Bourse des Vagues (Wave Exchange): Last week, trading activity in the Pacific plate increased and tanker rental prices soared significantly.

On March 4th, the Baltic Exchange released the freight market report for last week (February 26th - March 3rd). The report indicated that at the beginning of last week, the Baltic Exchange Cape route (5TC) saw a slight increase, the Pacific Plate trading activity remained stable, and the Atlantic China Welding Consumables, Inc. plate was relatively calm. Over time, trading activity in the Pacific Plate increased, rental prices rose, especially in the midweek with a significant surge driven by strong demand for goods. It was reported that more than 10 ships were sailing from Western Australia to China, causing the rental price for the C5 route to increase by $1.075 to $12.160. In the Atlantic China Welding Consumables, Inc. plate, there was new cargo influx on both Atlanta China Welding Consumables, Inc. and return routes, which helped boost market sentiment as existing capacity was limited. Strong charter trading reports led to a significant increase in rental prices for the C9 route by $2,562 to $53,375, and the C8 route saw a jump of $5,496 to $32,173. There were noticeable differences in buying and selling prices from Brazil and West Africa to the Far East, which led to limited trading activity, but market sentiment remained relatively optimistic, as evidenced by the C3 route rental price rising by $1.205 to $27,465. As last week drew to a close, this positive trend continued, although at a slower pace. The rental price for the C5 route increased slightly by $0.875 to $13.645, while the C3 index rose by $0.872 to $28.767. Overall, the Baltic Cape route opened last week at $26,233 and closed at $32,985. Panamanian bulk carriers Last week was eventful, with market trends fluctuating. The opening trend was negative last week, with mid-week forward freight agreements (FFA) rising, but remaining steady over the weekend. In the Atlantic China Welding Consumables, Inc. plate, the situation in the North was unclear. There was very little trading activity across the Atlantic China Welding Consumables, Inc. region, and rental prices remained under pressure last week. On the contrary, there was strong demand for minerals and grains on the return routes, providing some support for rental prices in that region. On the South American east coast, there were more ships arriving at the beginning of April, with a 82,000 deadweight ton ship sailing from the South American east coast to India, with a handover in the Far East, achieving a deal price of $18,000 several times. The Asian region saw good cargo replenishment last week, driving rental prices up as capacity in both the north and south plates was cleared. The spot charter market also performed strongly last week, with multiple transactions concluded, and market optimism remaining high. Ultra-flexible bulk carriers/super-flexible bulk carriers The Asian market showed positive performance. A 64,000 deadweight ton ship sailed from Caofeidian through Indonesia to the east coast of India-Bangladesh, achieving a deal at a rental price of $15,000; a 62,000 deadweight ton ship sailed from the Philippines through Indonesia to Thailand, achieving a deal at a rental price of $20,000. The North Pacific Plate was also very active. A super-flexible bulk carrier sailed from South Korea through the North Pacific to Bangladesh, achieving a deal at a rental price of $14,650. In South Africa, a 66,000 deadweight ton ship sailed from Port Elizabeth to Singapore-Japan, with a rental of $28,000, plus a $280,000 ballast subsidy. Due to a lack of new inquiries, rental prices in the Atlantic China Welding Consumables, Inc. plate remained lower. A 63,000 deadweight ton ship sailed from a port southwest of the Mississippi River through the Cape of Good Hope to Japan, achieving a deal at a rental price of $28,000. A 64,000 deadweight ton ship sailed from Southampton to the eastern Mediterranean, achieving a deal at a rental price of $19,000. A 63,000 deadweight ton ship sailed from Melrose to Abidjan, carrying cement, achieving a deal at a rental price of $15,000. A 58,000 deadweight ton ship sailed from Kwangyang, with a charter period of 7 to 9 