Handy Bulk Update (04 December 2020)

May be at long last that market conditions for the first quarter of the new year will hardly differ from the last days of the old year. These are the prospects expressed by several market players. In any case sentiment is up bolstering optimistic views. Few newbuildings are unlikely to spoil the broth. And as a result the interest in period tonnage is remarkable, although long term deals are still a rarity. This may have to do with the dreadful past and charterers rather shun from long commitments.

Off the Continent Ultra owners declined US$ 13,500 daily for 3-5 months trading and invited charterers to consider US$ 15,500 daily. The charterers didn’t. They failed on a 58,000 dwt at US$ 13,500 daily instead. A Baltic round has been concluded at US$ 22,000 daily on an Ultra. Handies are still doing well with rates agreed for 38-40,000dwt tonnage in the region of US$ 18,500 daily for a trip to the East Med. Also grain charterers need to have deep pockets to cover Rouen to Algeria cargoes.

From the US Gulf petcoke charterers took a 58,000dwt at US$ 23,000 daily to China and 38,000dwt was fixed to Continent/Med at US$ 19,000 daily. On voyage basis petcoke charterers were seeing US$ 38/mt for or 55 000mt to China. ECSA is vivid for Handies. After last week a 32,000dwt was fixed from ECSA to the US Gulf at US$ 12,000 daily, now a 34,000dwt got US$ 13,500 daily for a similar trip. A 58,000dwt in ballast from West Africa was fixed from Brazil to the Continent at US$ 17,000 daily. Very promising indeed.

South African charterers failed at US$ 8,000 daily on a 39,000dwt from East Africa to the Med, whilst others managed to fix a 28,000dwt from Durban to the East Med at US$ 7,500 daily.

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