Fearnleys Weekly - Dry bulk

Chartering - Supramax

The market is still going strong in the Pacific, with Ultra fixing high USD 13k+375k bb for S.Afr to ECI while nickel ore runs via Philippines to China are paying Supras around mid USD 11k. Aussie rounds are paying in the USD 13k’s, while Spore trip to WCI/Pakistan range has been fixed around USD 13k. Similarly to Far East market, the Atl performed well nearly all areas. More fhaul enquires from Bl.Sea, same were done around USD 20k daily. Inter-Med business were concluded around USD 12k levels. USG petcoke trips to Far East still paying around 23-24k daily. Cont stayed more stable, where backhaul to Brazil were fixed around 7k. Both basins seeing continuous period interest for both short and longer period.

Chartering - Panamax

A mixed week with a lot of volatility and different activity level from day to day, but in general there has been a positive sentiment, especially during the last couple of days with increasing freight rates in both hemispheres. Period interest remained robust with strong numbers being reported. A 75k was reported fixed for 9 to 12 months at a strong 14,500$ daily. On the spot biz in the Atl, TA and FH rates are respectively at levels ard mid 13k’s and 19k’s, while Baltic rounds continue to pay a high premium due to the ice conditions and last done is 22k for a Baltic RV on an ice classed LME. The sentiment in Asia is strong and a transpacific RV is now priced at mid 12k’s with steady enquiry from all areas.

Chartering - Capesize

Disappointing week so far with dropping rates in all basins. Both the north and south Atlantic market have been struggled with very limited activity. Quite a bit of owners taken their vessel towards Brazil expecting a stronger market for end of March and beginning of April, but the rates have dropped and the number of cargoes are scarce. South Africa market have basically been non-existing, which also put press on owners who decided to ballast. Freight rates on Brazil/China now down to mid USD 15 pmt level. Pacific is still active, but enough tonnage around, and with an Atlantic market which is not attractive, the owners willing to discount for short west Aussie RV, which now down close to USD 6 pmt mark.

Activity level

Capesize Kamsarmax Ultramax
Slower Active Firm


CAPESIZE (usd/day, usd/tonne) This week Last week Low 2018 High 2018
TCT Cont/Far East (180' dwt) 23,000.00 23,300.00 23,000.00 37,000.00
Tubarao / R.dam (Iron ore) 6.80 7.00 6.80 10.00
Richards Bay/R.dam 6.70 7.00 6.70 10.00
PANAMAX (usd/day, usd/tonne)
Transatlantic RV 13,250.00 13,250.00 9,500.00 13,250.00
TCT Cont / F. East 19,000.00 19,000.00 16,500.00 19,000.00
TCT F. East / Cont 5,000.00 4,900.00 4,300.00 5,000.00
TCT F. East RV 12,750.00 11,500.00 9,000.00 12,750.00
Murmansk b.13-ARA 15/25,000 sc 8.55 8.45 7.35 8.55
SUPRAMAX (usd/day)
Atlantic RV 14,000.00 13,500.00 12,000.00 16,000.00
Pacific RV 11,000.00 9,900.00 8,000.00 11,000.00
TCT Cont / F. East 19,500.00 19,500.00 16,000.00 19,500.00
1 YEAR T/C (usd/day)
Capesize 180,000 dwt 19,500.00 19,500.00 17,000.00 19,500.00
Capesize 170,000 dwt 17,000.00 17,100.00 16,000.00 17,100.00
Panamax 75,000 dwt 14,000.00 12,750.00 11,250.00 14,000.00
Supramax 58,000 dwt 12,500.00 12,250.00 10,000.00 12,500.00
Baltic Dry Index (BDI): 1191 previous week: 1192

Sales and purchases

Vessel Size Built Buyer Price Comm.
Agenor 82 000 2016 New Yangtze Navigation 13,70 Auction sale of unfinished hull
Archon 82 000 2018 Zhejiang Hongxin Shipping 13,10 Auction sale of unfinished hull
Sea Ace 81 755 2012 Greek 18,40
Eleftheria 76 099 2001 Chinese 9,40
Jiangsu Hongqiang HQ109 64 000 2018 Eddie Steamship 23,30
BW Durum 61 491 2016 Navigare Capital Partners 25,00 Incl 1yr TC back at USD 12000