Handy Bulk Market Overview (20 Feb 2020)

The chartering market in the Atlantic is slowly mov­ing forward. Ultramax owners have been demanding US$ 17,000 daily for a trip from the Baltic to South Africa. Handysize tonnage has been fixed for local trading at around US$ 9-10,000 daily depending on delivery. Olive and sand charterers booked at Han­dysize vessel able load around 30,000mt from Nor­way to Ghent at the daily equivalent of around US$ 11,000 daily. The vessel was getting ready in the port of loading, hence this average rate. A 30,000 coal parcel has been fixed from UK to ARAG aver­aging around US$ 9,500 daily with vessel open on the Continent. A couple of cargoes have also been fixed from Murmansk incl. 20,000mt to Klaipeda at around US$ 17/mt and around 40,000mt fertilizers to the Mississippi River in the low US$ 20s/mt. From the Black Sea, front haul activity has been very limited. The Handy market is not really progressing. Handysize grain charterers still have a good choice of tonnage, whilst admitting that the worst seems over. Fertilizers of 32,000mt from Tuapse to Tema have been rumoured traded at around US$ 22-23/mt.

The tonnage list in the USG is getting shorter. Ton­nage of 38,000 dwt was bid US$ 7,500 daily for a trip from the Mississippi River to EC Mexico with owners talking US$ 10,000 daily. The ECSA is up but not as much as one would have expected. Ultra have been rating US$ 10,500-11,000 daily for trips to the Med-Continent whilst ending up concluding at even below US$ 9,000 for a trip to the Continent.

Any Ultramax front haul trip is almost non-existent, whilst charterers are talking US$ 12,000 daily plus US$ 200,000 BB, whilst owners want US$ 13,500 daily plus US$ 350,000 BB. A 32,000 dwt ship bal­lasting from South Africa has been taken APS Brazil at US$ 8,000 daily for a trip to the Med. From West Africa, ore charterers are struggling to repeat last-done of US$ 36/mt for 40,000mt to China. A rate of US$ 35/mt for a similar size cargo to India has been turned down by charterers as being too expensive. Brokers say that Supramax tonnage would be fixable to the Black Sea at rates of around US$ 3,000 daily.

From South Africa, tonnage of 32,000 dwt is being rated at US$ 3,000 daily for a trip to the Med by charterers. Owners have decided to continue ballast­ing towards Brazil, their home turf. In the frosty Far East, Australian charterers were rating 33,000 dwt US$ 2,500 daily basis APS plus a bonus of US$ 40-50,000. Due to limited supply of tonnage on the PG rates are rising in the area. Owners report on charter­ers raising their ideas by US$ 1,500 daily overnight. And the low US$ 5,000 daily on 38,000 dwt for a trip to the US Gulf is reflecting the new trend. US$ 6,000 daily on a 34,000 dwt vessel for a trip from PG to China is unlikely to be repeatable now. From Vancouver, fertilizer charterers were seeing Ultra­max tonnage at US$ 250 daily for a trip to Brazil.

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

Comments are closed.