Sea News – Specialized Report – Maritime Transport Market Fluctuations in Bulk and Tanker Sectors Last week, the maritime transport market witnessed various fluctuations in both the Bulk and Tanker sectors. In the Bulk segment, different types of vessels, including Capesize, Panamax, Ultramax/Supramax, and Handysize, experienced significant changes in freight rates and loading activities. On the other hand, the Tanker sector was affected by supply and demand shifts on various routes. This report provides an in-depth analysis of the market conditions in these two crucial segments, examining key index movements and their impact on freight rates and chartering.

Bulk Report

Capesize

The Capesize market experienced a relative decline last week. The 5TC index initially dropped to $6,733 but rebounded to $6,964 by the end of the week. In the Pacific Ocean, loading activities improved, but this was not enough to significantly boost prices. In the Atlantic Ocean, an oversupply of vessels, particularly on transatlantic routes, led to a sharp drop in prices, with the C8 index declining to $4,257. However, fronthaul activities helped keep the C9 index stable at approximately $25,000.

Panamax

The Panamax market saw mixed signals but remained generally positive. Cargo volumes in the Atlantic Ocean were low, but fronthaul rates increased. South America played a key role in driving the market, with rates rising for vessels scheduled to arrive in March. In the Pacific, rates remained supported, and an 82,000-ton vessel was chartered for a NoPac round voyage at $10,500.

Ultramax/Supramax

Following the Chinese New Year holidays, activity in this sector picked up. Rates improved in the Atlantic, with a 63,000-ton vessel chartered for a fronthaul voyage at $11,000. In Asia, activity also increased, pushing rates higher. A 53,000-ton vessel was chartered for a voyage from North China to Bangladesh at $9,000.

Handysize

The Handysize market showed mixed performance. Rates in Europe and the Mediterranean slightly increased, with improved market support. In South America, new demand pushed rates higher. However, the U.S. Gulf market remained weak. In Asia, loading activities started strongly, and a 40,000-ton vessel was chartered for a voyage from Yosu to Mumbai at $7,750.

Tanker Report

VLCC

With Asian charterers returning to the market after the Chinese New Year holidays, the VLCC market came under pressure. Rates initially rose in the Middle East and the Atlantic but later declined. The TD3C index (Gulf to China) reached WS71 before falling to WS67.60.

Suezmax

The Suezmax market remained active in the West. The TD20 index (Nigeria to Europe) increased by 6.5 points, reaching WS94.17. The TD27 index (Guyana to Europe) also rose by 10 points to WS88.06.

Aframax

In the North Sea, the TD7 index (Cross-UK Continent) remained stable at WS107.5. In the Mediterranean, the TD19 index (Cross-Mediterranean) increased by 10 points to WS128.72. Rates in the Atlantic also slightly increased.

Clean Tanker

The LR2 market in the Middle East saw a decline. The TC1 index (Gulf to Japan) fell 22.5 points to WS102.22. The TC20 index (Gulf to Europe) dropped from $3.43 million to $3.25 million.
The LR1 market also declined, but less sharply than LR2. The TC5 index (Gulf to Japan) dropped 3.75 points to WS120.63.
The MR market in the Middle East showed slight improvement, with the TC17 index (Gulf to East Africa) rising to WS190.

Handymax

The Handymax market experienced significant improvement. In the Mediterranean, the TC6 index rose by 31.39 points to WS200.28. In the North Atlantic, the TC23 index (Cross-UK Continent route) increased from WS178.33 to WS205.

This report has been exclusively prepared for FONASBA member associations.

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