So far 38 fixtures reported from AG for July. With lack of enquries for 2nd half of July, it appears that the market maintain at current level with little potential to develop further. More activity in the West but rates stay steady.
More inquiry was expected before the long US Holiday, but that wasn't the case. With mininal activity and a 4 day weekend ahead, expect rates to remain soft as the tonnage list builds.
1,2 NSEA-UKC - It has been a slow week with just enough cargoes to allow Charterers to drop rates on each fixture
3. Baltic - UKC - Same as NSEA - UKC
4 Cross Med - Plenty of mid-month avails have created a dramatic fall in rates with charterer having 5-7 offers to look at.
5 Far East - Under the pressure of a voluminous amount of fixing, the rates are finally showing signs of increasing from the static levels. Current assessment of the market is ws67.5
1. CARIBS - With minimal activity this week and no pre-holiday surge as expected, charterers were able to drive down the market 12.5pts on only 2 fixtures. With the long upcoming weekend expect the tonnage list to thicken and rates soften.
2. FAR EAST- There has been an increase of enquiries lately but with the bunker still remain high and plenty of Aframaxes around to compete, it is pretty tough for owners to up the rate. Current rate level is hovering between ws70-ws75 level.
1. Rotterdam - New York - Activity slowed down past week and we saw ws105 was done a couple of times but lack of cargoes made market touch softer and week ended at ws100.
2. Caribs - despite a somewhat quiet week it looks like the position list may be starting to thin out again.
3. Houston - Amsterdam - (only the back haul leg) An increase in inquiries should lead to a bump in rates going into next week.