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Handy freight market. Indian Ocean, PG and Red Sea // week 46

16.11.16
10:41

In the Indian Ocean, the time-charter rates for Supramax vessels open in the Persian Gulf ports and off the Indian coast remain high after last week’s increase. According to key players, the increase was caused by growing number or requests for transportation of construction materials (limestone and gypsum) with November 10-20 laycan dates, coming from steel companies Bhushan Steel Ltd. and Jindal Steel & Power Ltd, which allowed the owners to raise the rates. Moreover, there is now a shortage of fleet in spot positions in this part of the basin due to the outflow of vessels to South Africa.

The rates for Supramax carriers bss APS dely PG redel ECI are within $8-9k daily. The time-charter deal for such ship bss DOP dely WCI via Mina Saqr redel ECI has been signed at $6k daily. The rates for Supramax fleet bss APS dely PG redel China are voiced at $7k daily on average. The charterer has paid $7.05k daily for a Supramax vessel chartered bss DOP dely Kuwait via Iran redel China. Similar carrier has been chartered at $6.7-6.9k daily bss DOP dely Kandla via Iran redel China. The time-charter for a Handymax ship of about 46,000 dwt bss DOP dely Karachi via Iran redel China is negotiated at $7k daily. The rates for Supramax fleet bss APS dely India redel China amount to $6-6.5k daily. On the voyage-basis, the contract for transportation of 50,000 t of limestone for Mina Saqr to eastern India has been fixed at $6.45/t. Carrying 30-40,000 t of rock phosphate from the Red Sea ports to Hazira or Kandla may cost $6/t. The charterers offer $17/t for shipment of 25,000 t of minerals from the same region to Chinese river ports.

Increasing cargo offer in South African ports (besides offers of coal for shipments to China and India, the number of requests for transportation of chrome and manganese ores to China has also grown significantly) has played into the hands of Supramax/Ultramax owners and allowed them to raise the relevant rates significantly. The rates for Supramax fleet bss APS dely SAfr redel China are now voiced by brokers at $12k daily, while the deals for shipments to India are signed at $14-15k daily. An Ultramax vessel has been chartered at $18k daily bss APS dely Richards Bay redel India with prompt laycan dates. The contract for a similar carrier bss DOP dely Sri Lanka via SAfr redel ECI has been concluded at $8.6k daily. At the same time, voyage-basis rates have not changed much so far. The transportation cost of 50,000 t of coal from Richards Bay to Paradip with December laycan dates is $9.3-9.6/t. Carrying a similar cargo lot from Richards Bay to Karachi is negotiated within $9-9.5/t.

In the second half of November, the situation is likely to stabilize in the Handymax/Supramax segment of the Indian Ocean. However, the owners may manage to raise the rates further if the cargo flow keeps gradually perking up in the region.

Bauxites, 50,000t, Porbandar - Longkou, $/tonne

Time-charter-trip rates, $/day

Limestone, 50,000t, Mina Saqr - Paradip, $/tonne

Current Supramax TCT rates bss APS delivery

PG - India 8-9k daily
PG - China 7k daily
Red Sea - India 7k daily

Current Handysize TCT rates bss APS delivery

PG - China 6-7k daily
Red Sea - India 6-7k daily

Spot/ppt freight assessments on main trade routes ex Indian Ocean, PG and Red Sea ports

