Handysize/Supramax market cooling off in Black Sea

The market activity certainly looks slower in the Black and Mediterranean Seas this week. However, still rather tight tonnage supply in the area prevents a significant rate decline. Thus:

• Owners of 33-34k dwt vessels are still able to get $13.5-14k daily for inter-Med trips bss dely passing Canakkale via CVB;
• The deal for a small Handy carrier of 22-23k dwt bss dely Aegean via Marmara or CVB redel Med is discussed at $12k daily;
• Charterers are ready to pay at best $14k daily for a large Handysize ship bss dely EMed redel ECSA;
• Earlier in the week, a 40k dwt vessel was chartered at quite strong $16.5k daily bss dely EMed redel USG;
• As for larger tonnage, a couple of front-haul deals for Supramax and Panamax carriers are negotiated at $26-27k daily (Ukraine and Russia excl.);
• The contract for a usual clinker run by an Ultramax ship bss DOP dely EMed via Turkey redel Abidjan has been signed at $24k daily.

As for so called premium trips:

• The deal for a Panamax vessel bss DOP dely WCI via Ukraine redel Spore-Japan is discussed at $21-22k daily, while Kamsarmax owners are seeking to get $24k daily bss dely PG for the same;
• Owners of a $78-79k dwt carrier want to get $18k daily for a front-haul run bss dely passing Singapore via Ukraine;
• Brokers suggest $32-34k daily for a Supramax ship bss dely passing Canakkale via Ukraine redel SE Asia;
• The deal for a Handysize vessel bss dely passing Canakkale via Novorossiysk redel Med is negotiated at $17-18k daily.

There are not many fresh voyage-basis offers from Ukraine:

• Up to 30,000 t of corn are carried from POC to SpanMed at $37/t with 8,000 sshex bends l/d rates, which gives the TCE of $23k daily bss dely psg Canakkale in case of $200k of EWRI + crew bonus or $21k daily in case of $250k of EWRI + crew bonus;
• The deal for transportation of 25-30,000 t of corn with 7,000x/5,000x l/d rates is discussed at mid-$30s/t, which is equivalent to $19-22k daily bss dely psg Canakkale in case of $170-200k of EWRI + crew bonus;
• 50,000 t of rapeseed meal is carried from POC to ARAG ports at $46/t;
• Ship owners are seeking to get at least $65-66/t for shipment of 65-68,000 t of corn from PC to S.China in 1H January, which exceeds $38k daily bss dely Port Said in case of $600k of EWRI + crew bonus.

As for other cargoes and origins, relevant spot offer looks modest as well:

• Charterers are ready to pay high $20s/t for transportation of 25,000 t of wheat from CVB to Tunisia with 7,000x/2,250x l/d rates, which is equivalent to $14-15k daily bss dely psg Canakkale;
• Traders target $20.5-21/t for forward shipment of 30,000 t of wheat from CVB to Algeria with 9,000x/2,500x l/d rates and February-March laycans, while owners are seeking to get $24-25/t so far (equivalent to $9.5-10k daily vs. $12.5-14k daily bss dely psg Canakkale);
• The deal for transportation of 25,000 t of wheat from Novorossiysk to Tunisia with 10,000x/2,250x l/d rates and 20-30 December laycans has been signed at $31/t, which means $14-14.5k daily bss dely psg Cnakkale in case of $60-70k of EWRI on owner’s acct;
• As for non-grain cargoes, charterers are ready to pay low-mid $20s/t for shipment of 20,000 t of urea from Tuapse to Constanta with 7,000x/3,500x l/d rates, which is equivalent to $12.5-13.5k daily bss dely psg Canakkale;
• Brokers suggest low $30s/t for transportation of 30,000 t of steels from Novorossiysk to Algeria and $11.5-12.5/t for shipment of 30-40,000 t of clay from Marmara to Ravenna;
• Carrying 25,000 t of bagged cement from Turkey to USEC is estimated by ISM at low $40s/t bss 1/1 given 5,000 sshex bends l/d rates.