1.Small Handy
The Pacific market for small tonnages has remained subdued this week, reflecting ongoing challenges in the region. Vessels with deadweight tonnages ranging from 10,000 to 20,000 dwt are being fixed at rates between the low USD 3,000s to mid USD 5,000s. Despite the availability of a significant number of vessels opening promptly in the North Vietnam-South China range and around Singapore, many owners are struggling to secure suitable cargoes for these ships. This imbalance highlights the current oversupply in the market, driven in part by reduced demand from charterers during this period.
2.Handysize
The market is currently on a downward trend, with the BHSI dropping by 11 points to 453 and the 7TC closing at $8,161.In the Continent and Mediterranean regions, rates have either remained stagnant or declined, showing no indications of a rebound. While new inquiries are emerging in the South Atlantic and US Gulf, the abundance of available tonnage continues to cap any significant rate hikes. Similarly, the Asian market faces comparable pressures, with market dynamics showing little to no change. Currently, in the area from PG to the Japan range, cargo availability is extremely scarce, while spot vessels are abundant. In the Pacific region, 28k DWT vessels are being fixed at rates of $4,500–$6,500 APS, depending on the type of cargo.
3.Supramax
Supramax market continues to face a downward trend with persistent negative sentiment and no apparent signs of recovery in the near future. Mv Asian Eternity (64,683 dwt 2024) was reported to have been fixed for a trip from Altamira, delivering to the US Gulf, redelivering to the Continent at $19,500. MV African Isabella (63,688 dwt 2022) was reported fixed for delivery from Albany at the end of January for a trip to Japan in the low $12,000s. Mv Queen Vivian (53,270 dwt 2023) was reported to have fixed a trip from Chittagong, passing Singapore via Indonesia, for delivery to China in the high $5,000s
Best regards,
