Market Overview
- Small Handy:
Freight levels for smaller tonnage in the Pacific witnessed a slight decline compared to the previous week. Vessels ranging from 10,000 to 18,000 dwt were negotiated at rates between the low USD 5,000s and high USD 6,000s. A 18,000 dwt vessel secured a fixture for bagged rice shipment from Thailand to Japan at high USD 6,000s. Additionally, 6,000 MT of urea in bulk from Bintulu to Thailand was contracted at mid-USD 17 per metric ton. An 8,000 dwt vessel completed a one-time charter trip from Sandheads to Bangladesh at high USD 4,000s. - Handysize:
The week concluded on a sluggish note, reinforcing a subdued market sentiment across both basins. The BHSI edged down by 5 points, closing at 549, while the 7TC index settled at USD 9,884. Activity in the Continent and Mediterranean regions remained limited, with freight rates holding steady. In the South Atlantic and US Gulf, moderate upticks in inquiries were observed, but abundant vessel supply restricted any substantial rate improvements. In Asia, owners of spot vessels adjusted their expectations downward amid limited cargo opportunities, resulting in further rate declines. - Supramax:
The market commenced the year in a subdued state, with limited activity as participants returned from the holiday season. Sentiment remained broadly pessimistic across both the Atlantic and Pacific basins, with a lack of clear momentum. Market direction is anticipated to become more apparent in the coming week. Notably, an Ultramax vessel was reportedly on subjects for short-period delivery at West Coast India at mid-$13,000s, though details remain undisclosed. The 11TC average began the year with a decline of $312.
In the Atlantic, Aquadonia (63,526, 2024) was reportedly on subjects for delivery at SW Pass for a trans-Atlantic voyage at $20,000. Meanwhile, Genco Vigilant (63,497, 2015) was fixed for clinker discharge from Oran to Coeymans, with redelivery on the US East Coast at approximately $7,500.
In the Pacific, Josco Guangzhou (61,326, 2020) reportedly failed on a trip via Indonesia to Thailand at $10,000. Additionally, Melinda (57,981, 2012) was said to have been fixed for a trip to West Coast India at $8,000, though no further details were disclosed.
BY ASCENT BULK
