1. Small Handy:
The week concluded positively with the market carrying on stable development across the region. South East Asia marked the recovery of bagged rice activity, with rumors of about 5,000 tons traded at low 30 pms for a short trip within the region. Despite fluctuations from other sizes, small tonnages are predicted to maintain the current trend in the extended week.
2. Handysize:
Market fundamentals in the Continent and Mediterranean remain weak. A 36,000-ton vessel was reportedly fixed for redelivery Algeria with grains at $8,500, though further details are undisclosed. The Seastar Explore DWT 34,000 was reported fixed for delivery APS West Mediterranean to redelivery Continent – Baltic at a rate below $8,000. Despite some demand in the US Gulf and South Atlantic, it has not been enough to reduce tonnage oversupply, keeping rates steady. In the Pacific, little movement has been noted, though the tonnage list seems slightly shorter. Limited cargo activity has kept rates relatively stable, with DWT 28,000-32,000 fixed at mid $8,000 – mid $9,000 for intra-Pacific trips.
3. Supramax:
The Atlantic remained less active throughout the week. A 57,000 DWT open WARF was rated USD 13,500 for a trip to India with fertilizer. A 56,000 DWT open Ghent fixed at $15,750 for a trip via CONT to Egypt.
In Asia, the market demonstrated a significant drop with fewer fresh enquiries. A 56,000 DWT open Singapore was fixed at $10,500 for a trip via Indo to CJK, while a 63,000 DWT open Hongkong was rated at $10,000 for a trip via East Kalimantan to South China.
The China/Feast market faced reduced cargo availability and lower hire rates. A 58,000 DWT was rated at $8,000 delivery CJK for a trip to Indonesia with general/break-bulk cargo, while a 56,000 DWT open Bohai Bay was rated $10,500 for a trip to Bangladesh.
The Indian and PG market remained weak with minimal cargo traded. Reports indicated a 64,000 DWT open Mumbai was rated at $11,500 for a coastal trip, while a 57,000 DWT fixed via PG to WCI at $10,500 with fertilizers. In East Coast India, a 58,000 DWT was fixed at $7,000 for a trip from Indo to China with coal.
BY ASCENT BULK
