SMALL HANDY
Owners of small tonnages experienced a relatively subdued week compared to the previously rising market trends in the Pacific Market. There’s a growing interest among operators in long-term time charter vessel deals. Moreover, a noticeable increase in long-distance shipments from China to India/Europe has been observed. Despite an order for steel coils from China to India priced at 50 USD per metric ton (pmt), many owners are hesitant due to significant disparities in pricing ideas. Additionally, there have been several short-term shipments, predominantly involving rice as a commodity exported from Vietnam/Thailand to various destinations. Anticipations are high for more cargo orders to emerge next week in the market, although owners are exercising patience as they await market signals to guide their future intentions.
HANDYSIZE
In the handy segment, brokers have reported limited fresh enquiry and activity across the Continent and the Mediterranean. Some attribute this to charterers covering early before last weekend’s Easter celebrations. Similarly, the South Atlantic has seen subdued activity, although signs of potential improvement are emerging as cargo for the second half of April is expected to surface. Pressure persists on prompt tonnage within the US Gulf and US East Coast due to a lack of demand from charterers. Notably, the Minanur Cebi 1 with a deadweight tonnage (dwt) of 33,811, opening in Altamira with prompt dates, was rumored to have failed on subjects basis delivery Rocky Point for a trip to Antwerp-Rotterdam-Amsterdam at $8,000 last week. Further softening is noted for tonnage opening in South East Asia and Australia, with limited fresh enquiry from Australia and Indonesia. Market activity remained muted due to holidays in China, and a further softening of levels is anticipated into next week. A dwt 28,000 vessel was chartered at $8,500 – $9,000 for a trip from northbound to South East Asia or from Vietnam to Korea.
SUPRAMAX Ahead of the upcoming Asian holidays, brokers have noted a shift towards a negative trend in the market. The MV Eastern Venture (64,696 dwt 2023), open in Sasebo, was reportedly fixed for a trip to the US Gulf at $12,000 with scrubber benefits to owners. The MV Jin Yuan (55,496 dwt 2007) in Sihanoukville was fixed at $15,000 for a voyage with nickel ore via the Philippines to China. Furthermore, the MV Star Monica (60,935 dwt 2015), open in Lanshan, was reportedly fixed for a trip via Indonesia with redelivery to India-Bangladesh at $14,250. In the Atlantic, the MV E.R. Bristol (55,659 dwt 2011), open in Aughinish, was fixed at $21,000 for a fronthaul trip with a minimum duration of 65 days, although further details remain undisclosed. Similarly, the MV Safi Alfa (52,514 dwt 2005), open in Veracruz, was chartered for a trip basis delivery Port Arthur to WC India with petcoke in the low $20,000s.
By Ascent Bulk.
