Baltic Exchange Insights
Rates were unchanged at WS 55 for 270,000mt from the Middle East Gulf to both China and Singapore, whilst for the US Gulf, Equinor paid WS 20 Suez/Suez for 280,000mt from Basrah.
Charterers were in no rush to fix this week and with healthy availability of tonnage, rates eased three points to WS 53 for 270,000mt to China, with Korea fixed at WS 50.
Chinese charterers dominated in the Middle East Gulf, with rates easing slightly to WS 56/57 and South Korea discharge at WS 55 all basis 270,000mt cargo.
Weather delays in the East and increased cargo avails pushed up rates six points to peak at WS 58.5 to China, and WS 55.5 was agreed for South Korea, all basis 270,000mt. There is now a softer...
Very little change as rates remained around WS 51/52 level.
Basis 270,000mt AG/China rates slipped to WS 52, with talk of 2004-built tonnage agreeing WS 49.5. Total fixed to Japan at WS 50, while Korea also went at WS 50.
Marginal gains in the ME Gulf market, with rates for 270,000mt to China paying around WS 54. For USG discharge, ENI paid WS 26.5 Cape/Cape for 280,000mt up over six points and there is now talk of...
After the BCI timecharter average went over $26,000 mid-week, the highest level this year, the market then went into a correction.
Rates from ME Gulf eased down a point to WS 45.5/46 basis 270,000mt to China, although there is now a report of Shell paying WS 48 to Rizhao.
Charterers have not been under pressure in the ME Gulf as they have been drip-feeding enquiry into the market and this has led to rates easing, with CNOOC able to fix 270,000mt to China at WS 47 in...