Small Handy
The Far East market has seen significant interest in small tonnages due to the movement of larger vessels to the South. India remains the least favored area, as cargo shortages continue to pose problems for small tonnages. As predicted, the fertilizer market has become more active, offering attractive rates for small tonnages. A 6,500 MT fertilizer shipment from Bintulu was reportedly fixed at low $30s per metric ton. Vessels around 10,000 dwt are rated around $4,000 DOP. We can expect some positive shifts in the small tonnage market in the coming weeks, but India needs to offer more for small tonnages to support the market.
Handysize
For the handy segment, sources indicated a continuation of the week’s theme with limited fresh enquiry across the Continent and the Mediterranean, leading to a negative outlook for owners of prompt tonnage. The South Atlantic saw some resistance with rates, but an increase in cargo availability could lead to an improvement in numbers. In the US Gulf, a positive undertone remained with limited tonnage availability, and most owners held out for better rates as more fresh enquiries were expected. The Gullholmen Island (38,309 dwt, 2011) was rumored to have been fixed basis delivery WWR San Lorenzo for a trip to the Caribbean at $21,000.
Limited cargo availability from Australia and Indonesia led to a weaker Pacific market, adding slight negativity to the region. A 22,000 dwt vessel was exchanged at $8,000 for a trip to ECI, and some charterers rated around $7,000 for period.
Supramax
The supramax segment started slightly softer early last week but saw an improvement in hire rates by the weekend.
In the Atlantic, the Mv Bao Success (56,918 dwt, 2009) open Otranto was said to have been fixed basis delivery passing Canakkale for a trip via Russia to China at $24,000.
In Asia, the Mv Petrus (57,374 dwt, 2011) open Ho Chi Minh City was fixed for a trip to China with an intended cargo of nickel ore at around $15,000. The Mv African Sanderling (58,798 dwt, 2008) open Huangpu was rumored to have been placed on subjects for a trip via East Kalimantan to Brunei at $13,000. The Mv Star Lutas (61,347 dwt, 2016) fixed one trip of coal from Indonesia to Thailand at $16,750 delivery Cigarding.
BY ASCENT BULK
