Handy Bulk Market Update (18 October 2019)

The chartering market seems to be in gradual decline, whilst numbers are still satisfactory for the owners to cash in. Kamsarmax tonnage has been traded from Black Sea for a Red Sea r/v at close to US$ 16,000 daily. To cover a cargo from Venezuela charterers were ready to pay US$ 15,000 daily with delivery India via Venezuela to Singapore/Japan, but dropped the ideas because of uncertainty over eventual sanctions.

Off the Continent Ultra tonnage has been traded at US$ 15,500-16,000 daily for 2 laden legs with redelevery Atlantic. Another Ultra was shown US$ 27,000 daily from the Continent via Baltic to India. Ultra tonnage is likely to find takers at around US$ 13,500-14,000 daily for a trip to ECSA, whilst to US Gulf the rate is lower at around US$ 12,000 daily, but why?

A 28,000dwt tonnage has been rumoured done at US$ 10,000 daily for a trip from ECUK via the Baltic to the East Med. Voyage rates exchanged for 30,000mt coke from the Baltic to North Spain equate to around US$12,000 daily on Supramax tonnage open on the Continent.

From Black Sea/East Med Supra tonnage is said to hold at around US$ 17,000 daily for a trip to West Africa. Handysize tonnage appears stable as well with 34,000dwt tonnage bid US$ 11,000 daily for a trip to the Continent or US$ 13,500 daily for a trip to the East Med, which looks a bit softer. An interesting fixture from Sea of Marmara to Quebec has been rumoured concluded on a 31,000 dwt – Laker – ballasting from Gibraltar at the daily equivalent of around US$ 9,000 daily basis Gibraltar or around US$ 12,000 daily basis Marmara.

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