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USG Supramax/Ultramax market to grow stronger

11.01.18
14:19

Positive trends are finally seen in the North Atlantic Supramax/Ultramax market after a slowdown in trade and a drop in rates reported last week. Brokers highlight the growing number of requests for shipments of US agri products from the Gulf of Mexico ports with late January laycans. ISM sources are also talking about stronger offer of cargoes with February laycans. The Supramax/Ultramax owners have managed to raise the rates due to brisker demand for such fleet. Supramax grain transportation bss dely USG redel Spore-Japan was quoted by brokers at $23-24k daily earlier this week, but around January 10, the contract for a 58,000 dwt vessel bss dely USG redel Japan with January 20-30 laycans has been concluded at $25.5k daily. Deals for Ultramax carriers bss dely USG redel Spore-Japan are now negotiated at $26-27k daily, while earlier this week, a similar vessel was chartered at $24k daily bss dely USG redel China. The carrier of 66,000 dwt has been chartered at $26k daily bss dely USG redel Philippines with January 28-31 laycans. The rates for Ultramax fleet bss dely USG redel WCCA now amount to $28-30k daily compared with a fixture of $27k daily reported last week. Brokers advise on $45-47/t for transportation of a Supramax-lot of grain from the Gulf of Mexico ports to China with late January laycans.

The week has ended with favorable developments in the transatlantic segment. The Supramax time-charter bss dely USG redel Skaw-Passero is now quoted at $21.5-22.5k daily compared with $19-20k daily last week. The contract for coal transportation bss dely USG redel EMed is negotiated at $21.5-22.5k daily. The rates for Ultramax shipment of petcoke bss dely USG redel EMed are hovering within $23.5-24.5k daily. The deal for an Ultramax vessel bss dely USEC redel Continent is negotiated at $25-27k daily. The deal for a Supramax vessel bss dely NCSA redel Continent is negotiated at $22k daily. The ship of 46,000 dwt has been chartered at $19k daily bss dely USG redel WAfr with spot laycans.

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