt built 2016 done for about 12 months to majors at excess USD 20k

Activity level

Capesize Kamsarmax Ultramax
Mixed Mixed Moderate

Rates

CAPESIZE (usd/day, usd/tonne) This week Last week Low 2018 High 2018
TCT Cont/Far East (180' dwt) 37,000.00 28,082.00 28,082.00 37,000.00
Tubarao / R.dam (Iron ore) 10.00 9.90 9.90 10.00
Richards Bay/R.dam 10.00 9.80 9.80 10.00
PANAMAX (usd/day, usd/tonne)
Transatlantic RV 11,500.00 11,500.00 11,500.00 11,500.00
TCT Cont / F. East 18,500.00 17,250.00 17,250.00 18,500.00
TCT F. East / Cont 4,700.00 4,500.00 4,500.00 4,700.00
TCT F. East RV 10,000.00 9,350.00 9,350.00 10,000.00
Murmansk b.13-ARA 15/25,000 sc 8.00 7.95 7.95 8.00
SUPRAMAX (usd/day)
Atlantic RV 15,000.00 14,600.00 14,600.00 15,000.00
Pacific RV 9,000.00 8,000.00 8,000.00 9,000.00
TCT Cont / F. East 17,000.00 16,000.00 16,000.00 17,000.00
1 YEAR T/C (usd/day)
Capesize 180,000 dwt 19,000.00 17,000.00 17,000.00 19,000.00
Capesize 170,000 dwt 16,500.00 16,000.00 16,000.00 16,500.00
Panamax 75,000 dwt 11,250.00 11,250.00 11,250.00 11,250.00
Supramax 58,000 dwt 11,000.00 10,000.00 10,000.00 11,000.00
Baltic Dry Index (BDI): 1366 previous week: 1262

Sales and purchases

Vessel Size Built Buyer Price Comm.
Kerkis 177 489 2006 H-Line Shipping 22,50
Voge Enterprise 79 410 2011 US Based 15,00
Topeka 74 716 2000 Chinese 9,00
Alpha Harmony 74 492 2001 Chinese 9,60
Ecola 73 931 2001 Chinese 8,50
Rose Balsam 55 616 2011 Greek 16,30
Marine Stars 53 565 2006 Chinese 8,40
Blue Ocean 31 734 2005 Turkish 9,00
Hanseatic Trader 4 338 2001 Undisclosed 3,50
Wilson Holla 4 338 2002 Undisclosed 3,50
Ali S 3 911 1985 Undisclosed 0,86