Far East Handy Bulk Review (14 Aug 2023)

Freights were generally improved over the past week among the Far East Supramaxes, holidays in Singa­pore and spotty activity notwithstanding, as average rates seem to have picked up around US$ 300-500 week-on-week (basis NoPac RV with tonnage of 58,000 dwt). Indeed, the inter-Pacific round voyage freights rose steadily from the middle US$ 6,000s to nearly US$ 7,000 daily over the course of the week with Indo rounds closing above US$ 8,500 daily. Handysize rates were reported as extremely buoyant on the northbound run with delivery Southeast Asia to NoPac rising by almost US$ 750 week-on-week (basis 38-42,000 dwt) to exceed the US$ 8,000 line.

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