SMALL HANDY
In the Pacific Market this week, small tonnages demonstrated improved performance compared to the previous week. There have been offers for cargo at elevated costs. For instance, the clinker shipment from Cam Pha to Kuching has seen an increase from low to mid teens freight rates last week. A bagged rice cargo from Thailand to Indonesia has seen a rise in freight rates to high $20s pmt to low $30s pmt; however, a suitable vessel has yet to be secured. Furthermore, there’s growing interest from owners in bagged rice cargoes from South Vietnam to the Philippines. Conversely, coal shipments continue to be offered at lower freight rates. Owners remain hesitant about trading with India due to concerns about securing suitable return cargoes.
HANDYSIZE
Following the extended holiday period, positive sentiment is emerging in the Continent and Mediterranean regions, with reports indicating an uptick in enquiry levels. In the South Atlantic, cargo availability remains constrained for prompt tonnage, though future prospects show signs of improvement, potentially benefiting owners. Activity in the US Gulf remains limited, with a need for increased cargo volumes to spur positive developments. Market reports suggest the Chrysanthe (32,527 2011) was reportedly fixed for a delivery trip from Recalada to Algeria at $16,500 to Oldendorff. Conversely, the Clipper Clyde (31,639 2012) was rumored to have failed on a subject basis for a delivery trip to the Continent at $15,500 from Recalada. Improved fresh enquiry levels have been observed in Australia and Indonesia, fostering positive sentiment and allowing owners to adjust their expectations. In North China-Japan, activity remains subdued, with ongoing limited fresh enquiries. A 28,000 dwt vessel open in South East Asia was chartered at $10,000 for an intra-regional trip and mid $8,000 for a journey to North China.
SUPRAMAX
In the Atlantic regions, there are signs of improvement. The Mediterranean and Continent have seen rates around $22,150 discussed at favorable hire levels. A 57,000 DWT vessel open in the Marmara Sea was chartered at $25,000 for a grain shipment to India. The US Gulf and ECSA have reported slight enhancements in available cargo. A 56,000 DWT vessel was reportedly fixed at $27,000 for a trip from Brazil to South East Asia with sugar cargo. In Asia, the market experienced a quieter week with fewer cargo discussions. A 58,000 DWT vessel open in Sing was fixed for a single trip from South Kalimantan to North China at $14,000. Another 56,000 DWT vessel open in Kaoshiung was rated at $9,500 for a trip from Indonesia to the South China Range. The China/Far East market reported stability in both cargo availability and hire rates, with a 57,000 DWT vessel rated at $11,500 delivery CJK for a trip to South East Asia. Meanwhile, a 60,000 DWT vessel open in Bohai Bay was chartered at $14,000 for a trip to ECI. For the Nopac round, some owners engaged in discussions throughout the week at impressive rates. An SMX delivery in Japan for a trip via Nopac was observed at $17,000, while charterers rated a 56,000 DWT vessel open in North China at $12,000 for a trip via Aussie. The India market witnessed a downturn on the West Coast and PG range, with a 57,000 DWT vessel rated at $15,000 for a trip via PG to Bangladesh. On the East Coast, a 56K DWT vessel was fixed at $12,000 for a trip from East Coast India to China with iron ore.
By Ascent Bulk.
