Handysize market takes a breather in Black and Mediterranean Seas after recent rate hikes

The Handy market recovery has almost paused this week. Moreover, some players think the market has even slowed down a bit. The Supramax market remains literally dead, with rates staying under strong pressure.

At the moment:

• The deal for a 35-36k dwt vessel bss dely passing Canakkale via CVB redel Med is discussed at $7k daily;
• Meanwhile, charterers offer $6.5k daily for a 35k dwt carrier bss APS dely CVB redel SpanMed;
• Other charterers have succeeded to catch a Supra ship at mere $6.5k daily for usual agri run bss APS dely CVB redel ARAG.

As for the long-haul trips:

• Charterers offer $7.5k daily bss APS dely EMed redel NCSA;
• A 34k dwt vessel has been chartered at $8.5k daily for steels run bss dely passing Canakkale via Russia redel USG;
• Charterers are ready to pay at best $10k daily for front-haul trips from EMed or WMed and $7k daily for trips to WAfr.

Grain remains the most popular cargo on the voyage market:

• Traders are ready to pay at best $15/t for shipment of 30,000 t of wheat from Constanta to SpanMed with 8,000x/6,000x l/d rates and 1H August laycans, which is equivalent to $8.2-8.5k daily bss dely psg Canakkale;
• The deal for transportation of 25,000 t of wheat from Bulgaria to EgyptMed is discussed at $13.5/t bss 1/1, which means $6.4-6.5k daily bss dely psg Canakkale;
• Brokers suggest $16/t for shipment of 30,000 t of wheat from Novorossiysk to Alexandria.

As for long-haul trips:

• Charterers offer $40/t for transportation of up to 25,000 t of wheat from Kavkaz roads to Matadi with 6,000x/3,000x l/d rates, which means $8-8.5k daily bss dely psg Canakkale for a 40k dwt vessel with no AWP required;
• The deal for shipment of 30,000 t of petcoke from Constanta to Rizhao is discussed at $35-38/t, which is equivalent to $7.5-8k daily bss dely psg Canakkale;
• Carrying 30,000 t of fertilizers from Barcelona to Durban with 8,000x/3,000x l/d rates and 9-13 August laycans is estimated by ISM at mid-high $30s/t;
• Brokers suggest $23-24/t for shipment of 25-30,000 t of fertilizers from Egypt to Santos bss 1/1 given 7,000x/6,000c l/d rates.