SMALL HANDY
The small tonnage in the Pacific market continues to perform well for Owners this week. There is a growing demand from operators seeking vessels for long-term charters. Additionally, there is a shipment of 3,000 tons of ammonium nitrate from QingDao to Jakarta, for which a trader has offered an attractive rate if suitable vessels can be secured. One Owner specializing in handling this hazardous cargo has proposed a freight rate of 77 USD per metric ton. There are also some short shipments, such as cargo from Zhenjiang to Kwangjang for a Korean company or from Qinzhou to Cam Pha for a Chinese company. However, most Owners are showing reluctance towards these opportunities. Furthermore, vessels with a deadweight tonnage ranging from 6,000 to 10,000 are being offered freight rates averaging around low USD 30 per metric ton by Owners.
HANDYSIZE
As the widespread Easter holiday weekend approached, the Handy segment experienced limited fresh activity, with many participants already away from their desks. The South Atlantic maintained its trend of limited fresh enquiry, while the Continent-Mediterranean region remained finely balanced. Similar conditions were observed in the US Gulf and US East Coast, where most activity concluded early, although some softening was anticipated for the following week. The Dema (dwt 34,059) was reportedly fixed basis delivery Recalada for a trip to Morocco at $19,750. Additionally, further reductions were noted for tonnage opening in Southeast Asia, attributed to subdued cargo availability from Australia and Indonesia. Negative sentiment persisted due to a lack of enquiry from NoPac and North China-Japan. Market reports indicated that the Lignum Web (dwt 42,541) open Lanshan was placed on subjects for a trip via South Korea, with redelivery to the Continent with steels at $14,500 for the first 65 days and $16,500 thereafter, although further details were awaited.
SUPRAMAX
In the Atlantic areas, signs of improvement were observed, with the Mediterranean and Continent witnessing rates around $22,150, and discussions at favorable hire levels. Notably, a 57,000 DWT vessel open in the Marmara Sea was rated at $25,000 for a trip with grain to India. Slight improvements in cargo availability were reported in the US Gulf and ECSA. A 56,000 DWT vessel was reportedly fixed at $27,000 for a trip from Brazil to Southeast Asia with sugar cargo. However, in Asia, the market witnessed a downtrend, characterized by reduced cargo orders and hire rates. Notable fixtures included a 58,000 DWT vessel open in Hochiminh fixed for one trip from South Kalimantan to North China at $15,000, and another 56,000 DWT vessel open in Kaoshiung fixed at $13,250 for a trip from Indonesia to the South China Range. In the Aussie round, discussions during the week indicated impressive rates, with SMX delivery from North China for an Aussie trip seen at $11,000. The China/Feast market reported some improvements in both cargo availability and hire rates, with charterers rating a 57,000 DWT vessel at $12,500 for delivery at CJK for a trip to Southeast Asia. Meanwhile, a 58,000 DWT vessel open in Bohai Bay was rated at $12,000 for a trip to ECI. The India market remained stable, particularly in the West Coast and PG range, with reports indicating a fixture of a 57,000 DWT vessel at $19,000 for a trip via PG to Bangladesh. Additionally, a 56,000 DWT vessel was fixed at $13,000 for a trip from East Coast India to China with iron ore cargo.
From Ascent Bulk.