months, returning in the PG-Japan route, achieving a deal at a rental price of $15,400. A 63,000 deadweight ton ship sailed from Mondra, with a charter period of at least 5 months, extending to October 15th, achieving a deal at a rental price of $19,600. Handy bulk carriers With the rising water levels in the Prata River, there were positive signs in the South Atlantic China Welding Consumables, Inc. plate. A 38,000 deadweight ton ship was transferred in Recalada, sailing to Algeria in mid-March at a rental price of $17,000. A 37,000 deadweight ton ship sailed from Recalada to the west coast of South America, achieving a deal at a rental price of approximately $25,000. Rental prices in the European continent and the Mediterranean region remained stable. A 39,000 deadweight ton ship sailed from Burgas to Spain, achieving a deal at a rental price of $15,000. Due to a lack of inquiries, capacity in the Gulf region remained under pressure. A 36,000 deadweight ton ship sailed from Key West through the Gulf to Turkey, achieving a deal at a rental price of $9,250. In contrast, rental prices in the Asian market continued to steadily rise, mainly due to limited available capacity. A 42,000 deadweight ton ship sailed from Japan through the North Pacific back and forth to Japan, achieving a deal at a rental price of $13,000. A 37,000 deadweight ton ship sailed from Chiba, achieving a deal at a rental price of $12,750. A 32,000 deadweight ton ship sailed from Samalang through Australia to Taiwan, planning to transport salt, achieving a deal at a rental price of $15,000.Finished oil tanker LR2 oil tanker Last week, the freight rates for LR oil tankers in the Middle East Gulf continued to decline. The 75,000-ton oil tanker freight index on the Gulf of Japan TC1 route fell 20 points to WS144.72 points. The rent price for a 90,000-ton oil tanker on the Gulf of Japan to the UK-European continent TC20 route also fell by $556,250, closing at $4.47 million. LR1 oil tanker In the Middle East Gulf region, LR1 oil tanker freight continued to decline last week. The 55,000-ton oil tanker freight index on the Gulf of Japan TC5 route fell from WS34.37 to WS174.38. Last week, the rent price for a 65,000-ton oil tanker on the Gulf of Japan to the UK-European continent TC8 route fell by $399,000, closing at $3.92 million. In the UK-European continent region, the 60,000-ton oil tanker freight index on the ARA to West Africa TC16 route fell by 25.94 points, closing at WS187.81 points. MR oil tanker After a significant improvement in the Middle East Gulf MR oil tanker rent two weeks ago, it remained stable last week. The rent price for the TC17 route is currently stable at around WS320. In the UK-European continent, despite the stable level of MR oil tanker freight, many industry representatives have been attending the International Energy Week in London in the past few days. The rent price for a 37,000-ton oil tanker on the ARA to the East Coast of China Welding Consumables, Inc. TC2 route was hovering around WS240 to WS250. The rent price for a 37,000-ton oil tanker on the ARA to West Africa TC19 route was similar to the TC2 route, hovering around WS267.5 to 272.5 points. It was reported that demand for MR oil tankers was low last week. The freight index for a 38,000-ton oil tanker on the Gulf of Mexico to the UK-European continent TC14 route fell from WS172.5 to WS150.71. The freight index for a 38,000-ton oil tanker on the Gulf of Mexico to Brazil TC18 route also fell by 18.21 points to WS233.93. The rent price for a 38,000-ton oil tanker on the Gulf of Mexico to the Caribbean Sea TC21 route was reported at $705,714, down $140,000 from the previous period. Handysize oil tanker In the Mediterranean region, the handysize oil tanker freight index rebounded significantly, rising 28.61 points to WS321.67 on the TC6 route. In the Northwest Europe region, the rent price for a 30,000-ton oil tanker on the cross-UK-European continent TC23 route rose by 4.17 points to close at WS262.5 points. VLCC oil tanker The market softened further last week. On the route from the Middle East Gulf to China, the 270,000-ton oil tanker freight index fell by 6 points to WS59.95. The time charter equivalent rate based on a Baltic standard vessel for a round