SMALL HANDY
This week, the Pacific Market experienced a subdued atmosphere due to an extended holiday period. Bagged rice shipments from Thailand and Vietnam to Indonesia and the Philippines remained prevalent. Freight rates for vessels ranging between 5,000 and 10,000 DWT were observed around mid 30 pmt to 40 pmt. A 11,500 DWT vessel was offered at a rate of low $5,000 for one time charter, although owners sought a mid $6,000 rate. One vessel, open in the Philippines, declined a cargo trade to South Korea due to unsuitable discharge port conditions. Additionally, an 8,000 DWT vessel open in the Philippines preferred not to engage in trades far from Vietnam, as it needed to return there. Owners persisted in rejecting cargo trade with India due to vessel age concerns and uncertainty about suitable return cargoes.
HANDYSIZE
Activity in the handy segment remained subdued, with many returning slowly after widespread holidays. There was an increase in tonnage availability reported across the Continent and the Mediterranean, a trend expected to continue into the following week. The South Atlantic continued to experience a lack of inquiry, with limited opportunities projected for the first half of May. In the US Gulf, although more visible activity emerged recently, negative sentiment persisted as prompt tonnage competed for employment. Rumors circulated regarding the Gant Yria (37,983 DWT, 2016), allegedly fixed from Mobile to the UK-Continent with wood pellets cargo at $11,000, though further details awaited confirmation. In Asia, markets were slow to resume, yet sentiment remained positive. In Southeast Asia, while sources noted a sluggish day, increased inquiry was reported from Australia, although more activity would be necessary to sustain or improve current levels. A 28,000 DWT vessel was offered at mid $9,000 for one time charter from China, with owners seeking mid $11,000.
SUPRAMAX
The Supramax market remained subdued, with limited information available due to global midweek holidays and extended holidays in China. Brokers observed both owners and charterers in a wait-and-see mode, collecting information to gauge the market’s next direction. In the period market, the MV Core Imperial (63,343 DWT, 2019) was reportedly fixed for 3-5 months trading from Cai Lan to the Arabian Gulf-Japan route at $20,000 with scrubber benefits for charterers. In the spot market, the MV Aurora SB (56,119 DWT, 2009) open in Magdalla was reportedly fixed at $16,000 for a trip to the Far East via West Coast India, while another 53,000 DWT vessel was fixed at $17,500 for a trip via PG to Bangladesh. The MV Virgo Confidence (63,206 DWT, 2019) was reportedly fixed for delivery in Surabaya from 10th to 20th May via Indonesia to China at $26,500.
From Ascent Bulk.
