The Indian Ocean Supramax/Utramax market sentiment has split in two directions. Thus, despite increased offer of fertilizers ex Persian Gulf ports, owners of vessels open in the PG/WCI area continue to make concessions to charterers given long tonnage list along the Indian west coast. The offer of cargoes from ECI also stays limited as the iron ore ban is still in force and operators continue to reposition carriers to a brisker SE Asian region. Meanwhile, players report positive shifts and increased rates on the South African market, where owners successfully insist on their ideas given increased cargo book for late June – early July laycans. Corresponding TCT rates are as follows:
Supramax vessels are getting fixed at $26-27k daily bss DOP PG redel Bangladesh (around $2k daily down from last week);
A Supramax carrier has been chartered at mid-$20s k daily bss dely WCI via PG redel WCI;
Reportedly, owners of a 53k dwt ship have managed to get mere $20k daily bss DOP WCI redel Chittagong;
As for ECI, a 55k dwt vessel has been fixed at $22k daily bss dely Haldia via ECI redel WCI;
A 57k dwt carrier has been chartered at $20k daily bss dely ECI redel China;
With regard to South Africa, brokers report the level of $26k daily + 600k bb for Ultramax fleet bss APS SAfr redel Far East (around $0.5k daily up from last week);
Ultramax TCT rates bss APS SAFr redel Continent are voiced by brokers at $42k daily;
Reportedly, a 64k dwt vessel has been fixed at $27.5k daily bss dely WAfr via Port Elizabeth redel Far East.
On the voyage basis, owners are seeking to get mid-high $40s/t for transportation of 53-55,000 t of manganese ore from Port Elizabeth to Bohai Bay in China with July 1-8 laycans;
The contract for shipment of 50,000 t of dolomite from Oman to WCI has been signed at $15.5/t with June 17-21 laycans (equivalent to $25k daily bss dely WCI);
Transportation of 50,000 t of limestone from the UAE to ECI may cost $22.75/t ($0.25/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 $30.25/t ($0.75/t up from last done level).
Meanwhile, the Handysize segment is looking stable in the Indian ocean. Owners have managed to avoid further rate cuts amid increased steel traffic ex ECI and some fresh cargo requests ex the Persian Gulf. Corresponding TCT rates are as follows:
A 38k dwt ship was fixed and failed subs at $37k daily bss dely ECI redel Continent-Med;
A 32k dwt vessel has been chartered at $30k daily for granite transportation bss DOP Vizag redel S.China;
Another carrier of 32k dwt has been fixed at $19.5k daily bss dely WCI via Oman redel India;
A 30k dwt ship has been chartered at $20k daily bss dely PG redel Pakistan;
The contract for an overaged 28k dwt vessel bss dely WCI redel PG has been signed at $19k daily;
On the voyage basis, the deal for transportation of 38,000 t of coal from Mozambique to ECI has been signed at $43.75/t with June 28 – July 3 laycans (equivalent to $26k daily bss dely India).