Rates for Smx/Umx shipments from USG improving on T/A routes

The USG Supramax/Ultramax market has finally started to show some recovery, with rates firming up amid the clear out of spot tonnage. The greatest gains have been seen in the transatlantic segment, while front-haul activity is limited, with many owners keen to reposition vessels to the Pacific region:

• TCT rates for large Supramax fleet bss dely USG redel FEast are hovering at $25-26k daily;
• The deal for a petcoke shipment by a 58k dwt carrier bss dely USG redel China has been signed at $28k daily with July laycans;
• The contract for an Ultramax ship bss dely USG redel India is negotiated at $31-33k daily;
• The deal for a Supramax vessel bss dely USG redel WCCA has been signed at $27k daily;
• Shipment of 50,000 t of petcoke from the USG to ECI with spot laycans may cost $54-56/t, which gives the TCE of $26-28k daily for a large Supramax vessel.
• Deals for Supramax/Ultramax fleet bss dely USG redel Skaw-Passero are discussed at $26-27k daily;
• The contract for a petcoke shipment by a 56k dwt vessel bss dely USG redel Med has been signed at $29k daily;
• The contract for a 58k dwt carrier bss dely USG redel Skaw-Passero has been concluded at $26k daily;
• A Supramax ship has been fixed at $23k daily bss inter-Caribs;
• Rates for a 56k dwt vessel bss dely USG redel NCSA are discussed at $18-20k daily;
• Transportation of 50,000 t of petcoke from Houston to Rotterdam with spot laycans is negotiated at $27-29/t, which gives the TCE of $25-28k daily for a standard Supramax vessel.

Meanwhile, the USG Handy market is stagnant. The tonnage supply remains excessive, with a decrease in number of fresh cargoes entering the market this week:

• TCT rates for large Handies bss dely USG redel Skaw-Passero are hovering at $16-17k daily;
• The deal for a large Handy vessel bss dely USEC redel Continent is negotiated at $17-18k daily;
• A 37k dwt ship has been chartered at $18k daily bss dely USG redel Med;
• Charterers are bidding at $14-15k daily bss dely USG redel Continent for a 33k dwt ship;
• The contract for a 33k dwt vessel bss dely USG redel Caribs is discussed at $15-16k daily;
• The deal for a 33k dwt carrier bss dely USG redel WCCA has been signed at $25k daily.