trip voyage was $36,270 per day. In the Atlantic China Welding Consumables, Inc. sector, the 260,000-ton oil tanker freight index on the route from West Africa to China fell by 5.5 points to WS63.25, with a time charter equivalent rate of $40,211 per day. The freight index for a 270,000-ton oil tanker on the route from the Gulf of Mexico to China dropped by $33,333 to $8.866667 million, with a time charter equivalent rate of $43,299 per day. Suezmax tanker The 130,000-ton Suezmax tanker freight index on the route from Nigeria to the UK-European continent remained stable at around WS104-105 points, with a time charter equivalent rate of $38,963 per day. In the Mediterranean and Black Sea regions, the 135,000-ton oil tanker freight index on the route from CPC to the Mediterranean fell by 1.5 points to WS109.70, with a time charter equivalent rate of $38,761 per day. In the Middle East region, the rent price for a 140,000-ton Aframax oil tanker on the route from the Middle East Gulf to the Mediterranean via the Suez Canal remained stable at around WS106-107 points. Aframax oil tanker In the North Sea region, the 80,000-ton oil tanker freight index on the cross-UK-European continent route fell by 28.5 points to WS130, with a time charter equivalent rate of $30,600 per day on the route from Hodeidah to Wilmington. In the Mediterranean market, the rent price for an 80,000-ton oil tanker on the Mediterranean route fell by 36 points to WS104.72, with a time charter equivalent rate of $15,417 per day on the route from Jeyhan to Laval. In contrast, the US market across the Atlantic China Welding Consumables, Inc. remained stable. The 70,000-ton oil tanker freight index on the route from the east coast of Mexico to the Gulf of Mexico on TD26 route fell by 3 points to WS185.31, with a time charter equivalent rate of $48,049 per day. The freight index for a 70,000-ton oil tanker on the route from Coatzacoalcos to the Gulf of Mexico on TD9 route fell by 6 points to WS178.44, with a time charter equivalent rate of $40,270 per day. LNG vessels As expected, with many industry professionals gathering at the International Energy Week in London, chartering activities in the surrounding areas have decreased. Rent prices remained stable, with slight softening on some routes, and trading was very quiet last week. The LNG1 route from Australia to Japan saw a 174,000 cubic meter modern two-stroke vessel drop by $2,230 to $53,983, while the 160,000 cubic meter TFDE vessel closed at $36,101.The drop was nearly $2,000. Atlantic China Welding Consumables, Inc. was almost the only trading activity zone last week. There are reports that a ship from the United States to Japan was sold for a rental price of about $55,000. The closing price for the US-Japan Baltic LNG3 route was $52,811, while the 160,000 cubic meter TFDE vessel closed at $40,964, up $1,674. The 174,000 cubic meter modern two-stroke vessel on the US to Europe mainland BLNG2 route closed at $50,622, up $1,948; the 160,000 cubic meter vessel closed at $37,886, up $1,476.The term market for liquefied natural gas (LNG) is very calm, with the 6-month term rental price remaining at $62,500, while the 1-year term rental price has increased by $1,000 to $78,300. The 3-year term rental price remains unchanged at $90,100. LNG vessels As the saying goes, what goes up must come down, the rental price on the Rastanura to Chiba BLPG1 route dropped by $23.429 last week, leading to a 28.82% decrease in value for this route. The final price was $57.857, equivalent to a daily term rental income of $36,089. The remaining few vessels have little hope of avoiding further declines, let alone triggering a new round of increases. On the other side of Atlantic China Welding Consumables, Inc., the rental price on the Houston to Far East BLPG2 route fell by $2.4 last week to $61.6, equivalent to a daily term rental income of $59,383. The rental price on the Houston to Chiba BLPG3 route saw a slightly larger decline, closing at $110.286, equivalent to a daily term rental income of $44,431. With the arrival of the International Energy Week, many market participants are enjoying their time outdoors, and the market is expected to remain relatively calm, with the freight rate index reacting accordingly.