Handysize and Supramax rates sliding down in Baltic & Continent

03.06.2022 17:06

The situation has worsened again on the Handysize shipping market of the Baltic & Continent. So, after last week’s slight recovery of cargo traffic, activity is now declining. The number of new requests has decreased, while the vessel list is growing. This imbalance puts pressure on freight levels. Thus, time-charter rates on key routes have dropped within $1-2.5k daily:
Rates for 35-38k dwt fleet bss dely DOP Continent redel EMed are negotiated at $40k daily;
T/A levels for such vessels are discussed at about $45k daily;
The deal for transportation of scrap by a 29k dwt carrier bss dely DOP Continent redel EMed was negotiated at around $19k daily, but was never signed;
The contract for a Handysize ship bss dely APS N.France redel Angola is negotiated at $22-23k daily;
The deal for an about 38k dwt ship (open-boxed with good specs) bss dely Continent redel EC Mexico has been signed at $24k daily;
Handysize rates bss dely Skaw redel Mississippi River are discussed at $18k daily;
F/H deals for 35-38k dwt vessels are negotiated at around $20k daily;
Carrying 30,000 t of grain from Rouen to Morocco is quoted by brokers at $25/t.

The regional Supramax segment remains inactive, with tonnage oversupply. Relevant rates are under pressure:
Deals for Supramax fleet bss dely APS Continent redel EMed are already negotiated at $22-23k daily, although some owners are still hoping to get mid-$20k daily;
The contract for Ultramax transportation of fertilizers from Norway to China is discussed at a voy-bss rate equivalent to about $20k daily bss dely DOP Continent.
Supramax rates bss dely Continent redel USG\USEC are discussed at $17-18k daily.