Fearnleys Weekly - Dry bulk

Chartering - Supramax

One more sluggish week within the Atlantic with no certain improvements seen. Fertilizers from Baltic to India were fixed around USD 19k/day. Ultras from USG to EMed were concluded at ca USD 19-20k/day, but also smaller Supras were employed around USD 16k/day for trip to WMed. Slight improvement for fhauls for USG which were done at low USD 20k/day. Another slow week in the Pacific with limited activity and rates going sideways to negative. Indo coal rounds with delivery S.China is paying Ultras around USD 9k, while Supras achieving around same levels for Nopac rounds. The short period market is paying around low USD 11k for Supras bss del Feast for 5/7 mos and low USD 12k bss delivery MEG.

Chartering - Panamax

With holidays and the Chinese New Year around the corner there is little evidence that the soft trend in the freight rates we have seen in the recent weeks will turn around in the next few days. Limited activity and lack of fresh cargoes in both hemispheres, combined with a growing tonnage list is putting pressure on the freight rates. In the Atlantic region, the TA market has dropped to ard mid 9k’s, while fronthauls are being fixed in the 16 to 17k’s depending on duration. A transpacific RV is now priced at 9k’s and we expect the activity to be very limited in the next few days with further decrease in the freight rates. FFA’s, March is trading at low 12k’s, while Apr is now priced at mid 13k’s on the P4TC index.

Chartering - Capesize

A week where everyone focusing on covering their requirements before the Chinese New Year holidays kick in. It has been good activity, but rates have slightly dropped on the shorter routes; West Australia to China route are presently at mid USD 6 pmt level. Brazil/China route have increased from high USD 15 pmt level to mid USD 16 pmt. The expectation is positive for the longer term, hence owners are willing to discount their rate for shorter duration business. There is strong interest in medium and long period tonnage, and the rates remain high. For the next week it is expected to be slower volumes, but most believe market will continue firm despite holidays.

Activity level

Capesize Kamsarmax Ultramax
Active Mixed Weak

Rates

CAPESIZE (usd/day, usd/tonne) This week Last week Low 2018 High 2018
TCT Cont/Far East (180' dwt) 24,000.00 23,000.00 23,000.00 37,000.00
Tubarao / R.dam (Iron ore) 8.00 7.00 7.00 10.00
Richards Bay/R.dam 7.80 7.00 7.00 10.00
PANAMAX (usd/day, usd/tonne)
Transatlantic RV 9,500.00 10,500.00 9,500.00 12,750.00
TCT Cont / F. East 16,500.00 17,000.00 16,500.00 19,000.00
TCT F. East / Cont 4,300.00 4,400.00 4,300.00 4,750.00
TCT F. East RV 9,000.00 9,000.00 9,000.00 10,750.00
Murmansk b.13-ARA 15/25,000 sc 7.35 7.75 7.35 8.30
SUPRAMAX (usd/day)
Atlantic RV 12,000.00 12,500.00 12,000.00 16,000.00
Pacific RV 8,500.00 8,500.00 8,000.00 9,750.00
TCT Cont / F. East 16,000.00 16,000.00 16,000.00 19,500.00
1 YEAR T/C (usd/day)
Capesize 180,000 dwt 19,000.00 19,000.00 17,000.00 19,000.00
Capesize 170,000 dwt 16,750.00 16,750.00 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 11,250.00 11,000.00 10,000.00 11,500.00
Baltic Dry Index (BDI): 1095 previous week: 1097

Sales and purchases

Vessel Size Built Buyer Price Comm.
Tansanit 92 500 2011 Interocean 17,20
Vika 74 461 1999 Middle Eastern 8,00
Angel B 58 679 2008 New horizon 14,15
Aquamarin 57 000 2012 Chinese 12,10
F. F Wish 45 719 1997 Undisclosed 5,00
Tabernacle Star II 23 716 1995 Far Eastern 3,20