SMALL HANDY – In the Pacific market, small tonnage experienced a subdued week with limited activities due to a shortage of orders and a lack of available vessels. The hire rates for small vessels ranging from 10,000 to 13,000 dwt mostly hovered around $3,000 to $4,000, depending on the direction and type of cargoes. Experienced brokers anticipate this trend to persist for another week or two. Notably, there has been an increase in rice orders across Asia, particularly from Thailand to Indonesia. Small tonnage owners have seized this opportunity, resulting in congestion at some Indonesian ports.
HANDYSIZE – For the handy segment, the Continent displayed signs of a balanced day following recent gains for owners. Cargo availability remained favorable, and the South Atlantic saw continued improvement in enquiry levels, leading to a reduction in open tonnage and improved bids from charterers. In contrast, the US Gulf witnessed softened levels, with high tonnage availability and limited enquiry for February. Reports indicated a 38,000 DWT vessel rumored to be fixed for a trip from SW Pass to EC Mexico at $14,000, while a 34,000 DWT vessel was rumored to have a similar voyage at $13,000, with further details pending.
In South East Asia, tonnage experienced a quiet yet stable week. Limited fresh enquiry levels may lead to a softening of numbers due to the upcoming holiday, as suggested by some sources. In North China-Japan, despite increased enquiry, levels remained stable due to the backlog of tonnage availability. Period interest included the Paiwan Wisdom (31,967 dwt) opening Singapore-Japan in early March, reportedly fixed for 5 to 7 months at $11,000, with further details pending. Vessels ranging from 28,000 dwt to 32,000 dwt were fixed at $5,000-$6,000 for a trip within the Pacific, although some owners aimed higher at $7,000-$9,000.
SUPRAMAX – In Atlantic areas, limited activities were reported with no new enquiries during the week. The Mediterranean and Continent witnessed rates around $15,850. A 58,000 DWT vessel open in West Africa was rated at $17,500 for a trip with iron ore to China. USG and ECSA reported a slight improvement in available cargo, with a 55,000 DWT vessel heard fixed at $25,000 for a trip from Venezuela to China with iron ore.
In the Asian market, a continuous decrease was observed with fewer open orders, leading to a drop in hire rates. Coal demand from Indonesia reduced, resulting in some charters fixing standard SMX at $8,000 for trips within SEA range and $10,000 for trips to China/Feast range. A 56,000 DWT vessel was rated at $7,500 for delivery in Vietnam for a trip from East Kalimantan to the Philippines. For the Australia round, fewer cargoes were open, and owners expected $10,000 for SMX delivery in North China for an Aussie trip redelivery in China range.
The China/Feast market saw some improvements in cargo availability, but hire rates remained at the lower end. Charterers rated a 57,000 DWT vessel at $6,500 for delivery in North China for a trip to WCI/PG range, while a 55,000 DWT vessel open in Tianjin was fixed at $6,000 for a trip from Korea to ECI. The India market reported fewer activities discussed in WCI and PG, with a 58,000 DWT vessel fixed at $15,500 for delivery from WCI to Vietnam. In the East Coast, a 56,000 DWT vessel was rated at $14,000 for a trip from ECI to China.
By ASCENT BULK
