Far East Handy Bulk Review (13 Dec 2023)

Pressure has been notable on Supramax spot freights over the past week even as trends have not been as uniformly deflationary as in other markets with average inter-Pacific rates losing around US$ 500 week-on-week. Current NoPac rounds for 58,000 dwt ships, for instance, are now trading within the high US$ 10,000s daily range in contrast to the lower US$ 11,000s as seen a week earlier during the most recent course correction. Short period deals on Ultramax vessels are still looking rather robust with 3-5 months being secured in excess of US$ 16,500 daily.

Corrections have been evident within the eastern basin Handy­sizes with Pacific rounds on tonnage of 38-42,000 dwt having moved downward from the upper US$ 9,000s into the lower US$ 9,000s over the past week period. Shipowners do say that they expect to see some firming in demand going into the year-end holiday period.

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