- Small Handy
The small handy market demonstrated a mixed performance over the past week, marked by notable uncertainty regarding cargo readiness across the Pacific region. Despite this, prompt bookings faced tremendous pressure, pushing charterers to raise freight rates. The bagged rice market showed signs of gradual recovery, with several fixtures reported. Rumors suggested that an 11,000 DWT tweendecker was fixed at a high USD 5,000 level for a voyage passing the Thai Gulf en route to Japan. Meanwhile, in the northern region, the scrap trade began to pick up, providing a slight boost to the market. It was reported that approximately 10,000 tons of scrap cargo was fixed at a mid-USD 50s per metric ton for a trip to the East Coast of India, although further details remained undisclosed.
- Handysize
The Pacific Handysize market remained steady over the past week, with freight rates holding firm for mid-sized vessels. As the holiday season draws nearer, there has been an increase in orders for handy-sized vessels, particularly within the Pacific region. Current rates for a 32,000 metric ton vessel in the Far East are hovering around USD 8,000. Activity during the week was relatively decent, mainly attributed to the scarcity of spot cargoes. As a result, owners are showing patience, opting to wait and better position their vessels. While rates have not shown much movement, the rising number of cargoes—especially fertilizer shipments scheduled for early May—is fostering a slightly more positive sentiment in the market, even though this optimism has yet to translate into higher fixing rates.
- Supramax
The Supramax market this week remained largely unchanged in the Atlantic, while the Pacific showed a slightly firmer tone despite a slow cargo inflow from Southeast Asia. Positive support came from increased shipment activities out of South Africa and the Indian Ocean region, helping to bolster the Pacific market. Several fixtures were reported: the Mv SSI Invictus (63,735 DWT, 2024) was fixed basis delivery Kandla for a salt cargo trip via the West Coast of India with redelivery in China at a rate of $13,000. The Mv Tomini Liberty (63,510 DWT, 2021) was heard fixed basis Port Elizabeth for a manganese ore trip redelivering in China at $17,000 plus a $170,000 ballast bonus. The Mv ASC Glory (58,018 DWT, 2009) was reportedly fixed at around $14,000, basis delivery Singapore for a trip via Indonesia to Brunei. Meanwhile, the Mv PVT Diamond (55,623 DWT, 2011), open Koh Sichang end-April, was fixed for a coal trip via South Kalimantan redelivery Thailand at a hire rate of around $13,000.
Best regards,
