1.Small Handy
Vessels ranging from 6,000 to 9,000 DWT have been trading at hire rates between the low USD 3,200s to USD 4,500, while larger vessels between 10,000 to 15,000 DWT have been securing rates around USD 7,000 for shipments within the Southeast Asia region. The freight rate for wood pellets from Kota Kinabalu to Korea was reported at the low USD 30 per metric ton (PMT). Meanwhile, alumina hydrate shipments from Thatong to Muara were fixed at the high USD 10 PMT. Additionally, urea shipments from Butterworth to Koh Sichang were being offered at the mid-USD 10 PMT range. Freight rates for shipments to India remain stronger compared to Southeast Asia; however, vessel owners still prefer redelivery passing Penang. A 12,000 DWT vessel was reported to be fixed at around USD 8,000 for a steel coil shipment from South Korea to India. Meanwhile, steel scrap shipments from Jurong to Chittagong were offered at over USD 20 PMT. Additionally, bagged rice shipments from Thailand to Yemen were offered at around USD 40 PMT, though finding vessels willing to trade on this route remains a challenge.
- Handysize
The week ended on a positive note, with growing optimism across both basins. The 7TC average rose by USD 119, closing at USD 11,052. The Continent-Mediterranean region continues to show strong momentum, while the South Atlantic remains active. Meanwhile, the U.S. Gulf is experiencing rising rates driven by fresh demand. In Asia, the market remains steady, supported by increased demand in Southeast Asia and a stable tonnage supply, which helps sustain elevated rates. Additionally, a fixture has been secured for a voyage from Dampier, scheduled from March onward. We anticipate a revitalized Asian market following the conclusion of the Ramadan holiday
- Supramax
The Supramax market witnessed mixed activity across different regions. In the US Gulf, the Pan Regina (63,243 DWT, 2020) was reportedly fixed for a petcoke shipment to Southeast Asia at USD 20,000 APS. Meanwhile, the Xin Zheng Sea (64,128 DWT, 2024) was heard fixed from Lagos for a trip via Brazil to the US Gulf at USD 13,500 APS. Similarly, the SSI Vigilant (63,861 DWT, 2022) secured a fertilizer shipment from Antwerp via Herøya to China at USD 15,500 APS.
In the Pacific, Indonesia-China coal trades remained active. The Heng Tai Hong (56,865 DWT, 2010) secured a coal shipment from Guangzhou, South China, to China at USD 8,500, while the SJ Colombo (55,989 DWT, 2010) was fixed for an Indonesia-North China coal run at USD 9,500. Additionally, the Josco Guizhou (61,307 DWT, 2020) was reportedly fixed for a grain shipment from South Korea via the North Pacific to the Philippines at USD 11,000.
Elsewhere, the Annita (53,688 DWT, 2005) was fixed for a fertilizer trip from North China to the Persian Gulf at USD 12,000. The CL Hengyang (64,726 DWT, 2023) secured a voyage from Chittagong via East Coast India to China with iron ore at USD 10,000. Meanwhile, the Green Genie (61,202 DWT, 2013) transported coal from Maputo to West Coast India at USD 15,250 plus a USD 152,500 ballast bonus.
Finally, the Evangelia D (61,517 DWT, 2014) was fixed for a manganese ore shipment from Port Elizabeth to China, further demonstrating the steady demand for bulk commodities in key global trade routes.
Best regards,
