Small Handy
Pacific small-tonnage vessels saw quieter activity this week. Vessels of 6,000 to 13,000 DWT were generally offered at freights from the low USD 20 pmt to low USD 30 pmt range. A clinker shipment from Lolak to Campha was concluded at a rate in the mid-USD 20 pmt. Most vessels showed a preference for destinations in North China or Korea, where freight rates remain strong and where there is more accessible cargo for subsequent voyages. Additionally, port congestion has caused some delays, affecting laycans for a few shipments.
Handysize
The last week ended quietly, with limited new developments. Sentiment in the Atlantic market remained steady, showing little change from the previous day. In the South Atlantic and U.S. Gulf, activity was consistent, driven by new demand, resulting in a slight uptick in rates. Meanwhile, the Asian market closed the week on a softer note, as increased tonnage put downward pressure on rates. The 7TC average dropped by $24, settling at $12,926.
A 38,000-ton ship was fixed for delivery from West Africa to the Far East carrying minerals at $16,000, but specific details were not provided. A 38,000-ton ship open in Penglai on October 31 was reported to be fixed for a short trip to SE Asia at high $10,000, with further details undisclosed.
Supramax
The Atlantic and Continent regions continued to demonstrate strength. Owners in the U.S. Gulf reported hire rates around $20,000–$25,000 for fronthaul trips. A 60,000-DWT vessel was reportedly fixed from Antwerp to the Eastern Mediterranean at $21,000.
The Asian market faced downward pressure due to a surplus of tonnage in both the North and South regions. For instance, the MV PACIFIC Oriole (57,809 dwt, 2011) open in Shanwei was fixed for an Indonesia-to-Thailand trip at $10,750, while another 57,000-DWT vessel open in Thailand was secured for a voyage via Indonesia to South China at $12,000. The Indian market also exhibited a negative trend, with a 56,000 DWT fixed from East Coast India to China at $8,750.
BY ASCENT BULK
