- Small Handy – The Pacific market for small tonnage remained steady this week, similar to last week. Vessels ranging from 7,000 dwt to 10,000 dwt were offered at high USD 30s to around USD 40 pmt from owners. A 7,700 wbp shipment from Indonesia to the Philippines was fixed at high USD 30s pmt. Additionally, some charterers expressed interest in hiring vessels for periods of 3/4 months or 2/3 laden legs. One vessel of 11,000 dwt was offered at USD 5,300 for 3/4 months. Meanwhile, a 12,000 mt bulk urea shipment from Butterworth to Kohsichang was fixed at USD 19 pmt. Vessels ranging from 12,000 dwt to 15,000 dwt were rated around USD 7,000 to USD 9,000 for time charter trips.
- Handysize – For the handy segment, last Friday saw the Baltic Handysize Index (BHSI) gain 3 points, rising to 752. Meanwhile, the 7TC (Time Charter Average) improved by USD 65, settling at USD 13,543. In the Continent and Mediterranean regions, there was continued downward pressure on rates as fresh demand remained scarce, impacting available tonnage. Conversely, optimism persisted in the US Gulf and US East Coast markets due to a shortage of prompt tonnage. Sources indicated an increase in inquiries, leading many to anticipate further rate increases. The South Atlantic exhibited positive signs with increased cargo visible in the market. Across Asian markets, activity was subdued, leading to minor adjustments in prompt rates. However, some shipowners displayed reluctance to lower rates for voyages into Southeast Asia, reflecting cautious market sentiments. The Indian market experienced relatively scarce cargo availability. A 32,000 dwt vessel was offered at USD 9,000 DOP for a shipment from ECI to WCI. Alongside a 32,000 dwt vessel, charter rates are approximately in the low USD 10,000 range in the Asia-Pacific region.
- Supramax – The Atlantic regions exhibited a positive trend throughout the week. Reports indicated that charterers assessed a Supramax vessel open in the Marmara Sea at $23,000 for a grain trip to India. Conversely, the US Gulf and ECSA saw a downturn with fewer cargoes being traded. In Asia, the market showed a positive trend with noticeable increases in hire rates. A 63,000 dwt vessel open in the Philippines was rated at $18,500 for a trip from East Kalimantan to China. Charterers rated a 58,000 dwt vessel open in South China at $14,000 for a clinker trip from Vietnam to Korea. Another 56,000 dwt vessel was fixed at $15,500 passing Singapore for an inner SEA trip and $17,000 for a trip to India. The China/Feast market reported stability in both cargo availability and hire rates. Charterers rated a 55,000 dwt vessel at $12,500 delivery CJK for a trip to Southeast Asia. Meanwhile, a 57,000 dwt vessel open in Dafeng was rated at $15,000 for a trip to WCSA. The Indian market was less active in the West Coast and PG range. Reports indicated that a 53,000 dwt vessel open in Kandla was rated at $12,250 for a trip via PG to South China, while a 63,000 dwt vessel was fixed at $15,500 for a salt cargo trip via WCI to China. In East Coast India, a 56,000 dwt vessel was fixed at $12,500 for a trip from East Coast India to China with iron ore.
By ASCENT BULK
