With China still on holidays and Singapore just back from a long weekend, trade is extremely limited on the SE Asian Supramax/Ultramax market and most players took a wait and see stance, which makes it difficult to determine the market direction. Following the pre-holiday rush seen late last week, corresponding TCT rates have added another $1k daily and stabilized afterwards. However, given the low ECI market, players report an inflow of ballasters from the Indian Ocean, which will most likely prevent owners from saving the upper hand when all players return to the market. Thus, TCT rates are looking stable so far, but charterers’ pressure is mounting given currently low pace of trade and growing prompt tonnage list.
As for Indo RVs:
Late last week, the contract for an Ultramax ship bss dely Philippines via Indo redel Thailand was discussed at $36k daily;
Deals for large Supramax fleet bss dely Bangladesh via Indo redel WCI are negotiated at $21-22k daily, those bss redel ECI within $23-24k daily;
Reportedly, a vessel of 56k dwt has been chartered at $21k daily bss dely Chittagong via Indo redel China;
Another contract for a Supramax carrier bss dely Singapore via Indo redel India with May 8 laycan has been signed at $31k daily.
With regard to Aussie RVs, corresponding TCT deals bss dely CJK are negotiated at last done levels thanks to healthy Panamax sector, which is lending support to Supramax/Ultramax owners:
Brokers suggest mid-high $20s k daily for Supramax fleet bss Aussie RV dely CJK;
An Ultramax vessel was fixed and failed subs at $36.5k daily for nickel ore transportation bss dely mid China via New Caledonia redel Far East;
A Supramax carrier was fixed and failed subs at low-mid $20s k daily + 400k bb bss APS N.Aussie redel Far East;
Late last week, the contract for Supramax manganese ore transportation bss dely Vietnam via Aussie redel mid China was discussed at around $25k daily.
As for other routes, the deal for Ultramax transportation of bagged rice bss DOP S.China via Vietnam redel WAfr is negotiated at $34.25k daily.
On the voyage basis, carrying 50,000 t of coal from S.Kali to S.China with 8,000c/12,000c l/d rates is estimated by ISM at $20-21/t;
Transportation of 55,000 t of coal from E.Kali to WCI with 8,000c/10,000c l/d rates is estimated by ISM at $30.5-31/t.
Limited trade and stable rates are reported also in the Handysize segment this week:
Reportedly, a ship of 28k dwt has been fixed on subs at $24.5 k daily for sugar transportation bss DOP Thailand redel S.Korea;
Another vessel of 28k dwt has been fixed on subs at high $22s k daily bss dely Singapore via Indo redel Far East.
As for shipments ex Aussie:
A large Handysize carrier has been fixed on subs at high $20s k daily bss dely Thailand via Aussie redel China;
A 28k dwt ship has been chartered at $24.5k daily for sugar transportation bss dely Thailand via Aussie redel S.Korea;
A vessel of 26k dwt has been fixed at $26k daily bss dely Taiwan via Aussie redel China.
On the voyage basis, the contract for transportation of 35,000 t of coal from Australia to Vietnam has been signed at $48/t;
Carrying 27,500 t of alumina from E.Australia to Lianyungang with 20,000c/12,000c l/d rates is estimated by ISM at $58-58.5/t.
