- Small Handy
This week, the Small Handy market in Southeast Asia demonstrated a mixed freight landscape. Steel scrap and bagged cement cargoes held firm, especially on routes to Chittagong, whereas bulk fertilizer cargoes continued to face rate pressure amid a surplus of tonnage and intense competition. Key rate drivers included parcel size and cargo handling efficiency. Scrap cargoes to Bangladesh maintained elevated levels despite mid-size parcels, largely supported by congestion at Chittagong port and associated high handling charges. Market rumors suggested that some fixtures were concluded at very high-$20s/MT for scrap shipments from Southeast Asia to Bangladesh.
In contrast, the fertilizer market remained soft. A reported parcel of approximately 13,000 MT was fixed at low-teens/PMT for a short-haul voyage within Southeast Asia. Cement and clinker trades remained largely in line with expectations, although some downward pressure on demand was noted regionally. Looking ahead, the upcoming monsoon season could cause logistical disruptions across Indian and Southeast Asian ports. While Bangladesh’s demand for steel scrap continues to provide some bullish sentiment, a slowdown in buying activity could lead to a sharp correction in rates.
- Handysize
The Handysize market showed increased momentum this week, especially in the Continent and Mediterranean regions where fresh demand and more activity were noted, although freight levels remained largely at last-done levels. In the South Atlantic and US Gulf, activity picked up considerably with several new cargoes surfacing across all size ranges. With a tightening tonnage list, charterers were observed raising their bids, indicating a potentially stronger market in the coming weeks. In terms of fixtures, the MV Supernova (36,367 dwt) was secured for a scrap cargo loading in the Baltic and discharging in East Mediterranean, though no further details were reported. Meanwhile, the MV Electra GR (37,325 dwt) was fixed from the North Continent for a trip or short-period employment at $11,500.
In Asia, the market remained steady, with tonnage and cargo availability largely balanced across key regions. The MV Clipper Aegina (32,691 dwt), open at Kohsichang on 10th June, was reported fixed for a gypsum trip to Japan at $11,000. Elsewhere, vessels between 28,000 and 32,000 dwt were reportedly fixing in the mid $6,000s to mid $7,500s for intra-Pacific voyages.
- Supramax
The Supramax market gained some traction this week, particularly in the Atlantic basin, while the Continent and Mediterranean areas remained relatively subdued. In contrast, activity in Asia softened slightly, with a few period interests noted but limited firm demand overall. In West Africa, the Mv Dionisis (63,480 dwt, built 2019) open in Tema was reportedly fixed to load soybeans from Barcarena for a long-haul voyage to China at a rate of $16,500, underscoring firm demand for grain runs from the Atlantic to the Far East. Over in Asia, the Mv Orient Arrow (60,293 dwt, built 2017) open at Kemaman secured a fixture for a trip from Indonesia to China at a reported rate of $12,000, though some sources indicated a slightly softer level at $11,500. Additionally, the Mv Jin Xiang (61,414 dwt, built 2012), open in Kendari, was fixed for a voyage via Indonesia to the West Coast of India at $14,000, reflecting isolated strength on certain routes despite the overall softer Pacific tone.
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