BMTI’s Continental Broker — Handy Bulk Viewpoint (22 June 2018)

HandysizeBrokers have been surprised by the huge number of fixtures reported, detrimental to the market’s performance. The Continent appears steady for Handies. Scrap charterers took 30,000 dwt ton­nage at US$11,000 daily to the East Med, grain char­terers were rating 35,000 dwt tonnage at US$ 9,500 daily to cover Rouen/Algeria. A similar rate this size of vessel should be worth for a trip to the US Gulf.

The Black Sea remains dispiriting with grain charter­ers trying to undercut last-done fixtures. From West Africa, Chinese log charterers keep searching for logger types and even Supramax tonnage to carry logs to China at levels around US$ 12-13,000 daily for 36-38,000 dwt tonnage and around US$ 13-14,000 for Supramax tonnage, respectively. The ECSA trade region has been slow with coastal charterers trading a 34,000 dwt vessel at around US$ 9,500 daily for 2 laden legs. The US Gulf re­mains disappointing for Handysize owners whilst the larger sizes keep thriving, with a 52,000 dwt taken for an inter-Caribbean employment at US$ 13,750 daily, and a similar size was fixed to Japan at a very good US$ 19,000 daily. Another 57,000 dwt was taken for a trip to the Med at US$ 15,500 daily. Handysize tonnage has been offered at just below US$ 30/mt for a grain cargo to Pisco, Peru, which looks very high in comparison with a rate of US$ 26/mt that was indicated for a 30,000mt cargo from Montreal to WCCA, which according to shipbrokers equates to something around US$ 12,500 daily. South African brokers have been talking of a fairly quiet week with Supramax rates to India hovering at around US$ 12,250 daily plus US$ 235,000 BB. An Ultramax vessel was done to China at an APS rate of US$ 13,500 daily plus US$ 350,000 BB. An okay rate of US$ 11,750 daily was conceded to owners of a 57,000 dwt Dolphin type vessel for a Mombasa round voyage with delivery and redelivery Richards Bay. Just recently an Ultramax was taken for a trip to the US Gulf at US$ 10,500 daily. Handysize charterers, who have been actively fish­ing for Handysize rates for a trip to the East, were told about the rather punchy freight of US$ 14,000 daily by the owners of a 36,000 dwt vessel.

The East has been suspiciously quiet, which either means that charterers are taking a breather and plan to return to the market next week or that the market is changing direction. Salt charterers have been rating a high consumer 35,000 dwt at US$ 8,500 daily for an Australian round voyage with delivery Singapore.

Would you like to read our shipbroker viewpoint every morning?
Subscribe to the BMTI DAILY REPORT today.

Comments are closed.