The USG Panamax/Kamsarmax market keeps falling. The segment is struggling to find some support even despite steadier levels of demand from regions that have been quiet so far this year, such as the Black Sea. Most of the T/A demand still comes from ECSA. Desired impetus from FFA values was not received either and spot rates continue to decline:
The Kamsarmax time-charter bss TARV is quoted by brokers at $22-23k daily;
The deal for a Kamsarmax vessel bss dely Gibraltar via NCSA redel Skaw-Passero has been signed at $23k daily;
Contracts for Kamsarmax fleet bss dely Gibraltar via USEC redel Skaw-Passero are negotiated at $23k daily vs. $25k 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 $22-23k daily bss dely Gibraltar;
Transportation of 70,000 t of coal from USEC to Turkey with spot laycans may cost $25-27/t;
The contract for shipment of 75,000 t of coal from USEC to Brazil with spot laycans is discussed at $19-20/t, which is equivalent to $20k daily bss APS USEC.
USG F/H rates are also under pressure amid falling T/A market:
The contract for a Kamsarmax ship bss dely Continent via USEC redel Japan is discussed at $30-31k daily;
A Kamsarmax vessel has been chartered at $33k daily bss dely Continent via USG redel China;
The deal for a Kamsarmax carrier bss dely Singapore via USG redel China has been signed at $25k daily;
Transportation of 66,000 t of grains from the USG to China (via Neopanamax locks) with spot laycans is discussed at $74-76/t, which is equivalent to $32-34k daily;
Shipments of 66,000 t of grains from the USG to China in Aug are negotiated at $77-80/t.
