SMALL HANDY:
In the Southeast Asia (SEA) range, an increase in open tonnage coupled with a shortage of new enquiries has intensified pressure on Shipowners. Reports suggest that 6,000 to 8,000 DWT vessels were rated at $3,500 to $4,000 for a trip within SEA range, while larger vessels in the 10,000 to 15,000 DWT range commanded higher rates at $4,600. The China/Far East range experienced a stable week, with more new enquiries prompting Owners to quickly fix at favorable hire levels. Notably, a good 12,000 DWT twin-decker was fixed at $5,600 for a trip from North China to Japan, and others were rated at $5,200 for a Korea to China trip. The Indian market witnessed a decline in the volume of cargo flow, with 10,000 DWT vessels reported to be rated at around $4,200 for a coastal trip on a daily basis.
HANDYSIZE:
In the handy segment, limited tonnage availability remained an ongoing issue across the Atlantic, with rumors of improving levels of cargo enquiry. The MV Kayta Atk (28,467, 2009) opening spot in Puerto Cabello was fixed for a trip to the Eastern Mediterranean in the low $20,000s, while the MV Commander K (37,207, 2012) opening in Tuxpan on 10-12 December was fixed, basis delivery SW Pass, for a trip to the Eastern Mediterranean with an intended cargo of agricultural products at around $24,000, though further details had yet to emerge. In Asia, positive sentiment remained at the beginning of the week, with improving levels of cargo enquiry, but decreased rapidly as the weekend approached. A 28,000 DWT vessel open in South Korea was rated at $8,500 for a trip to the East Coast India with intended steel cargo. Another 28,000 DWT vessel open in East Coast India was rated at $6,000 DOP for 2/3 laden legs, but owners expected $6,500 daily.
SUPRAMAX:
The end of the week saw limited fresh information for the Supramax segment, resulting in a relatively muted scenario. In the Atlantic, little fresh enquiry from South America led to negative sentiment and rates being under downward pressure. The Continent-Mediterranean regions were finely balanced, but some reported limited enquiry from the East Mediterranean. Recent period activity surfaced, with the Chang Hang Han Hai (58,023, 2012) linked to Falcon for a period from minimum 1 April to maximum 15 May 2024, covering the first leg from the US Gulf to India with petcoke and redelivery in the Atlantic, although no further details emerged. In Asia, there was limited fresh enquiry from both the north and south, although activity remained in the Indian Ocean. The Eastern Gardenia (56,556, 2012) open in Kosi Chang on 10-15 December was linked to Norvic, covering a vessel for a trip with redelivery in Bangladesh carrying clinker at $17,500. A 55,000 DWT vessel was heard to be fixed at $15,000 DOP in Gresik for coal from Indonesia to China.
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by ASCENT BULK
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