Smallhandy
Southeast Asian minor bulks—fly ash, wood pellets, ball clay and copper—are currently trading around the low-to-mid $20s/mt, with about $25/mt appearing to be a reasonable market reference for competitive regional employment
Handysize
The Pacific Handy market remained broadly flat throughout the week, with limited fresh enquiry and balanced tonnage keeping overall activity subdued. FEAST remained relatively firm, with charterers indicating dwt 38,000 around $17,000 for trips to SEASIA, while Owners continued to hold ideas around $18,000. Activity slowed towards the end of the week due to the Chinese holiday, limiting further upward momentum. Further south, SEASIA showed slightly softer sentiment as prompt tonnage gradually increased while fresh requirements remained limited. Aussie RV was indicated around $17,000 for 38,000 DWT opening Singapore, while period and legs were discussed around the $18,000 level. Despite softer fundamentals, Owners continued to maintain relatively firm ideas.Overall, the Pacific Handy market is expected to remain range-bound in the near term. FEAST is performing slightly better than SEASIA, but the market needs a meaningful increase in fresh enquiry to support any further rate gains.
Supramax
The Supramax/Ultramax market continued to remain relatively stable across the main trading areas. In the Atlantic, the market was broadly steady, supported by fresh cargo stems from the US Gulf and South America. An Ultramax open in New Jersey was fixed at around USD 34,000/day for a petcoke run to Turkey. Meanwhile, a 63,000 DWT vessel open in North Brazil was heard fixed at USD 28,500/day plus USD 350,000 BB for a grain run to Peru. Elsewhere, a 56,000 DWT Supramax open in Dakar was heard fixed at around USD 18,500/day for a trip carrying ore to South China. In the Pacific, the market remained quiet with limited fresh cargo, but tight tonnage continued to keep levels firm. In the North Pacific, fixing was expected around USD 22,000/day basis delivery North China on an Ultramax. Chinese steel cargoes were being negotiated at around USD 23,000/day and USD 21,000/day for trips to the Mediterranean and West Africa respectively, while Red Sea and Oman-bound trips were heard close to USD 25,000/day. In the South, Australian exports and clinker cargoes continued to provide support to the market. A 63,000 DWT vessel open in the Philippines was heard fixed at around USD 21,500/day for a trip via Australia to Japan. Meanwhile, a 56,000 DWT vessel in Qinzhou was fixed at USD 27,500/day for a clinker run to Chittagong. On the Indonesia/China–Southeast Asia routes, the market was affected by a significant decline in Indonesian coal trading activity into China. A 56,000 DWT vessel open in Singapore was fixed at around USD 15,500/day for a trip to China, while a 63,000 DWT vessel open in Bintulu was fixed at around USD 18,000/day for a coal run to Vietnam. The Indian Ocean finished the week on a mixed note across the different loading areas. From WCI, levels remained subdued, with rates, if anything, ticking slightly lower. One 56,000 DWT vessel was fixed at around USD 10,000/day APS Salalah to Vietnam. Meanwhile, in ECI, Ultramaxes continued to achieve around USD 22,000/day DOP for trips via Sumatra to WCI and around USD 14,500/day for trips to China. In South Africa, tonnage lists appeared to tighten, with several cargoes competing for similar ships towards the end of the week. Rates were eventually heard fixed at around USD 24,500/day plus USD 250,000 BB for a RBCT–Pakistan run.
Best regards,
