Handy Bulk Market Update (2 Feb 2021)

The chartering market has been quiet all over the place, which is also reflected in the number of fix­tures reported. Off the Continent, an LME was fixed for a Murmansk round voyage at US$ 19,000 daily with redelivery ARA. Grain charterers took a 33,000 dwt North Spain for a trip via Rouen to Algeria at US$ 16,000 daily, which equates to around US$ 25-26/mt. There are charterers hoping to find tonnage at US$ 22.0-22.5/mt later this month, and which at this very moment this seems to be more of a pious hope than reality. Rostock to Casablanca business has been secured for 30,000mt at the equivalent of US$ 15,000 daily basis Rotterdam. As far as Supra-Ultras are concerned brokers have been seeing a limi­ted number ships with any prospects of better rates.

Also from the Black Sea, strong numbers have been accomplished by owners. Scrap charterers have taken a 32,000 dwt vessel from the East Mediterranean via the Black Sea to Morocco at US$ 15,250 daily. For trips to the US Gulf, a rate of US$ 15,000 daily for a good quality 35,000 dwt vessel is not a problem to achieve. Chinese charterers have been busy looking for a 33-38,000 dwt Handysize vessel to take from the North-West Africa range to China, for which trip brokers expect a rate beyond US$ 20,000 daily.

Ore charterers have been targeting a freight level of US$ 33/mt for a 46,000mt cargo from West Africa to EC India, which looks optimistic. From South Africa, a 63,000 dwt failed at US$ 14,250 daily plus US$ 425,000 BB for a front haul trip to China to be re-fixed by other charterers at the same numbers. The East still looks very perky, although brokers be­lieve this week to be slower with charterers trying to restrain themselves in their approach to the owners.

Rates are healthy anyway. CIS charterers were rating a 58,000dwt vessel from CJK via CIS to the Xiamen-Hong Kong area at US$ 9,800 daily. The owners were also offered a freight of US$ 9,000 daily for an Australian round voyage. Some owners very reluc­tant to go for long or even short period. A very nice modern 38,000 dwt was rates by charterers at US$ 11,500 daily for 3-5 months of trading. The owner would rather do 90 days at US$ 12,500 daily. Ultra­max owners would be pleased to find back haul busi­ness at US$ 6,500 daily. The vessel is open in China.

Owners with tonnage open at WCSA (Vancouver range) do not seem to have reason to grumble. Own­ers of a 38,000 dwt open in Vancouver see no prob­lems to fix her back to the Atlantic far beyond US$ 10,000 daily. Owners of 32,000 dwt coming open Guyaquil were offered US$ 8,500 daily to the Conti­nent versus their number of US$ 10,000 daily.

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