1. Small Handy
The small handy market in the Pacific remained robust this past week. Vessels ranging from 7,000 dwt to 10,000 dwt were rated between $20 pmt and $30 pmt. A 12,000 dwt vessel was quoted at $6,000 for 2/3 legs, although owners sought $7,000. Additionally, an 8,000 mt corn shipment from Makassar/Anggrek to Bataan was fixed at $32 pmt. Furthermore, bagged rice cargo continued to be in demand. A small quantity of bagged rice was fixed as TCT with a hire rate of $3,350 per day. A 12,000 mt bagged rice shipment from Thailand to Jakarta was fixed at $27 pmt.
2. Handysize
In the handysize segment, the US Gulf remained the most prominent area as owners achieved significant gains due to the scarcity of prompt tonnage. The Four Turandot (34,428 dwt, 2012) open in Puerto Cabello on 19/20 June was fixed for two to three laden legs with Atlantic redelivery at $13,500, though some sources indicated delivery at SW Pass at $15,500. The Continent and Mediterranean experienced a resurgence with brokers noting small gains. Conversely, the South Atlantic saw further weakening due to limited inquiries and an increasing tonnage list.
In Asia, the market remained relatively balanced with a healthy cargo list reported; however, more fresh inquiries will be necessary to sustain the current situation. In North China-Japan, there was increased optimism as brokers noted improving cargo levels. Vessels ranging from 22,000 dwt to 28,000 dwt were fixed at rates between $7,000 and $8,000 for intra-Pacific trips.
3. Supramax
The Atlantic areas showed a positive trend throughout the week. The Mediterranean and Continent saw rates around $15,250 by the end of the week. Reports indicated that charterers rated a Supramax open in the Marmara Sea at $17,500 for a trip with grain to the fronthaul direction. In contrast, the US Gulf and ECSA experienced a downturn with fewer cargoes being traded.
In Asia, the market demonstrated a positive trend with notable hire rates. A 63,000 dwt vessel open in Kohsichang was fixed for one trip from Sumatra to China at $19,000. Charterers rated a 58,000 dwt vessel open in South China at $15,000 for a trip from East Kalimantan to China. Another 56,000 dwt vessel was fixed at $17,000 passing Singapore for an inner SEA trip. The China/Feast market reported stability in both cargo availability and hire rates. Charterers rated a 57,000 dwt vessel at $12,500 delivery CJK for a trip to Southeast Asia. Meanwhile, an Ultramax open in Bohai Bay was rated at $14,000 for a trip to the WCI/PG range.
The Indian market remained stable in the West Coast and PG range. Reports indicated that an Ultramax open in WCI was rated at $19,000 for a trip via PG to Bangladesh and $18,000 for a trip to China. In East Coast India, 57,000 dwt vessel was rated at $13,500 for a trip from East Coast India to China with iron ore.
By Ascent Bulk
