SMALL HANDY
Small tonnage in the Pacific market remained active this week, consistent with last week’s performance. In addition to bagged rice cargo, fertilizers and other cargoes saw increased trading activity. Vessels ranging from 7,000 DWT to 13,000 DWT secured around USD 5,000 for TCT or USD 30 PMT – USD 35 PMT for voyages. A vessel of 13,000 DWT was rated at low USD 5,000 for 2/3 legs. A vessel of 5,000 DWT was fixed with urea in bulk from Bontang to Vietnam at USD 25 PMT. However, PKE from Dumai to South Korea, with a low rate idea, has yet to find a suitable vessel. Additionally, most owners prefer northbound routes, as this area likely offers more opportunities for favorable trading in their subsequent plans.
HANDYMAX
In the handy segment, the Mediterranean, in particular, was described as lacking activity, with a continued absence of fresh inquiries, leading to no expected changes in fortunes for owners. In the South Atlantic, after a period of positivity, a ceiling appears to have been reached as brokers noted a slowdown in fresh inquiries and a shift in charterers’ mentality, leading them to hold off on fixing, which may result in some market corrections in the near future. Pressure on owners across the US Gulf and US East Coast persisted due to minimal cargo availability, with further reductions expected.
Meanwhile, positivity remained for tonnage in Southeast Asia, with buoyant cargo availability. Improving cargo availability levels were also reported in North China-Japan and the Pacific Northwest. The Sea Hawk (37,163 DWT, 2017) open in Manzanillo was rumored to have been fixed for a trip with redelivery in Singapore-Japan in the mid-teens to Trafigura, while the Stellar Rioni (38,230 DWT, 2017) open in Chile was rumored to have been fixed for a similar trip to Singapore-Japan at around $17,000 to Norvic, though further details were pending.
SUPRAMAX
The Atlantic areas remained stable throughout the week. The Mediterranean and Continent witnessed rates around $23,250 with various directions discussed at favorable hire levels. A 58,000 DWT vessel open in the Marmara Sea was rated at $26,800 for a trip with grain to India. The US Gulf and ECSA reported slight improvements in cargo availability. A 56,000 DWT vessel was fixed at $27,000 for a trip from Brazil to Southeast Asia with sugar.
In Asia, the market witnessed a positive trend with noticeable hire rates. A 57,000 DWT vessel open in Weda was fixed for a trip from East Kalimantan to China at $19,500. Another 55,000 DWT vessel open in Singapore was rated at $18,000 for a trip from Taboneo to the South China Range. The China/Feast market reported stability in both cargo availability and hire rates, with charterers rating a 57,000 DWT vessel at $13,500 for delivery CJK for a trip to Southeast Asia. A 60,000 DWT vessel open in Bohai Bay was rated at $16,500 for a trip to ECI. Impressive hire rates were reported for cargoes to East India/Chittagong, with a 58,000 DWT vessel rated at $25,000 for a trip from Thailand to Chittagong with clinker. Another 56,000 DWT vessel open in Campha was fixed at $16,000 for clinker to Bangladesh.
The India market was reported as flat and stable in the West Coast and PG range, with a 57,000 DWT vessel rated at $18,500 for a trip via PG to Bangladesh. On the East Coast, a 57,000 DWT vessel was rated at $17,500 for a trip from East Coast India to China with iron ore.
By Ascent Bulk.
