Far East Handy Bulk: Week in Review (09 Apr 2018)

Far East SupramaxesLosses have been rather substantial in the eastern Handy bulk trades in the past week as the monthly switchover and widespread holidays gave charterers all the excuse they needed to get rates reduced to­ward their preferences. In the event, Supra NoPac rounds lost US$ 500 week-on-week to settle in the lower US$ 11,000s after trading high US$ 11,000s just a week earlier. Indonesia rounds, meanwhile, shed some US$ 300-500 over the week, putting the South China delivery and redelivery round in the high US$ 10,000s of about US$ 10,750 daily on tonnage of 58,000 dwt. Period chartering has been done, though intermittently, with short periods of six months getting US$ 13,000 daily on Handymax tonnage of 54-56,000 dwt from Southeast Asia.

Nickel ore business has remained fairly steady with 28,000 dwt ships getting up to US$ 12,000 daily on Indo rounds from CJK to China, brokers report. Grain rounds via NoPac have been securing around US$ 10,500-10,750 daily on ships of 38-42,000 dwt, we are told, with CJK delivery in mid-April. Handysize rates have had a bearish week, but not as harsh as among the Supras, with some US$ 100-150 down on average rates week-on-week, leaving No­Pac rounds at about US$ 9,250 daily on 36,000 dwt.

Need current and exclusive dry cargo shipping updates? Subscribe to the BMTI Daily Report today.

Comments are closed.