Small Handy
The market experienced a relatively quiet week in the Asia-Pacific region with stable sentiment. Market reports indicate that vessels of around 10,000-11,000 DWT were offered at approximately $6,000 for short intra-regional trips. There were also rumors of 6,000 tons of rice being traded at high $30s PMT for a trip from Thailand to Indonesia. However, cargo charterers seem hesitant to fix at this level, targeting slightly lower freight rates.
Handysize
The Handy market is trending downward, with limited activity impacting rates across several regions. Reported rates in the Continent and Mediterranean appear stable, while the South Atlantic remains balanced with minimal fluctuations, indicating stability in this region. In the US Gulf, challenges persist, with reports suggesting that trans-Atlantic shipment rates may have bottomed out. There are also rumors of vessel owners in NCSA considering ballasting to ECSA due to insufficient inquiries in the US Gulf.
In the Pacific, limited fresh inquiries are exerting additional downward pressure, prompting vessel owners to lower rate expectations to secure cargo. Reports indicate that the Indigo March (38,000 DWT) fixed a salt cargo from West Australia to Indonesia at $13,000. The Mobile (34,000 DWT) reportedly failed on a similar trip in the low $13,000s, with no further details disclosed.
Supramax
The Atlantic market remained subdued throughout the week. A 57,000 DWT vessel open in West Africa was discussed at $13,000 for a trip to India carrying fertilizers. Additionally, a 56,000 DWT vessel open in Ghent reportedly fixed at $15,750 for a trip to Egypt.
In Asia, the market experienced significant declines with fewer fresh inquiries. A 56,000 DWT open in Singapore was fixed at $12,000 for a trip via Indonesia to CJK. Meanwhile, charterers rated a 63,000 DWT open in Suao at $10,000 for a coal trip to South China.
The China/Feast market saw reduced cargo availability and lower hire rates. Charterers rated a 58,000 DWT at $9,000 delivery CJK for a trip to Indonesia with general/breakbulk cargo. A 56,000 DWT vessel open in Bohai Bay was rated at $10,500 for a trip to Bangladesh.
The Indian and PG markets remained weak, with limited cargo trading. Reports suggest a 64,000 DWT open in Mumbai was rated $11,500 for a coastal trip. A 54,000 DWT vessel fixed a fertilizers cargo from PG to WCI at $12,500, while in East Coast India, a 58,000 DWT vessel was fixed at $8,000 for a coal trip from Indonesia to China.
BY ASCENT BULK
