Handy Bulk Update (25 November 2020)

handymax bulkerThe chartering market is looking still very promising. Even in the East demand for tonnage is intensifying. Off the Continent Ultra tonnage was bid US$ 24,000 daily for a trip via Baltic to Singapore-Japan range, which the owners turned down being the wrong direction. Handy tonnage of 35,000dwt was talked at US$ 18,500 daily for a trip to West Africa. From the Mediterranean a 30,000dwt was rumoured done from East Med to South Span in the low US$ 9,000 daily. Grain charterers were seeing US$ 21/mt for 25,000mt to Tunisia. Coal charterers quoting 45,000mt to South France at US$ 10/mt, based on a very slow discharge rate. Rates are moving upwards from West Africa where Supra tonnage is fixable at around US$ 21,000 daily for a trip to the East, whilst rates keep inching forward.

ECSA is also generating nice numbers for the owners, with Ultra tonnage rated by charterers at US$15,000 daily for a trip to Continent/Med versus owners’ rate of US$ 18-19,000 daily. Handies are doing very well, with a 37,000dwt fixed at US$ 17,000 daily for 3 months trading with delivery in South Brazil. Another 37,000dwt was bid US$ 13,000 daily for a trip from Plate to North Brazil. To cover a trip from Plate to Yemen can cost charterers dearly – roughly US$ 12,500-13,500 daily on a 31,000dwt ex West Africa.

Good news for the owners is also reported from the US Gulf where 34,000dwt was bid US$ 15,500 daily for a trip from EC Mexico via Mississippi River back to East Coast Mexico. A couple of orders have been quoted from South Africa without yet seeing numbers exchanged. But from Red Sea fertilizer charterers were aghast at the US$ 11,000 daily they were seeing on tonnage of 35,000dwt with dely WC India.

The East is getting short of early Handysize vessels. The owner of a 35,000dwt – after rejecting US$ 7,000 daily for a trip from EC India to China, which he thought should be worth US$ 8,500 daily, found a taker after all at this level for an Australian r/v .Ultra owners were seeing US$ 11,500 daily from CJK to India

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