BMTI Handy Bulk Market Update (18 June 2019)

supramax bulk carrierThe chartering market is still looking for direction and seems at odds to find it. An abysmally poor rate of US$ 7,000 daily from the Baltic via Continent was reported done an Ultramax open in the Baltic. Steel operators were predicting a flurry of fresh orders off the Continent for Handysize tonnage and have al­ready fallen prey to this forecast by getting in ton­nage of 30-38,000 dwt for a trip from the Conti­nent-US-NCSA range at US$ 8,000-9,000 daily. Swire are still open to cover an Ultramax from the Continent to Brazil after they failed to look at one at US$6,500 daily, which is gone now. For a quick local employment for Supramax tonnage charterers were thinking along the lines of US$ 5-6,000 daily, which one Ultra owner would not do below US$ 10,000 daily. Nut coke charterers were seeing 37,000 dwt tonnage at the daily equivalent of below US$13,000.

Handysize rates from Black Sea are still down as the rate of US$ 5,000 daily for a trip to the Continent is suggesting. From the Western Mediterranean Sea, Supramax tonnage was there at US$ 5,500 daily for a trip from Morocco to ECSA. Rates from the USG-NCSA area just about okay with a 37,000 dwt fixed to the East in the region of US$ 14-15,000 daily. Momentum has returned to the ECSA for Handysize tonnage. A vessel of 30,000 dwt was booked from Plate to NCSA at US$ 10,000 daily, whilst for trips to the Mediterranean and Morocco 33-35,000 dwt tonnage can command US$ 11,500 and US$ 11,000 daily respectively. The larger size vessels have been getting softer, whilst owners are hoping for a revival of demand as predicted by the end of last week. It has been a slow start to the week in the East where Handysize owners don’t even dare test the charterers and offer reasonable numbers forthwith such as US$ 7,000 daily on a 38,000 dwt from Korea to the PG or US$ 7,750 for a NoPac RV on a similar eco vessel.

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