The chartering market within the Atlantic remains a mixed bag of opportunities. Baltic-Black Sea range not overly amusing whilst USG-W.Africa and, obviously, the ECSA seem the better areas to be, though a softening trend seems slowly becoming more evident. Off the Continent, Supra chars were shrugging their shoulders when they were seeing tonnage at US$ 25,000 for a quick eight-day employment from GNS to the Netherlands, for which trade realistic owns were coming up with US$ 12,500 daily. Scrap charterers were discussing 58,000 dwt at US$ 10-11,000 daily for a trip from GNS to eastern Med. Steel charterers were rating 53,000 dwt tonnage at US$ 11,000 daily for a trip to USEC. Considering this, dropping a Supramax on subs at US$ 14,500 daily for similar is only logical. Trips with clinker from the West Mediterranean to West Africa are down to US$ 13,500 daily on Ultramax tonnage.
The owners of a 28,000 dwt, open spot eastern Med, were deeply concerned at the lack of cargoes proposed. TCE of grain cargoes from Black Sea to Tunisia would only amount to US$ 6,000, basis delivery Canakkale. Fertilizer charterers were trying to sound out the owners of a 63,000 dwt ship at US$ 19,000 daily for a trip from Gibraltar via Morocco to India. The US Gulf seems to be getting softer. The rate of US$ 12,750 daily on a 35,000 dwt for the usual quick grain trips from the US Gulf to EC Mexico is just an ordinary market rate. A rate of US$ 15,250 daily agreed on a 37,000 dwt for 4-6 months trading looks like a good decent number. Otherwise, Ultramax tonnage was bid US$ 19,000 daily from the US Gulf to the Continent-Med, whilst the shipowners would rather do US$ 18-19,000 daily for a trip to Brazil. Coal trips are being done on 38,000 dwt tonnage at US$ 15,000 daily from USEC to the Continent. The rate of US$ 18,500 daily for a trip to WCSA on 36,000 dwt is not overly exciting.
The ECSA is just okay, with rates rather more down than up. A 37,000 dwt in ballast from West Africa was booked for 4-6 months at US$ 12,500 plus a bonus of US$ 370,000 daily, a real good deal for the charterers. If the period were to be stretched to six months the daily average wouldn’t even reach the US$ 15,000 level. Trips to the UKC have been done at US$ 15,000 daily on tonnage of 35,000 dwt. The owners of a 38,000 dwt decided to ballast from WCSA to Recalada to fix a trip to Venezuela at US$ 18,000 daily. A very decent number of US$ 14,000 daily was also pulled through by the owners of a 28,000 dwt for a front haul trip with delivery also Recalada. From South Africa, Ultramax front haul was done at US$ 22,000 daily plus US$220,000 BB.
The East looks steady and firm with the owners of 32,000 dwt talking US$ 16,000 for a trip to WCSA. Back haul chars took a 36,000 dwt at US$ 15,000 for a trip from China to the Continent. A 37,000 dwt was taken from Singapore for 2LL at US$ 17,250 daily. From the PG, charterers keep rating Supramaxes at US$ 15,000 daily levels for a trip to WC India.
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