Smallhandy
The small-size market remained largely unchanged this week, with limited fluctuations across most trading routes. On the Southeast Asia–Far East route, a 16,500 mt fertilizer cargo from Yangzhou to Gudang and Port Klang was quoted in the high USD 30s pmt, while owners were targeting freight levels in the low USD 40s pmt. Meanwhile, a 15,000 DWT vessel was offered at the low USD 10,000s/day for a one time charter trip (TCT) from South Korea to Haiphong. A 10,000 DWT vessel was fixed at around USD 8,000/day for a TCT carrying nickel iron from Sulawesi to China, although owners preferred redelivery in Central or North China only.
Within Southeast Asia, a 7,700 WBP cargo from Jakarta/Surabaya to the Philippines was quoted in the mid-to-high USD 40s pmt. A 7,000 mt sulphur cargo from Jurong to Futong was discussed in the high USD 10s pmt, while an 18,000 DWT vessel was negotiating similar freight levels for a 15,000 mt bulk urea shipment from Muara to Koh Sichang. For a 6,000 mt prilled urea cargo from Haiphong to Davao, charterers were indicating freight in the low-to-mid USD 30s pmt, which was also the prevailing level for a 6,000 mt aluminium ingot shipment from Kalimantan to Port Klang.
In the Indian market, an 18,000 DWT vessel was offered at around USD 40 pmt for a 13,000 mt scrap cargo from Jurong to Chittagong. Meanwhile, a 7,000 DWT vessel was reportedly fixed on time charter at around the mid USD 5,000s/day. Overall, the mini-bulk market remained stable, with freight levels generally holding firm despite limited fresh momentum.
Handysize
Handysize remained under pressure, with the 7TC index falling another $104 to $16,027. Both the Atlantic and Pacific markets weakened again, and the Asian support seen earlier was still missing.
The Atlantic saw the biggest decline. Fewer cargoes from the US Gulf and South Atlantic forced owners to lower their ideas to fix prompt ships. In the Pacific, more open tonnage in Southeast Asia and the North Pacific, together with limited cargo demand, also pushed rates lower.
On the fixture side, a 2024-built Handysize fixed an inter-Caribbean voyage at $18,000 per day. A petcoke cargo from Houston to Morocco was reported at $20,000 per day. In Asia, a smaller ship fixed two Pacific laden legs at around $15,000 per day. Demand for scrap cargoes from the Continent and East Mediterranean was reported to be improving.
Yesterday we wondered if Asian demand could stop the Pacific from falling further. Instead, both the Atlantic and Pacific moved lower, with no fresh cargoes returning to support the market.
Overall, the Handysize market remains weak. Both basins are under pressure, and although scrap demand in Europe is improving, it is not yet strong enough to change the market trend.
Supramax
The Supramax/Ultramax market maintained stable across the Atlantic but Pacific basins have been soften noticeable.
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 17,500/day for prompt delivery.
In the Pacific, sentiment staying flat particularly in the NOPAC region where cargo bids at lower side around USD 19,000/day basis CJK delivery on Ultras. 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, Australian cargoes continued to provide healthy support despite coal and clinker not so active. 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 19,000/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 Bintulu was fixed around USD 14,500/day to CJK, while a 63,000 DWT vessel open Cigading was holding near USD 20,500/day for trip to Vietnam
In the Indian Ocean, a 53,000 DWT vessel was heard fixed around USD 15,500/day for a WCI–AG round trip, while strong South African demand continued to support Ultramax fixtures around USD 25,500/day plus a ballast bonus of USD 250,000. Overall sentiment remained cautiously positive, The Owrs have shown the intention for Hormuz passing according to current situation, despite of geopolitical risks and bunker price volatility.
Best regards,
