Supramax/Ultramax TCT rates continue to slide down in SE Asia. However, the pace of decline has slowed down this week as players report more coal requests both on the Indo-India and Indo-China routes. There are still no signs of any rate flattening given a long list of open tonnage, which puts considerable pressure on the market. Thus, charterers have managed to lower TCT rates by another $1-2k daily; corresponding deals are discussed at following levels:
As for the Chinese direction, a Supramax ship has been chartered at $25k daily bss dely Singapore via Indo redel China;
A small Supramax vessel has been fixed on subs at mid-$20s k daily bss dely Singapore via Indo redel SE Asia;
A 57k dwt carrier has been chartered at $26.5k daily for nickel ore transportation bss dely mid-China via Philippines redel China with June 10-11 laycans;
A 56k dwt ship has been fixed at $28k daily for transportation of tapioca chips bss DOP Thailand redel CJK;
With regard to the Indian direction, a vessel of 66k dwt has been chartered at $36.5k daily bss dely Philippines via Indo redel WCI;
Another Ultramax carrier has been fixed at $27.75k daily for coal transportation bss dely Bangladesh via Indo redel WCI;
A 57k dwt ship has been fixed on subs at $21k daily for coal transportation bss dely ECI-Sri Lanka range via Indo redel WCI and at $24k daily in case of redel ECI;
As for other routes, an Ultramax vessel has been fixed on subs at $36k daily bss DOP Singapore redel Continent.
On the voyage basis, the contract for transportation of 55,000 t of coal from N.Kali to ECI has been signed at $26/t with June 13-16 laycans (equivalent to $32-33k daily bss dely Philippines);
Another deal for shipment of 55,000 t of coal from East Tanjung-Jabung (Indonesia) to WCI has been concluded at $20/t with mid-June laycans (bss free D/A in discharge port);
Transportation of 50,000 t of coal from E.Kali to S.China is discussed at $18/t with June 15-19 laycans;
Another contract for shipment of 50,000 t of coal from E.Kali to mid China has been concluded at $18.25/t with June 15-20 laycans;
The deal for transportation of 45,000 t of coal from S.Kali to Yangtze River Ports has been signed at $24/t with June 18-22 laycans (equivalent to $21-22k daily bss dely Singapore);
Carrying 55,000 t of barley from Kwinana to S.China with 10,000x/8,000x l/d rates is quoted by ISM at $45/t.
The Handysize market also stays under pressure, with limited cargo traffic ex Australia and a long list of tonnage in the region:
Reportedly, a 37k dwt vessel has been fixed at $24.5k daily bss Aussie RV dely S.China;
A 33k dwt carrier has been chartered at $21k daily bss dely Vietnam via Indo redel China;
A 28k dwt ship has been chartered at $22.7k daily for concentrates transportation bss dely Taiwan via Indo redel Japan;
A vessel of 20k dwt has been fixed at $15k daily for coal transportation bss dely Kampot via Indo redel N.China;
On the voyage basis, shipment of 27,500 t of alumina from E.Australia to Lianyungang with 20,000c/12,000c l/d rates is estimated by ISM at $70-71/t (in line with last week amid another surge in bunker prices).
