1.Small Handy
The Asian market remained relatively slow last week, though charterers attempted to push bidding rates higher, anticipating a positive trend in the upcoming week. In China, a 11,000 DWT tween-deck vessel was targeting the high USD6,000 level for a short-term charter of approximately three months. With a steady flow of steel exports, the market is expected to stabilize further in the coming week. In Southeast Asia, reports indicated that a 14,000 DWT vessel was rumored to have been fixed at a low USD5,000 level for a trip from East Malaysia to the Far East, though further details were not disclosed. Meanwhile, another 15,000 DWT vessel was seeking a mid-USD4,000 level for a trip from East Indonesia to China The Indian Ocean saw little to no activity for mini-size tonnage, as cargo availability remained scarce despite a large number of available vessels. This ongoing imbalance continues to pose challenges for the market in the region.
2. Handysize
The Handysize market experienced a quiet week with minimal new developments. The Continent-Mediterranean region showed positive momentum, maintaining a stable positional sentiment. The South Atlantic market remained active, with increasing rates driven by fresh demand. However, challenges persisted in the U.S. Gulf, where demand was insufficient to match the growing tonnage list. According to market reports, the MV Centurius (33,000 DWT), open in Iskenderun on March 20-21, was placed on subjects for a trip delivering to Canakkale and redelivering to the U.S. with grains at USD9,250.In Asia, while the tonnage count saw a slight increase, strong cargo volumes helped sustain competitive rates. The MV Nord Nanami (38,000 DWT), open in South Australia, was reportedly fixed for a voyage to Yangon, with redelivery via Penang, carrying grains at USD17,000, though further details were unavailable. Meanwhile, the Ever Gallant (28,000 DWT) was fixed for a one-year charter, with delivery in Kuching and redelivery within the Penang-Japan range at USD8,150 for the first leg and USD9,000 thereafter. Handysize vessels in the 28,000-32,000 DWT range were generally securing rates between the mid-USD7,000s and USD9,000 for trips within the Pacific.
- Supramax
The Supramax market remained subdued, with a clear gap between owners’ and charterers’ expectations. The Baltic Supramax Index (BSI) 10 Time Charter Average closed at USD12,309, reflecting a slight 0.6% decline week-on-week. In the Atlantic, sentiment varied, with the U.S. Gulf showing minor improvements in fronthaul rates while other submarkets remained weak. Notably, the Pan Regina (63,243 DWT, 2020) secured a petcoke trip from the U.S. Gulf to Southeast Asia at USD20,000 APS. Meanwhile, in the Pacific, sluggish demand and growing vessel availability kept rates fluctuating. The YM Summit (63,993 DWT, 2020) fixed from Zhoushan for a trip via North China to Chittagong with slag at USD12,000, while the CD Callao (63,851 DWT, 2019) obtained a North Pacific round voyage with redelivery in Southeast Asia at USD10,000. For Indonesia-China trips, the Jacob H (57,001 DWT, 2011), open in Surabaya, fixed a coal shipment to China at USD14,000, whereas the Heng Tai Hong (56,865 DWT, 2010), open in Guangzhou, secured a similar trip at USD8,500. Additionally, the SJ Colombo (55,989 DWT, 2010), open in Vung Tau, was fixed for an Indonesia to North China run at USD9,500. though the overall market remained challenged by limited fresh inquiries and mismatched expectations between market participants.
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