The market of the Black and Mediterranean Seas is looking a bit healthier this week mostly due to brisker shipments of steels and construction cargoes towards the USA. With moderate list of vessels open in the area, Supra owners manage to stabilize rates after a prolonged decline, while Handy owners are able to get even slightly higher rates. Note that there are slightly more than 30 carriers of 23-38k dwt open for late Jun - 1H Jul; players also note a similar number of Handymax/Supramax vessels. At the moment:
A couple of inter-Med deals for 30-33k dwt fleet bss dely passing Canakkale via BlSea are negotiated at $16.5-17.5k daily, while slightly larger vessels can get around $18k daily;
A 34k dwt carrier has been fixed at $17.5k daily bss dely passing Canakkale via Marmara redel Adriatic redel passing Otranto;
A 32k dwt ship has been chartered at 15k daily for a scrap run bss dely DOP Algeria via FOS redel Turkey;
As for larger tonnage, a 57k dwt vessel has been chartered at $20k daily for a slag run bss DOP dely Marmara redel WMed;
Meanwhile, the deal for a 58k dwt carrier bss DOP dely Marmara redel EgyptMed has been signed at mere $14.5k daily.
As for other routes:
Charterers are ready to pay $17k daily for an up to 30k dwt ship bss DOP dely Aegean via Turkey redel USEC;
A vessel of 34-35k dwt has been fixed at $19k daily bss dely Aegean redel Caribs;
A 35k dwt carrier has been chartered at 20.5k daily for a fertilizers run bss DOP dely BlSea redel WCSA;
The contract for an about 32k dwt ship bss dely N.Spain via Turkey redel USG has been concluded at $14.5k daily, which corresponds to $21-21.5k daily bss dely Aegean;
Meanwhile, the ECSA destination is rated much lower compared to the USG: the deal for a 33-34k dwt vessel bss dely Morocco redel ECSA has been signed at mere $12.75k daily;
Front-haul deals for large Handysize fleet bss dely passing Canakkale are discussed at $20-21k daily, those for Supramax vessels within $20-22k daily;
A small 52-53k dwt Supramax carrier has been chartered at mere $17.5k daily bss DOP dely Marmara via Port Said redel WAfr, while even a 38k dwt Handy ship has succeeded to get a much stronger $22k daily for a steel run bss DOP dely TBS redel Dakar;
However, owners of a large modern Ultramax vessel of 64k dwt have managed to get almost $27k daily for another clinker run bss DOP dely Iskenderun redel WAfr.
As for voyage-basis rates:
The deal for shipment of 30-32,000 t of urea from Damietta to Itaguai has been signed at mid-$40s/t, which is equivalent to $18.5-19k daily bss DOP dely EMed;
Brokers suggest around $17/t for transportation of 27-30,000 t of clay from Diliskelesi to Castellon with quick shinc l/d rates;
Carrying 30-35,000 t of steels or bagged cement from Turkey to USEC is estimated by ISM at low $40s/t bss 1/1;
Charterers are ready to pay around $30/t for shipment of 45-50,000 t of clinker from Turkey to Ghana bss free DA in discharge port, while owners want to get low-mid $30s/t.
In small Handy sector:
About 17-18,000 t of urea are carried from Batumi to Ceyhan at low $30s/t given 6000c/7500x l/d rates (equivalent to $16-17k daily bss dely psg Canakkale);
The deal for 15-16,000 t of urea from Arzew to Ravenna has been fixed at mid $30s/t given 7000x/3500xm which is equivalent to quite strong $12.5k bss RV;
Up to 16,000 t of linseeds (sf 52-53`) are carried from Marmara to Ghent at low $50s/t;
Charterers are ready to pay mid $30s/t bss FILO for shipment of 15,000 t of billets from Nemrut to Casablanca, which is equivalent to around $12k daily bss dely Aegean.
Apart from regular shipments of minerals, fertilizers and construction cargoes from Turkey and WMed, owners are still getting support from grain traffic ex Romania and Bulgaria:
The deal for shipment of 25-30,000 t of wheat from Constanta to Mersin with 6,000x/5,000x l/d rates and early July laycans has been signed at $25/t, which is equivalent to $18.5k daily bss dely psg Canakkale;
Another contract for transportation of 28-29,000 t of corn from Constanta to Alexandria has been concluded at $24/t given 5,000 sshex bends l/d rates and early July laycans;
Up to 25,000 t of wheat are are carried from Varna to Tunisia at mid-$30s/t, which is equivalent to $19.5k daily bss dely psg Canakkale;
A 33,000 t lot of corn has been fixed from Constanta to SpanMed at about $22.5/t with 8,000 sshex bends l/d rates and 1H July laycans bss 1/1;
Some 30,000 t of wheat are shipped from Novorossiysk to EMed at mid-$30s/t given 7,000x/5,000x l/d rates;
Transportation of 50-55,000 t of wheat from Constanta to Indonesia is quoted at very high $40s/t bss 1/1.
Note that market players start negotiating shipments of new crop grains. Traders are ready to pay $1.5-2.5/t more for shipments in 2H July - 1H Aug, which means extra $2-2.5k daily in TCE.
