Supramax/Utramax TCT rates continue to slide down in the Indian ocean. The offer of cargoes remains limited in almost all areas of the basin, which together with a long tonnage list allows charterers to push rates down freely. Owners of fleet open ECI keep repositioning vessels to livelier SE Asian region, and refrain from ballasting towards SAfr given the continuing rate decline on that market and ongoing surge of bunker prices. Thus, corresponding TCT rates are as follows:
Brokers suggest high $20s k daily for a large Supramax carrier bss DOP PG redel ECI-Bangladesh area (around $2-3k daily down from last week);
Reportedly, a Supramax ship has been chartered at $26.5k daily bss dely WCI via PG redel Bangladesh;
As for trips ex ECI, brokers are voicing high $10s k daily for Supramax fleet bss DOP ECI redel China.
With regard to the SAfr market, players still report limited number of fresh cargo offers ex regional ports with June laycans, and owners have no other choice but to lower ideas:
Supramax TCT deals bss APS SAfr redel Far East are discussed at $24.5k daily + 450k bb ($0.5k daily down from last week).
On the voyage basis, the contract for transportation of 55,000 t of iron ore from Saldanha Bay to the Far East has been signed at $45/t with June 19-23 laycans (equivalent to slightly less than $25k daily bss DOP Mozambique);
The deal for shipment of 53,000 t of manganese ore from Port Elizabeth to ECI has been concluded at $48/t with June 17-24 laycans;
Transportation of 50,000 t of limestone from the UAE to ECI may cost $23/t ($0.75/t down from last week);
Carrying 50,000 t of iron ore from Vizag to Tianjin is estimated by ISM at $26.25/t with 8,000c/12,000c l/d rates ($0.25/t down from last week);
Shipment of 50,000 t of coal from RBCT to Pakistan may cost $29.5/t ($4.75/t down from last done level).
The Handysize market picture also stays negative, with only some new rice requests coming ex ECI ports. However, owners refrain from calling relevant ports amid monsoons in that area:
Reportedly, owners of a 28k dwt ship are seeking to get $19k daily bss dely WCI via PG redel WCI;
On the voyage basis, owners want to get $123/t for transportation of 20-30,000 t of steel products from ECI to Klaipeda with 4,000x/4,000x l/d rates and June-July laycans;
Charterers bid at low $80s/t for shipment of 20-25,000 t of bagged rice from Kandla to Port Sudan with 1,500/1,500 l/d rates.
