USG: Rates for Panamax/Kamsarmax trips down on T/A routes
The USG Panamax/Kamsarmax market remains under pressure, with limited cargo offer on T/A routes:
The Kamsarmax time-charter bss TARV is quoted by brokers at $21-22k daily;
The deal for a Kamsarmax ship bss dely Continent via USG redel Continent has been signed at $21.5k daily;
A Panamax vessel has been fixed at $21k daily bss dely Continent via NCSA redel Skaw-Passero;
Contracts for Kamsarmax fleet bss dely Gibraltar via USEC redel Skaw-Passero are negotiated at $22k daily vs. $24k daily;
Shipment of 75,000 t of coal from the USG to ARA ports with spot laycans may cost $24-25/t, which is equivalent to $21-22k daily bss dely Gibraltar;
Transportation of 70,000 t of coal from USEC to Turkey with spot laycans may cost $25-28/t;
The contract for shipment of 75,000 t of coal from USEC to Brazil with spot laycans is discussed at $18-19/t, which is equivalent to $19-21k daily bss APS USEC.
The USG F/H segment is looking more stable due to healthy demand for vessels seeking to do such trips. Nevertheless, falling T/A segment leads to softer sentiment in the region as a whole and impacts USG F/H rates:
The contract for a Kamsarmax ship bss dely Gibraltar via USG redel China is discussed at $35-37k daily;
The deal for a Kamsarmax vessel bss dely Singapore via USG redel China has been signed at $27k daily;
Transportation of 66,000 t of grains from the USG to China (via Neopanamax locks) with spot laycans is negotiated at $77-78/t, which is equivalent to $36-37k daily;
Deals for shipments of 66,000 t of grains from the USG to China in late July are discussed at $80-82/t.