Demand for Handysize spot shipments ex Black Sea totally dead, although owners seek higher rates for July-August trips

Activity remains extremely slow on the large-tonnage market of the Black and Mediterranean Seas, especially for spot dates. Brokers report about 150 vessels of 20-65k dwt open in the area for the upcoming month.

Spot TCT rates remain under pressure:

• A couple of spot inter-Med deals for Handysize fleet are discussed at $5-6k daily bss dely APS CVB;
• A Supramax vessel has been chartered at $7k daily bss dely CVB redel SpanMed;
• Meanwhile, Handy owners are seeking to get closer to $6k daily bss dely passing Canakkale via CVB redel Med for mid-July laycans.

• As for long-hauls, the deal for a 32k dwt carrier bss dely passing Canakkale via Russia redel China has been signed at $10k daily;
• Charterers are ready to pay at best $11.5-12k daily for a Supramax ship bss APS dely CVB redel Spore-Japan;
• Usual Supramax trips towards West Africa are negotiated at $8-9k daily bss dely APS EMed.

Spot voyage-basis rates remain at bottom, while those for 2H July-August laycans look a bit higher:

• Thus, brokers suggest $11-11.5/t for spot shipment of 30,000 t of wheat from Constanta to Alexandria with usual 8,000x/5,000x l/d rates;
• Traders target $15-16/t for transportation of 27-28,000 t of wheat from Volos to Tunisia given 3,500x/2,250x l/d rates and late June laycans, while owners are seeking to get at least $17/t (equivalent to $6-6.5k daily vs. $8k daily bss dely Aegean);
• 25,000 t of wheat are carried from Kavkaz roads to Tunisia at $17/t;
• Shipment of 50,000 t of wheat from Constanta to Indonesia is estimated by ISM at very low $30s/t bss 1/1.

As for forward cargoes:

• A couple of deals for transportation of 34-36,000 t of wheat from Taman to Algeria have been signed at $23.5-24.5/t given 8,000x/2,500x l/d rates and 2H July-early August laycans, which is equivalent to $9-10k daily bss dely psg Canakkale in case of AWRP on owner’s acct;
• The contract for shipment of 30,000 t of barley from Constanta to SpanMed with 8,000 sshex bends l/d rates and August laycans has been concluded at $15/t, which means $8-8.5k daily bss dely psg Canakkale.

Offers of other cargoes are sporadic:

• The deal for shipment of 30,000 t of phosphates from Damietta to Sao Francisco do Sul with 6,000x/6,000c l/d rates and early July laycans is discussed at low $20s/t;
• Carrying 40,000 t of steel from Turkey to USEC is estimated by ISM at $20/t bss 1/1;
• Brokers suggest around $30/t for transportation of 50,000 t of pig iron from Novorossiysk to USG;
• A Supra lot of clinker is carried from Algeria to Senegal at low $10s/t.