**The Pacific round – and the backhaul – proved to be the biggest drivers. Both lost approximately 25 per cent on the week, although all routes posted losses – including the crucial Brazil round and north Atlantic fronthaul, which dropped 19 per cent and 13 per cent respectively on the week.
**Several brokers indicated that the market had merely plateaued and was set for a renewed push next week, citing the iron ore forward curve as a pointer to China’s seemingly insatiable appetite for the material.
Bulk - Panamax
**The Atlantic, which was the largest mover, saw rates attaining close to $3,000 overall.
**In Asia, some genuine concerns now appear real, with new crew regulations enforced by the Australian Maritime Safety Authorities contributing to premium numbers paid to the few candidates able and confident enough to comply.
Bulk - Supramax/Ultramax
**From east coast south America, ultraxmax vessels gained a 63,000 with eta on the coast end July was fixed in the upper $14,000s plus upper $400,000s ballast bonus.
**The US Gulf also saw increases and a ultramax was fixed at $18,000 for a trans Atlantic run. A short week with the holiday in Singapore on Friday slowed trading down.
Bulk - Handysize
**Atlantic routes further improved throughout the week, but the Pacific remained slow. Brokers suggested a wider spread between owners and charterers particularly for Far East delivery vessels.
**For single trip out of the US Gulf area, large Handy vessels were fixed to Brazil with clean cargo between mid $6,000s to mid $7,000s. A transatlantic run paid $9,600 for moving petcoke on an eco and well-described vessel.
Tanker - VLCC
**Rates firmed this week across the board in this sector. In the Middle East Gulf, 280,000mt to USG via the Cape/Cape routing is assessed three points up at WS25, while rates for 270,000mt to China got the ‘Spinal Tap’ treatment and sit 11 points higher at WS46.5.
**A similar tale unfolded in the Atlantic region. Rates for 260,000mt West Africa to China also saw 11 points gained to WS47.5 and voyages of 270,000mt US Gulf to China increased $1.5m to sit at $6.8m now.
Tanker - Suezmax
**Rates for 135,000mt Black Sea/Med have gained 2.5 points to WS55 level, while the market for 130,000mt West Africa/UKCont has steadied at WS52.
**For the 140,000mt Middle East Gulf to Med trip, owners have managed to claw back last week’s lost couple of points and again sits at WS21.
Tanker - Aframax
**In the Mediterranean market, weak sentiment from owners prevails with the market improving a mere 2.5 points to WS60 level for 80,000mt Ceyhan/Med.
**In Northern Europe rates turned sideways with 80,000mt Hound Point/UKCont stuck at WS71-72 region, and for 100,000mt Baltic/UKCont at WS41-42 level.
Tanker - Clean
**In the Middle East Gulf, rates for 75,000mt to Japan have been under constant pressure with the market easing just over five points to WS65. It was a similar story in the 55,000mt trade with the market drifting down from WS70 at the start of the week to be assessed now at barely WS61.5.
**The 37,000mt UKC to USAC trade started the week at WS80. But relentless chipping away by charterers saw rates lose a further 10 points to WS 70. It was again in the backhaul business from the US Gulf where owners were able to consolidate their previously modest gains.
The full reports are available on Baltic Exchange’s website, under related category. Namely, the Baltic Exchange information is based on assessments made by a global panel of shipbrokers, covering voyage and timecharter rates for capesize, panamax, supramax and handysize bulk carriers; VLCC, aframax & MR tankers, LPG and LNG vessels as well as forward assessments, vessel values, market reports & fixtures and demolition values.