With the grain export ban in force and significantly increased duties for iron ore exports from India, Supramax/Ultramax owners are facing difficulties finding employment and are actively ballasting to SE Asia thus intensifying pressure on rates there. Only fresh fertilizer requests are reported in the Persian Gulf, but these volumes are insufficient to provide considerable support to owners given a significant increase in regional vessel list. Note also that amid the monsoon season and slower port operations in India, owners try to get higher rates in case of such redelivery. Corresponding TCT rates are as follows:
Brokers suggest low $30s k daily for Supramax fertilizer transportation bss DOP PG redel Bangladesh (around $4k daily down from last week);
Reportedly, a 63k dwt vessel open spot Kandla has been chartered at $32k daily for limestone transportation bss dely PG redel ECI;
Another Ultramax carrier was fixed and failed subs at high $30s k daily bss dely WCI redel Red Sea;
A 57k dwt ship has been fixed on subs at $30k daily for an urea shipment bss dely PG redel Thailand;
As for the ECI region, a 57k dwt vessel has been chartered at $19.5k daily bss dely Paradip via ECI redel China.
Negative sentiment is reported also on the South African market. Despite still rather limited tonnage list in the area, there are even fewer cargo requests for transportation ex regional ports for prompt dates onwards:
Brokers suggest $25k daily + 500k bb for Ultramax fleet bss APS Richards Bay redel Pakistan;
Reportedly, a 63k dwt carrier has been fixed at $26k daily + 600k bb bss APS SAfr redel Far East with June 8 laycan.
On the voyage basis, the contract for transportation of 55,000 t of manganese ore from two SAfr ports to China is discussed at $52/t with June 15-22 laycans;
Shipment of 50,000 t of limestone from the UAE to ECI may cost high $23s/t;
Carrying 50,000 t of iron ore from Vizag to Tianjin is estimated by ISM at $26-27/t with 8,000c/12,000c l/d rates ($4/t down from last week);
Shipment of 50,000 t of coal from RBCT to Pakistan may cost $34.25/t ($3.5/t down from last done levels).
The Handysize segment has also got under strong pressure amid slower steel and general cargo exports from India after the introduction of new duties for some sorts of steel products. Corresponding TCT rates are as follows:
A 28k dwt vessel was fixed and failed subs at $22k daily bss dely dely PG via WCI redel PG;
Another 28k carrier was fixed and failed subs at low $30s k daily for a steel shipment bss DOP PG redel Med;
A 26k dwt ship has been chartered at $18k daily for coastal salt transportation bss dely WCI;
A 32k dwt vessel has been fixed at $38k daily bss dely ECI redel Continent-Med;
The contract for a 35k dwt carrier bss dely Red Sea redel ECI is negotiated at high $20s k daily;
As for SAfr RVs, a 28k dwt ship open WAfr has been chartered at $36.5k daily for minerals transportation bss APS SAfr redel USG;
A 32k dwt vessel has been fixed at $37k daily bss dely Richards Bay redel Far East;
On the voyage basis, the contract for transportation of 38,000 t of coal from Beira to ECI has been signed at $55.5/t with June 2-7 laycans (equivalent to $33k daily bss DOP ECI).