SMALL HANDY
The Pacific market experienced a fairly active week for small tonnage vessels. Owners continued to utilize exported rice from Thailand, securing decent offers for quick voyages to reposition their vessels. Vessels ranging from 8,000 DWT to 13,000 DWT were able to secure rates around $4,200 USD DOP for various voyage options. Additionally, other commodities began to appear in the market. Reports indicated that a 12,000 DWT vessel was fixed for bagged cement at approximately 14 pmt, while a scrap order was offered at low 20s but refused by owners aiming for high 20s. Owners generally preferred northbound routes, anticipating better trading opportunities for their next plans.
HANDYSIZE
The Handy segment showed some positive trends in parts of the Atlantic last week. However, pessimism persisted across the Continent and the Mediterranean due to an imbalance in the tonnage-to-cargo ratio, which added pressure on owners with prompt vessels, forcing them to reduce fixing levels amid fierce competition. In the South Atlantic, although some prompt vessels were still seeking employment, an air of optimism was building for vessels opening in mid-June, with expectations of increased enquiries in the coming days. The Argo B (35,314 DWT, 2010) was rumored to have been fixed for a trip from Houston via the Red Sea to Port Said with grains at a rate of $11,000, though some reports suggested $12,000 with details yet to be confirmed. In Asia, despite a holiday in Singapore, brokers reported a slow return but maintained a generally positive outlook. Increased enquiries, particularly for the logs trade, helped sustain positive rates for tonnage across Southeast Asia and North China-Japan. According to market reports, a vessel with 28,000 DWT was fixed at around $10,000 for an intra-Asia trip.
SUPRAMAX
The Supramax segment generally exhibited a downtrend. Pacific: Brokers reported limited activities. The Mv Thor Magnhild (56,000 DWT, 2006) open in Lansha at the end of May was fixed at $13,000 DOP for a trip via Indonesia to China. The Mv Fratzis Star (53,000 DWT, 2005) open in Sihanoukville at the end of May was fixed at $14,250 for a trip via Indonesia to Cambodia. Atlantic: Further rate declines were seen in the US Gulf due to limited fresh enquiries, forcing owners to offer discounts. The Mv Crimson Queen (58,140 DWT, 2014) open in Lagos at the end of May was fixed basis delivery Takoradi for a trip to Greece with bauxite at $14,500. The Mv Ocean Crown (52,347 DWT, 2005) was reportedly fixed from Santos to Southeast Asia with an intention of carrying sugar at approximately $14,500 plus a $450,000 ballast bonus.
By Ascent Bulk.
