Supramax/Ultramax owners cannot resist downtrend in ECSA

The South Atlantic Supramax/Ultramax market is showing limited activity. Negative trend continues; particularly this applies to spot vessels as owners lower their ideas further in order to secure cargoes, both on T/A and F/H routes, amid lively ballaster inflow from Europe, the USG and USEC towards ECSA:

• TCT rates for Ultramax fleet bss dely ECSA redel FEast are hovering at $18k daily + $800k bb, those for large Supramax vessels at $16-17k daily + $600-700k bb on average;
• The deal for an Ultramax carrier bss dely ECSA redel China is discussed at $18-18.5k daily + $825-850kbb;
• A 58k dwt ship has been fixed at $16.5k daily + $650k bb bss dely ECSA redel China;
• The contract for a Supramax vessel bss dely Gibraltar via ECSA redel FEast has been signed at $25k daily;
• A Supramax carrier has been chartered at $28k daily bss dely WAfr redel FEast;
• Transportation of 40,000 of corn from Argentina to Yemen may cost $77-80/t, which is equivalent to $22-24k daily bss APS WAfr.
• TCT rates for Supramax fleet bss dely ECSA redel Skaw-Passero are hovering at low-mid $30s k daily;
• The deal for a 55k dwt ship bss dely ECSA redel Continent has been signed at $35k daily;
• The contract for a 58k dwt vessel bss dely ECSA redel Skaw-Passero is discussed at $36-38k daily;
• A 61k dwt carrier has been fixed at $39k daily bss dely ECSA redel Med;
• Transportation of 35-40,000 t of grains from Upriver to Algeria with late June laycans is negotiated at $61/t vs. $63/t, which gives the TCE of $30k daily vs. $33k daily for a large Supramax vessel.

The Handy market is on a wait-and-see mode, especially for charterers who expected the rates to go down further during the next couple of weeks. Owners of fleet are willing to ballast from Caribs/NCSA to northern Brazil to find the right cargo and better repositioning for the next voyage:

• TCT rates for Handy fleet bss dely ECSA redel Skaw-Passero are hovering at mid-$20s k daily;
• The deal for a 33k dwt vessel bss dely ECSA redel Skaw-Passero is discussed at $24-25k daily;
• The contract for a 35k dwt carrier bss dely N.Brazil redel Med is negotiated at $21-23k daily;
• Rates for ECSA coastal trips are hovering at mid-high $20s k daily;
• A 32k dwt ship has been fixed at $19k daily bss dely N.Brazil redel USG;
• The deal for a large Handy vessel bss dely ECSA redel WCSA is discussed at low-mid $20s k daily;
• Transportation of 30,000 t of grains from Upriver to Algeria is negotiated at $64/t vs. $67/t, which gives the TCE of $25k daily vs. $28k daily for a 38k dwt carrier bss APS ECSA;
• Shipment of 30,000 t of grains from Upriver to Morocco is discussed at $60/t vs. $62/t, which gives the TCE of $23k daily vs. $25k daily for a 37k dwt vessel bss APS ECSA.