Ultramax scrap time charter rates are back to about US$ 23-24,000 daily levels. Similar good news has not transpired within the Handysize sector. Surplus tonnage is keeping rates in check and is also carrying the burden of waiting days for the owners. The Mediterranean market remains lacklustre as far as chartering activity is concerned. From the Black Sea (CVB), grain charterers have been seeing US$ 32/mt for 30,000 mt wheat to Algeria. Front haul rates from West Africa are down to around US$ 15-20,000 on Supramaxes. There have been rumours of a 56,000 dwt ship having been re-fixed at a rate of US$ 17,500 daily from West Africa via South Africa and EC India with redelivery Singapore. (For news & updates on dry bulk shipbroking, subscribe to the BMTI Daily Report.)
