Fearnleys Weekly - Dry bulk

Chartering - Supramax

USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now around USD 20k daily, trips to Med and Cont were concluded around USD 17-18k daily. From SAM bigger Supras were employed around 14k daily+bb for fhaul. Usual scrap runs from Cont to Med were done around USD 12k daily. Fertz cargoes from Baltic to F.East around 19k daily. There were many spot vessels open around Cont, many heading to USG now. Grain stems from BSea trying to keep up with positive trend from last week. Market losing value also within Pacific due to decreasing volume of cargoes just before Chinese New year. Pacific round voyages were concluded around 8k and less.

Chartering - Panamax

A new week with a soft sentiment and decreasing rates in both hemisphere for the Panamaxes. With the Chinese New Year around the corner, combined with a growing tonnage list and both basins needing an injection of fresh enquiry, the expectations going forward still being soft. In the Atlantic region the TA market has dropped to mid 10k’s, while FH rates are around 17k’s. Activity in the Pacific was limited and the upcoming holidays lending little support to falling rates. Transpacific RV is now priced at low 9k’s and we expect the rates to decrease further in the coming days. FFA’s, March is trading at low 12k’s, while April is now priced at low 13k’s on the P4TC index.

Chartering - Capesize

Limited volumes, mixed sentiment and uncertain short-term direction for the big ships. Average daily earnings marginally down w-o-w to come in at a moderate USD 12,500. This is not dramatic on the sole consideration that we are in "low and slow" season, but the fact that a considerable number of ships are caught up in Chinese port delays may give reason for concern. Bumpy rides on the two main iron ore volume routes, where it is worthy of notion that whilst Brazil/China is up a nominal 10 pct, the Waust/China conference rate is inversely down 5 pct. Period interest and -activity essentially good, with last representative fixtures including 181,000 dwt, built 2012, reportedly done for 11-14 months at USD 19,750.

Activity level

Capesize Kamsarmax Ultramax
Mixed Slower Weak

Rates

CAPESIZE (usd/day, usd/tonne) This week Last week Low 2018 High 2018
TCT Cont/Far East (180' dwt) 23,000.00 24,000.00 23,000.00 37,000.00
Tubarao / R.dam (Iron ore) 7.00 7.00 7.00 10.00
Richards Bay/R.dam 7.00 7.00 7.00 10.00
PANAMAX (usd/day, usd/tonne)
Transatlantic RV 10,500.00 12,000.00 10,500.00 12,750.00
TCT Cont / F. East 17,000.00 18,000.00 17,000.00 19,000.00
TCT F. East / Cont 4,400.00 4,600.00 4,400.00 4,750.00
TCT F. East RV 9,000.00 10,000.00 9,000.00 10,750.00
Murmansk b.13-ARA 15/25,000 sc 7.75 8.15 7.75 8.30
SUPRAMAX (usd/day)
Atlantic RV 12,500.00 14,000.00 12,500.00 16,000.00
Pacific RV 8,500.00 9,500.00 8,000.00 9,750.00
TCT Cont / F. East 16,000.00 19,000.00 16,000.00 19,500.00
1 YEAR T/C (usd/day)
Capesize 180,000 dwt 19,000.00 18,700.00 17,000.00 19,000.00
Capesize 170,000 dwt 16,750.00 16,000.00 16,000.00 16,750.00
Panamax 75,000 dwt 12,000.00 12,000.00 11,250.00 12,000.00
Supramax 58,000 dwt 11,000.00 11,500.00 10,000.00 11,500.00
Baltic Dry Index (BDI): 1097 previous week: 1152

Sales and purchases

Vessel Size Built Buyer Price Comm.
Mineral Nippon 203 275 2007 Winning Shipping 23,50 Old sale
Rubena N 203 233 2006 22,50 Old sale
Calimero 56 854 2011 Undisclosed 11,20
Daxia 56 811 2011 German 12,00
Long Hua 35 000 2009 Chinese 8,30
Orient Sunrise 28 514 2001 Chinese 5,70