1. Small Handy
This week has been relatively quiet due to the aftermath of Typhoon Yagi, which caused significant disruptions. Many shipments were either canceled or rescheduled. Some Chinese operators have begun seeking period charters for smaller tonnages trading between the Red Sea and Far East, signaling potential recovery in the PG-India region after a prolonged period of inactivity. Rumors suggest a 10,700 DWT vessel was fixed at around $5,500 to $6,000 for a 6-month period for similar trading routes, excluding the Red Sea. The upcoming week is expected to remain quiet due to extended holidays in China, India, South Korea, and Japan.
2. Handysize
The Handysize market in Europe and the Mediterranean continues to face downward pressure, largely due to limited cargo availability, contributing to a negative outlook. In the South Atlantic, while there has been some fresh demand, little to no changes were observed in the bid-offer spread. In the US Gulf, charterers have slightly increased their bids, leading to a slightly more supportive market. The Great Faith (36,629 DWT, 2018) was put on subjects in New Orleans for a trip to the West Coast Americas at $19,250. Similarly, the Strategic Fortitude (37,829 DWT, 2016) was also on subjects for a trans-Atlantic trip with dirty cargo to the Mediterranean at $20,500 basis delivery APS. Details remain sparse. The Pacific market remains subdued, with rates consistent with recent levels. A 28,000 DWT vessel was reportedly fixed at $9,000-$10,000 for a Pacific round voyage.
3. Supramax
The Atlantic market remained relatively inactive this week. A 64,000 DWT vessel opening in Brazil was fixed at $23,000 for a trip to the Mediterranean with grains. In the Mediterranean, the MV Xin Hai Tong (57,000 DWT) was reportedly fixed at $20,000 for a Black Sea to Bangladesh voyage. In Asia, the market showed stability but lacked new enquiries. A 56,000 DWT vessel open in South China was fixed at $12,500 for an Indonesia to Xiamen trip, while charterers booked a 63,000 DWT vessel open in the Philippines for $17,000 on a trip from East Kalimantan to North China. In Singapore, a 64,000 DWT vessel was rated at $18,000 for a coal trip to India, while a 56,000 DWT ship open in Fangcheng was fixed at $16,000 for a clinker trip to Bangladesh. The China/Feast market remained stable in both cargo availability and hire rates. A 55,000 DWT vessel was fixed at $14,000 from CJK for a trip to the Persian Gulf with breakbulk cargo, while a 57,000 DWT ship in Xingang was fixed at $12,500 for a trip to Weda Bay. The Indian and Persian Gulf markets continued to be weak, with limited cargo activity. A 64,000 DWT ship open in Mumbai was fixed at $12,500 for a trip to South China, while a 58,000 DWT vessel was fixed at $15,500 for a trip from the Persian Gulf to West Coast India with limestone. In East Coast India, a 58,000 DWT ship was fixed at $9,500 for a trip to China with iron ore.
BY ASCENT BULK
