The Supramax/Ultramax market has got softer in the Far East. With slower steel traffic ex regional ports (which has been the key market driver lately) and this week’s strong bearish sentiment in the neighboring SE Asia, charterers’ upper hand is mounting day by day and owners have no other choice but to lower ideas. Thus, corresponding TCT deals are already discussed $2-4k daily below last done levels and rates keep sliding down:
An Ultramax vessel was fixed and failed subs at $36k daily for steel/general cargo transportation bss DOP S.Korea redel WC Mexico;
Another Ultramax carrier was fixed and failed subs at $29k daily for general cargo shipment bss dely N.China redel ECSA;
A 52k dwt ship has been chartered at $31k daily for general cargo transportation bss DOP CJK redel Bangladesh;
Reportedly, charters pay mere low-mid-$30s k daily for an Ultramax steel shipment bss dely Far East redel Med;
On the voyage basis, transportation of 55,000 t of coal from Vanino to Shanghai is quoted by ISM at $23.5-24/t with 12,000c/12,000c l/d rates;
Carrying 45,000 t of urea from N.China to Tuticorin with 5,000c/10,000x l/d rates is estimated by ISM at $42-43/t.
Meanwhile, despite the general downtrend, Supramax/Ultramax TCT rates bss NOPAC RV are looking stable as players report healthy offer of petcoke, grains and fertilizers ex PNW ports, which allows owners to stand their ground:
Thus, brokers still suggest $31k daily for Supramax NOPAC RVs bss dely CJK;
Carrying 50,000 t of grains from Vancouver to Taiwan with 10,000x/6,000x l/d rates is quoted by ISM at $66-67/t.
The Handysize segment has also got under pressure, with reduced offer of steel cargoes ex CJK ports and increased tonnage list in the region:
Reportedly, a 35k dwt ship has been chartered at $26k daily for cement transportation bss DOP Japan redel Singapore;
A 31k dwt vessel has been fixed on subs at $24k daily for the first 30 days bss dely CJK via China redel Aussie and at $28k daily thereafter;
Another standard Handysize carrier has been chartered at $30k daily bss dely S.China redel India;
On the voyage basis, shipment of 30,000 t of bulk DAP from Zhenjiang to Karachi with 10,000c/4,500x l/d rates is quoted by ISM at $56/t;
Transportation of 30,000 t of coal from Vanino to Shanghai with 10,000c/10,000c l/d rates is estimated by ISM at $32-33/t.
