SMALL HANDY
The Pacific Market witnessed consistent growth in small tonnages this week. Rice exports from Thailand and Vietnam remained a prominent and competitive commodity in the Pacific region. Freight rates for bagged rice shipments from Thailand to Indonesia ranged between high 20 pmt and low 30 pmt. However, more attractive rates were proposed for backhaul rice. Conversely, there was a notable decrease in fertilizer prices, making it less favorable for owners. Despite diverse offers from Indonesia, freight levels remained relatively low. Owners continued to decline trade with India due to concerns about finding suitable return cargo.
HANDYSIZE
In the handy segment, a positive market sentiment was reported across the Continent and the Mediterranean, with rates fluctuating accordingly. In the South Atlantic, owners noted improvements as cargo availability remained abundant. Unconfirmed reports suggested significant improvements in the US Gulf, although details were scarce. Market reports indicated that the De Sheng Hai (38,821 DWT, 2017) was fixed at $11,000 for a trip from Nador to the US Gulf, while the Livadi (35,058 DWT, 2011) was chartered from Tolu in Colombia to the Caribbean at around $11,000. In Asia, the market ended the week slowly, with owners and charterers reassessing conditions. Nevertheless, optimism prevailed, with many anticipating further improvements. A 28,000 DWT vessel was fixed from Thailand to China at mid $8,000.
SUPRAMAX
The Atlantic regions remained stable throughout the week. Rates in the Mediterranean and Continent hovered around $23,250, with various directions discussed at favorable hire levels. A 57,000 DWT vessel open in the Marmara Sea was chartered at $25,000 for a trip carrying grain to India. Both the US Gulf and ECSA reported slight improvements in available cargo. A 56,000 DWT vessel was fixed at $27,000 for a trip from Brazil to Southeast Asia with sugar. In Asia, the market showed positive trends, with improved hire rates. A 58,000 DWT vessel open in Singapore was fixed for a trip to North China at $15,500, while a 56,000 DWT vessel in the Philippines was chartered at $16,000 for a trip to South China. The China/Feast market remained stable in both cargo availability and hire rates. A 57,000 DWT vessel was chartered at $11,500 for a trip from CJK to Southeast Asia. Meanwhile, a 60,000 DWT vessel in Bohai Bay was chartered at $14,500 for a trip to ECI. In the Nopac region, impressive rates were discussed. A 58,000 DWT vessel open in North China was fixed at $16,000 for a trip via Nopac to India or Southeast Asia, while a 56,000 DWT vessel was chartered at $12,000 for a trip via Aussie. Cargo to East India/Chittagong commanded impressive hire rates, with a 56,000 DWT vessel chartered at $18,000 for a trip to Chittagong and $16,000 for Vietnam-bound cargo. A 55,000 DWT vessel in South China was fixed at $13,000 for a trip from Indonesia to West India with coal. Backhaul cargoes were discussed at favorable hire rates, with a 56,000 DWT vessel fixed at $13,500 for a trip from Bahodopi to Egypt via Suez. The India market remained flat and stable on the West Coast and PG range, with a 57,000 DWT vessel chartered at $15,000 for a trip via PG to Bangladesh. On the East Coast, a 53,000 DWT vessel was fixed at $12,600 for a trip from East Coast India to China with iron ore.
By Ascent Bulk
