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Handy and Supra owners stay bullish in Baltic & Continent

19.10.17
16:30

There is some rush in the Supramax and Handysize/Handymax segments of the Baltic & Continent. The cargo flow is brisk and steady. In addition, market players report healthy offer of steel scrap, fertilizers and agri products. Demand for such fleet remains strong, with acute imbalance of cargo offer and tonnage supply. The existing situation is playing into the shipowners’ hands. They are increasingly raising the rates, though their ideas often look too high even considering the current inspiring sentiment in the market.

The owners of fleet already want to get $21-23k daily for Ultramax transportation of scrap to the Mediterranean Sea and about $20k daily for a Supramax shipment. However, the corresponding deals are still signed by $1-2k daily below the shipowners’ ideas. At the same time, the deal for transportation of steel by a 40,000 dwt vessel bss dely Poland redel EMed (including Israel) has been signed at $18k daily; the charterers had to agree to such a level given acute shortage of carriers. The ship of 32,000 dwt can be chartered at about $15k daily on the same route. The fronthaul rates are also voiced slightly above last week’s levels. The Supramax time-charter bss dely Continent redel Feast is now quoted at about $20k daily. The vessel of 35,000 dwt with good specs has been chartered at $21k daily bss dely Baltic redel Bangladesh. The owners of Handysize fleet are voicing the ideas of about $20k daily for shipments to India. The charterers are ready to pay $53-54/t for transportation of 30,000 t of fertilizers from Lithuania to Bangladesh. The transatlantic rates have not changed much. The carrier of 37,000 dwt has been chartered at $9.5k daily bss dely Baltic redel USG. Transportation of 25,000 t of fertilizers from Klaipeda to Brazil costs about $28/t.

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