Cargo Lot Loading port Country Discharging port Country Given load rate Given disch rate Rate, $/tonne w-o-w
steel products 15,000t Jubail Saudi Arabia 1 port Singapore cqd cqd 29-30 =
steel products 15,000t Abu Dhabi UAE 1 port Egypt cqd cqd 21 =
steel products 15,000t Abu Dhabi UAE Iskenderun Turkey cqd cqd 27-28 =
iron ore 55,000t Bandar Khomeini Iran Northern ports China 8000c 12000c 9-10 =
iron ore 50,000t West Coast India Qingdao China 8000c 12000c 5-6 =
iron ore 50,000t East Coast India Tianjin China 8000c 12000c 4-5 =
iron ore 50,000t Saldanha Bay South Africa Mundra India 10000c 10000c 9-10 =
iron ore 40,000t Vizag India Shanghai China 8000c 12000c 6-7 =
iron ore 35-40,000t Bandar Khomeini Iran Rizhao China 8000c 12000c 10-11 =
iron ore 35-40,000t Paradip India Qingdao China 8000c 12000c 7-7.5 =
iron ore 25-30,000t West Coast India Eastern ports China 5000c 8000c 12-13 =
iron ore 20,000t Vizag India Shanghai China 5000c 8000c 10-11 =
iron ore 20,000t Saldanha Bay South Africa Qingdao China 6000c 8000c 13-14 =
manganese ore 50,000 Maputo Mozambique Qingdao China 10000c 12000c 10-11 =
bauxites 50,000t Porbandar India Longkou China 8000c 14000c 8 =
coal (sf 39-41`) 50-55,000t Richards Bay South Africa West Coast India 30000c 15000c 9-10 =
coal (sf 39-41`) 50-55,000t Richards Bay South Africa East Coast India 30000c 15000c 9.5-10 =
coal (sf 39-41`) 40,000t Richards Bay South Africa Iskenderun Turkey 20000c 15000c 11 =
coal (sf 39-41`) 20,000t 1 port South Africa Mumbai India 8000c 4000c 11-11.5 =
coal (sf 39-41`) 20,000t 1 port South Africa Karachi Pakistan 8000c 4000x 10.5-11 =
fertilizers 35,000t Qalhat Oman Hazira India 12000x 6000x 7.5-8 =
urea 35,000t Dubai UAE Mumbai India 12000x 6000x 7.5-8 =
urea 35,000t Ras Al-Khair Saudi Arabia Cape Town South Africa 12000x 6000x 10-10.5 =
urea 35,000t Jubail Saudi Arabia Beira Mozambique 12000x 6000x 9.5-10 =
sulphur 53,000t Ras Al-Khair Saudi Arabia Southern ports China 15000x 10000c 8 =
sulphur 30,000t Ras Al-Khair Saudi Arabia Southern ports China 12000x 8000c 10-11 =
sulphur 30,000t Ras Al-Khair Saudi Arabia Northern ports China 12000x 8000c 11-12 =
salt 50,000t West Coast India Dalian China 6000x 10000c 7 =
salt 40-45,000t Dubai UAE Southern ports China 6000x 8000c 10 =
salt 40-45,000t 1 port Iran Southern ports China 8000x 8000c 12 =
salt 35,000t Kandla India Guangzhou China 6000x 8000c 8 =
salt 25-30,000t Kandla India 1 port Japan 6000x 8000c 14 =
salt 20-25,000t Kandla India Chittagong Bangladesh 6000x 2000x 9-10 =
salt 20,000t Kandla India Hai Phong Vietnam 6000x 5000c 10-11 =
rice in big bags (sf 50-52`) 35,000 Kakinada India Lagos Nigeria 2000x 1500x 24 =
rice in big bags (sf 50-52`) 35,000t Mundra India 1 port Mozambique 2000x 2000x 16-17 =
rice in big bags (sf 50-52`) 35,000t Kakinada India Dakar Senegal 2000x 1500x 23-24 =
rice in big bags (sf 50-52`) 20,000t Kakinada India Dakar Senegal 1500x 1250x 25-26 =
rice in big bags (sf 50-52`) 20,000t West Coast India Bushehr Iran 2000x 2000x 13-14 =
rice in big bags (sf 50-52`) 20,000t Kandla India Umm Qasr Iraq 2000x 1750x 14 =
rice in big bags (sf 50-52`) 20,000t Kandla India Jakarta Indonesia 1500x 1750x 18 =
maize (sf 47-48`) 20,000t Kakinada India Ho Chi Minh Vietnam 3000x 3000x 14 =
soybean meals (sf 60-64`) 30,000t Kandla India 1 port Iran 5000x 4000x 18 =
sugar 25,000t Mumbai India Chittagong Bangladesh 3000x 2500x 16 =
sugar in big bags (sf 48-50`) 25,000t Kakinada India Port Sudan Sudan 1750x 2000x 23 =
gypsum 50,000t Salalah Oman Vizag India 12000c 12000c 7 =
gypsum 50,000t Salalah Oman Kandla India 12000c 12000c 6-7 =
cement in jumbo bags (sf 40`) 30,000t Karachi Pakistan Cape Town South Africa 3000c 4000x 10-11 =
cement in jumbo bags (sf 40`) 25,000t Karachi Pakistan Colombo Sri Lanka 3000c 2000c 13 =
cement in jumbo bags (sf 40`) 15,000t Karachi Pakistan Moroni Comoros 2000c 1500c 27-28 =
clinker 50,000t Vizag India Mombasa Kenya 7000c 3500x 12 =
clinker 50,000t Vizag India Chittagong Bangladesh 7000c 3500x 5 =
clinker 45,000t Bandar Abbas Iran Red Sea ports Egypt 5000c 6000c 11 =
clinker 40,000t Porbandar India Dubai UAE 7000c 12000x 6 =
limestone 50,000t Khasab Oman Vizag India 12000c 10000c 6.5-7 =
limestone 50,000t Mina Saqr UAE Paradip India 12000c 10000c 6.5-7 =
limestone 50,000t Mina Saqr UAE Mumbai India 12000c 10000c 6-6.5 =
limestone 50,000t Dubai UAE Mumbai India 12000c 10000c 6-6.5 =
limestone 40,000t Dubai UAE Mumbai India 10000c 8000c 6 =
dolomite 50,000t Dubai UAE Mumbai India 12000c 10000c 5.5-6 =
aggregates 50,000t Mina Saqr UAE Mesaieed Qatar cqd cqd 5.5-6 =
aggregates 50,000t Mina Saqr UAE Shuaiba Kuwait cqd cqd 4.5-5 =

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