Far East Resurgence Seen in Indonesia Rounds (18 Feb 2019)

bulk carrierAn upsurge in activity across the eastern basin has done wonders for the long-beleaguered Supramax markets with average rates for rounds up by at least US$ 500 week-on-week and, in some cases, nearly US$ 1,000 higher than a week ago. Standard rounds are trading in the US$ 6-7,000s daily on tonnage of 58,000 dwt. Indonesia rounds have been especially improved with a massive US$ 2,000 week-on-week improvement in average rates from South China to ECI, climbing into the US$ 6,000s by week’s end. Handysize markets have been comparatively more subdued than their high-flying Supramax brethren, although eastern trends have been favourable to the smaller sized segment as well. Pacific rounds via Singapore-Japan from CJK edged up into the US$ 4,000s after spending the past week in the high US$ 3,000s. Southeast Asia has been especially buoyant with tonnage of 28,000 dwt getting over US$ 6,000 daily with sugar from Thailand to Indonesia (though standard cargoes are more likely to fetch US$ 5,000s on this run). Tonnage of 38,000 dwt is securing high US$ 5,000s daily on NoPac trips to South Korea.

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