SMALL HANDY
Small tonnage in Pacific market has witnessed a noticeable delay this week with not many activities. One thing remains unchanged is the lack of suitable cargo for available tonnages. However, many operators started to look for period charter with 6 months to a year of duration to support home source of cargoes. As the result, there has been a slight increase in demand of vessels with worldwide trading range for long term period. A DWT 11,000 was discussed for a 6 months period at roughly USD 7,000 net hire daily with East Africa – Japan trading range. Rice and human consumption continue to be one of the most common commodities around Bangkok and Yangon. A dwt 5,000 was fixed for a bagged rice trip from Thailand to Indonesia at the rate that satisfies both parties.
HANDYSIZE
In the Handysize segment, brokers observed an enhancement in market sentiment and activity on the Continent, coupled with an influx of enquiries. Similarly, improvements were noted in the Mediterranean, attributed to a shortage of prompt tonnage, thereby bolstering positivity. Additionally, the scarcity of available tonnage in the South Atlantic contributed to improved levels, exemplified by the fixation of a 36,000 dwt vessel from WC South America for a trip to Morocco at $19,000. Brokers in the US Gulf reported incremental gains for owners amidst diminishing tonnage availability.
At the onset of the previous week, the Pacific markets continued to experience limited cargo availability, maintaining negative sentiment and expanding the list of available tonnage daily, thereby intensifying pressure on owners. However, by week’s end, sources indicated a relatively stable day with minimal activity, alongside slight improvements in cargo availability levels, instilling hope for future enhancements. Moreover, positivity returned for tonnage in North China-Japan, with a notable increase in enquiries in recent days. Notably, the Woohyun Sky (32,213 2010) was fixed for a period basis delivery Krishnapatnam, spanning 2/4 months, with redelivery in the Arabian Gulf-Japan range, at a rate close to $11,000 to Sea Schiffe.
SUPRAMAX
In the Atlantic regions, signs of improvement were evident, with the Mediterranean and Continent witnessing rates around $22,150, accompanied by discussions at favorable hire levels. Incremental enhancements in cargo availability were reported in the US Gulf and ECSA. Notably, a 56,000 DWT vessel was fixed at $16,000 + BB for a trip from Brazil to Southeast Asia with sugar cargo, while discussions for a 52,000 DWT open in Brazil were centered around $19,000 for a trip with grain to Turkey.
In Asia, the market witnessed a slight downturn characterized by reduced cargo orders and hire rates. Discussions involved a 53,000 DWT vessel open in Cidanwan for a trip from South Kalimantan to South China at $15,750, while another 56,000 DWT vessel open in Qinzhou was fixed at $13,000 for a trip from Indonesia to CJK. Noteworthy fixtures in the Aussie round included SMX delivery from North China for an Aussie trip at $11,500. Additionally, improvements in cargo availability and hire rates were noted in the China/Feast market, with charterers rating a 57,000 DWT vessel at $11,000 for a trip from North China to Indonesia, and a 55,000 DWT vessel open in CJK being fixed at $12,000 for a trip to ECI. The India market remained stable, with reports indicating a fixture of a 58,000 DWT vessel at $19,500 for a trip via PG delivery from WCI to WCI, while a 56,000 DWT vessel was fixed at $15,500 for a trip from East Coast India to China with iron ore cargo.
Best regards,
