Handysize rates climbing up in Black Sea

Despite still very limited cargo flow in the Black and Mediterranean Seas and excessive number of open vessels, Handysize owners are successfully pushing rates up. Stronger Atlantic market and higher Panamax rates seem to be the only logic explanation of better sentiment in the region.

• Inter-Med deals for standard 30-32k dwt fleet bss dely passing Canakkale via CVB are discussed at $8-9k daily;
• Owners of a small 25-26k dwt vessel are seeking to get at least $10.5k daily bss APS dely Constanta redel EMed;
• Charterers offer $11-12k daily for a large Handysize carrier bss dely EMed redel WAfr, while owners are seeking to get at least $14k daily;
• The deal for a 33-34k dwt ship bss dely passing Canakkale via Ukraine redel Med is negotiated at $12.5-13k daily.

Brokers report still limited grain offer from Ukraine and Russia, with only slightly brisker shipments from EU ports:

• Thus, charterers are ready to pay $33/t for shipment of 25,000 t of wheat from Odesa to the Marmara Sea with 5,000x/4,500x l/d rates, 15 days of waiting time and EWRI on owner’s acct (equivalent to $10.5-11k daily bss dely psg Canakkale);
• The deal for transportation of 25,000 t of barley (sf 52`) from Constanta to Iskenderun with 10,000c/4,500x l/d rates and March 10-15 laycans is discussed at $14.5-15/t (equivalent to $8.5-9k daily bss dely psg Canakkale);
• Brokers suggest $15-15.5/t for transportation of 25-30,000 t of corn from Constanta to Alexandria with 7,000x/5,000x l/d rates and spot laycans, which is equivalent to $8-9k daily bss dely psg Canakkale;
• The deal for shipment of 22,000 t of sfs (sf 85`) from Romania to Lisbon is negotiated at mid-high $20s/t given 6,000c/5,000x l/d rates and Mar 10-15 laycans;
• 20-25,000 t of corn have been fixed from Ukraine to SpanMed at around $40/t;
• The deal for shipment of 18,000 t of corn from Romania to Italian Adriatic is discussed at $21/t bss 1/1.

As for Russian grains:

• The deal for transportation of 40,000 t of barley from Taman to Iran has been signed at $50/t, which means $23-25k daily bss dely psg Canakkale for vessels with EWRI required;
• Charterers are ready to pay $18/t for shipment of 30,000 t of wheat from Novorossiysk to Egypt, although some traders offer mere $15-16/t with no interest from owners accordingly.

Exports of other cargoes remain sporadic:

• Brokers suggest high $40s/t for shipment of 20,000 t of fertilizers from Morocco to WC India given 6,000x/3,000x l/d rates and March 9-13 laycans;
• Carrying 30-35,000 t of salt from Egypt to the Mississippi river with quick l/d rates is estimated by ISM at high $20s/t bss 1/1.