Bulker Update by BMTI’s London Shipbroker (23 June 2020)

panamax bulkerAfter breaking US$ 30,000 daily early last week only to hit US$ 40,000 daily by the end, Capesize front haul rates seem to be taking a breather with the week starting on low activity but high hopes. Still holding just over US$ 40,000 daily on the assessment, front hauls are rumoured to be in negotiations for the week ahead, despite the mild reversal seen in the post-weekend session. Trans-Atlantic round voyages, meanwhile, long the hardest-hit of the long hauls, remain buoyant with low US$ 24,000s climbing to mid-high US$ 24,000s on modern tonnage.

Keeping the ball rolling along, Panamax momentum carries over impressively into the new week with the trans-Atlantic round voyages making up for lost time, it would seem. TARV rates have wasted no time moving from the high US$ 9,000s to the high US$ 10,000s on Kamsarmax tonnage with owners already seeking US$ 12,000 on early July dates. Inter-Atlantic activity has also been building enough to reduce avails and force charterers to accept modest premiums on grain trades between UKC and NCSA.

Supramaxes have entered the final stretch of June with a positive outlook. Freights on all routes have been showing improvement, albeit to varying degrees, with Atlantic demand having climbed to meet Pacific demand in recent days. ECSA front hauls are hitting US$ 12,000 daily on Supramax tonnage. Ultras are fixing US$ 11,000 daily on year-long period TCs within the Far East. Inter-Continent Handysizes have been securing mid US$ 7,000s on 34-38,000 dwt tonnage. A 36,000 dwt open Rio Grande is on subs for a trip to the Continent at about US$ 9,500.

For shipbroking news like this each day, subscribe to the BMTI Daily Report.

Comments are closed.