South African sector keeps driving Supramax/Ultramax market in Indian Ocean

The Indian Ocean Supramax/Ultramax market has firmed up a bit thanks to lively manganese ore shipments from South Africa and thin local tonnage list for May laycans, coupled with limited vessel availability off ECI (although current iron ore traffic is still scarce).

Regarding shipments from the R.Sea/PG/WCI region:

• The deal for an Ultramax vessel bss dely Dammam via Jubail/COGH redel Morocco has been signed at $14k daily bss 50 days and at $16k daily thereafter;
• A Supramax carrier has been chartered at $13.6k daily bss dely PG redel WCI;
• Owners of a similar ship are seeking to get $14.5k daily bss dely PG redel FEast;
• The deal for transportation of a Supramax lot of ore from Oman to WCI with mid-May laycans has been signed at low-$7s/t bss free DA (equivalent to as much as $20k daily bss dely Fujairah);
• Transportation of a Supramax lot of limestone from Mina Saqr to Paradip with 15000c/10000c l/d rates is estimated by ISM at $11-12/t.

In ECI:

• Owners have managed to get $18k daily bss dely Chittagong via ECI redel WCI.

As for the S.African market:

• An Ultramax vessel has been fixed at $20k daily + $200k bb bss dely Port Elizabeth redel China;
• A similar carrier has been chartered at $20k daily + $200k bb bss dely Saldanha Bay redel China.

In the Handysize sector:

• Charterers are bidding at $8.5k daily for a Handysize ship bss dely PG redel FEast;
• Owners of a similar vessel are seeking to get $10k daily bss dely WCI redel FEast;
• Transportation of a large Handysize lot of salt from WCI to China is estimated by ISM at $20/t;
• Charterers target $24/t for shipment of kaolin clay in bulk from Kandla to Ravenna with mid-May laycans and 12000c/6000c l/d rates (equivalent to $14k daily bss dely Kandla via Suez redel Ravenna).