A typical Monday is marked by a lack of momentum, where dithering prevails. Attempts to cover ECSA stems by taking tonnage in the East are still happening with tonnage now being taken at US$ 33,500 daily. For October, Black Sea grain charterers are facing numbers of US$ 37,000 daily basis Singapore delivery. Rates off the Continent for Supramaxes have dropped to around US$ 34,000 daily for a trip to the Med with scrap and low US$ 30,000s daily for trips to ECSA. Handysizes are said to be about the same. Handysizes appear to be owners’ cash cows anyway.
From the Black Sea, grain charterers are unwilling to face US$ 57.5/mt for 25,000mt from Novorossiysk to Tunisia and are left with no vessel, which is not a preferable option, one should think. Handysize brokers recommended their owners of a 33,000 dwt logger to quote US$ 35,000 daily for 4-6 months of trading with delivery Gibraltar. For front haul runs, tonnage of 35,000 dwt is getting charterer interest. Spot rates from the Red Sea to China for 35,000 dwt tonnage have been hovering at rates of around US$ 49-50,000 daily. Because of Covid-19 to cover India stems from Red Sea is a tall order with owners now extremely reluctant to consider this direction.
A couple of cases have been reported about vessels discharging, including death tolls, which isn’t much of an invitation for the shipowners. From the ECSA, front haul rates on Ultramax tonnage have dropped to US$ 26,000 daily plus US$ 1,600,000 BB. Rates for Handysize vessels of about 35,000 dwt are hovering around US$ 37-38,000 daily and around low US$ 30,000s daily range for trans-Atlantic business. South Africa has been another stronghold to enrich the owners. Rates to West Africa on Supramax ships are hovering around US$ 45,000 daily. Handysizes in the East are doing very well, too, with owners of a 40,000 dwt seeing almost US$ 40,000 daily for a 60-day trip from EC India into the Mediterranean-Continent area. For a 3-5 month period, owners of a 37,000 dwt have been talking US$ 37,000 daily.
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