Small Handy
Small market this week haven not changed much as last week. Far East – South East Asia trading are more active. Dwt 10,000 – 12,000 is exchanged at low usd 5,000 but Owrns prefer better rate from mid usd 5,000 to low usd 6,000. Some cargo as sand ex Viet Nam to Japan, Palm Kernel ex Sahabat to S. Korea is aiming at freight low 20s. In South East Asia, bagged rice ex HoChiMinh to Philippines is traded at high 20s. Dwt 13,000 mt is fixed at high teens for urea from Butterworth to Bintulu. This is the same freight level exchanged for clinker ex North VietNam to Kuching. With short voy for pipe ex South China to North Vietnam, freight is exchanged around mid teens to high teens. Beside, scrap from South Easdt Asia to ECI still fixed with low 30s, scrap from Far East to ECI still got the good freight at low 50s.
Handysize
The Handysize market continued to strengthen, with the 7TC average reaching a new yearly high of $16,688/day. The gains were once again driven by the Atlantic, particularly the US Gulf and South Atlantic, while the Asian market remained largely balanced.
In the Atlantic, stronger cargo demand and limited vessel supply pushed rates higher. Trips from Recalada and the US Gulf to Skaw-Passero saw notable increases. A 2017-built Handy fixed from Brazil to the US Gulf at $24,000/day, while a 2010-built vessel fixed from Recalada to the West Coast South America at $25,000/day. Sugar cargoes from Morocco to Brazil and within the Lisbon-London range were also reported in the mid-$26,000s/day.
Meanwhile, Asia remained relatively stable. Several firm fixtures concluded earlier in the week helped support sentiment, although fresh activity was limited. A Handy reportedly fixed two laden legs from Lanshan in the $19,000s/day.
As expected, strong South Atlantic demand continued to support the market and pushed spot rates to fresh highs. However, the forward curve moved lower, with both nearby and deferred positions easing. This creates a growing gap between a firm spot market and a more cautious forward outlook.
Going forward, the key question is whether South Atlantic demand can continue to support further gains, or whether a softer forward market and flat Asian conditions will eventually cap the rally.
In Asia, a 28,000 DWT Handysize vessel open in the CJK region was reported fixed for a steel cargo to Indonesia at around USD 14,000 per day, reflecting relatively steady sentiment in the regional market.
Supramax
The Supramax/Ultramax market maintained positive momentum across both the Atlantic and Pacific basins, although improvements remained uneven between regions.
In the Atlantic, the market stayed relatively stable, supported by fresh cargo demand from the U.S. Gulf and South America. An Ultramax open in Houston was discussed around USD 28,000/day for a grain trip to India, while a 61,000 DWT vessel open North Brazil was reportedly fixed at USD 29,500/day for a trip to Egypt. In addition, a quality Supramax open Dakar was heard fixed with ore to South China at around USD 18,500/day for prompt delivery.
In the Pacific, sentiment improved further, particularly in the NOPAC region where tight tonnage continued to support Ultramax rates around USD 20,500/day basis CJK delivery. Backhaul steel cargoes from China to the Mediterranean and West Africa also remained firm, with discussions heard in the low USD 22,000/day range for general cargo
In the southern region, clinker and Australian cargoes continued to provide healthy support. A 63,000 DWT vessel open Cebu was reportedly seeing levels around USD 21,500/day for a trip via Australia to Japan, while a 56,000 DWT vessel was fixed at USD 23,000/day for a clinker shipment from Cam Pha to Chittagong. For Indonesia/China–Southeast Asia trades, the market remained positive. A 56,000 DWT vessel open Hong Kong was fixed around USD 15,500/day to CJK, while a 63,000 DWT vessel open Gresik was holding near USD 22,000/day for trip to Thailand.
In the Indian Ocean, a 53,000 DWT vessel was heard fixed around USD 13,500/day for a WCI–AG round trip, while strong South African demand continued to support Ultramax fixtures around USD 23,500/day plus a ballast bonus of USD 250,000. Overall sentiment remained cautiously positive despite ongoing geopolitical risks and bunker price volatility.
Best regards,
