The downtrend continues on large-tonnage market of the Black and Mediterranean Seas. Besides compliance with the overall negative Atlantic trend, the regional market itself is also showing a further activity slowdown and growing list of open vessels across the Mediterranean area (more than 110 ships of 20-65k dwt are open for Nov laycans):
Most charterers already insist on $14-15k daily for 30-33k dwt Handy carriers bss dely passing Canakkale via BlSea redel Med, while owners are still seeking to get at least $17k daily;
Charterers are ready to pay at best $19-20k daily for 32k dwt vessels to do inter-Med trips via Russia;
Given the almost complete absence of firm offers within the Ukrainian export corridor, it is difficult to make any freight curves, but most brokers suggest $25-28k daily bss dely Marmara for inter-Med trips via Ukraine;
The deal for a Handysize vessel bss dely EMed redel ECSA is discussed at $15-16k daily;
Supramax owners are still seeking to get $23-24k daily for front-haul trips bss dely passing Canakkale, although most charterers already offer mere $20-21k daily (some of them even target below $20k daily).
Grains ex Romania and Bulgaria, as well as some minerals and fertilizers from the Mediterranean ports, remain the only driver for owners searching voyage biz. Grain traffic from Ukraine still looks very limited, while clinker and steel exports keep slowing down:
Charterers offer low $60s/t for shipment of 25,000 t of wheat from Odesa to Tunisia with 8,000x/2,250x l/d rates and 10 days of waiting times on owner’s acct (equivalent to $25k daily bss dely psg Canakkale);
Brokers suggest low $50s/t for transportation of 25-30,000 t of corn from Ukraine to SpanMed bss 1/1 given AWRP (EWRI) and 8-10 days of waiting times on owner’s acct;
Also, charterers are ready to pay around $115/t for shipment of 30,000 t of meal (sf 56`) from Ukraine to China, which corresponds to $100/t bss 35,000 t of heavy grains and is equivalent to $32-34k daily bss dely psg Canakkale (given AWRP and 8-10 days of waiting times on owner’s acct);
Charterers are ready to pay at best $31/t for transportation of 25-30,000 t of grain from Romania to ARAG ports bss 1/1 given 7,000 sshex l/d rates and early Dec laycans (equivalent to $16-17k daily bss dely psg Canakkale);
The deal for shipment of 25,000 t of wheat from Varna to Tunisia given Nov 16-21 laycans and 7,000x/2,250x l/d rates is discussed at $32.5-33.5/t, which is equivalent to $16.5-17.5k daily bss dely psg Canakkale;
Also, traders are ready to pay $34/t for transportation of 25-28,000 t of wheat from Romania or Bulgaria to Algeria with 7,000x/2,500x l/d rates and early Dec laycans (equivalent to quite strong $18-18.5k daily bss dely psg Canakkale);
A couple of deals for shipments of 30,000 t of wheat from Novorossiysk or Taman to EMed are negotiated at very low $30s/t given 8,000x/5,000x l/d rates;
As for larger stems, brokers suggest $48/t for transportation of 50,000 t of corn from Romania to S.China bss 1/1.
As for other cargoes:
Charterers offer $23/t for shipment of 20,000 t of steel billets from Djen Djen to Damietta with 4,000 sshex bends l/d rates and Nov 20-30 laycans, which is equivalent to $11-12k daily bss DOP dely Algeria;
Transportation of 15-25,000 t of pumice from Yali Island to Ashdod is discussed at $18-19/t given 11 ttl days shex l/d rates;
Charterers offer $17/t for shipment of 25,000 t of phosrock from Egypt to Bulgaria given 4,000x/3,000x l/d rates and Nov 15-20 laycans;
Carrying 20,000 t of urea from Arzew to Cork + Ghent is estimated by ISM at low-mid $30s/t bss 1/2 given 7,000x/2,500x + 4,000x l/d rates and Nov 14-20 laycans.
In the small tonnage sector:
Charterers are ready to pay very strong $43-44/t for transportation of 15,000 t of barley (sf 55`) from Constanta to Libya with 4,500x/2,000x l/d rates (equivalent to almost $19k daily bss dely psg Canakkale or to $13-14k daily bss RV);
Meanwhile, other charterers target mere $30/t for shipment of 14-15,000 t of wheat from Varna to SpanMed with 5,000 sshex bends l/d rates and late Nov laycans (equivalent to $11-12k daily bss dely psg Canakkale or to mere $6k daily bss RV);
The contract for transportation of 15,000 t of alumina from San Nicolas to Constanta is negotiated at mid-$20s/t given 6,000x/3,000x l/d rates and spot laycans;
Charterers offer 68/t for shipment of 16-17,000 t of coal from Poti to Poland given 2500x/4000x l/d rates and spot laycans, which is equivalent to quite strong $18-18.5k daily bss dely psg Canakkale;
Charterers are ready to pay $17.5/t for shipment of 15-18,000 t of clinker from Oran to Gaeta.