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Asia-Pacific Pmx/Kmx market still soft, though with some optimistic signs

25.04.18
14:45

The Panamax/Kamsarmax freight market remains slack in the southern part of the Asia-Pacific region. According to players, only Indonesian coal is rather regularly offered for transportation to India with 1H May laycans, while the requests for exports from Indonesia to China and from Australia to India are still few. However, market participants assume that the rates for shipments on key routes have already reached the bottom and forecast a gradual improvement in the market. Despite sufficient spot/prompt tonnage supply in the region, there is no surplus of fleet due to the recent outflow of ballasters to the South America. Moreover, the TC-period rates hold steady. The corresponding TCT rates have generally stayed at last week’s levels, though some deals are even negotiated slightly above these levels. The Panamax time-charter bss DOP dely S.China via Indo redel China is now estimated at $9-10k daily, though the owners want to get at least $10k daily on this route. A Panamax vessel has been chartered at $10k daily + $75k bb bss APS dely Indo redel S.China. The deal for a 72-73,000 dwt carrier bss DOP dely Vietnam via Indo redel India has been signed at $7.75k daily. A Panamax ship has been chartered at $9.75k daily for transportation of alumina bss DOP dely Songxia via WAus redel PG. The contract for a 78-79,000 dwt vessel bss DOP dely N.China via EAus redel India has been fixed at $9.5k daily. A Kamsarmax carrier has been chartered at $9.3k daily bss DOP dely Hon Gai via Indo redel S.China. The deal for a Kamsarmax ship bss DOP dely Zhoushan via EAus redel ECI has been signed at $11k daily. A vessel of 87,000 dwt has been chartered at $12.35k daily bss DOP dely Taiwan via Abbot Point redel Japan.

At the same time, the voyage-basis rates have inched up due to an increase in bunker prices. The transportation cost of 65,000 t of coal from Taboneo to Guangzhou with May 1-10 laycans is now voiced by brokers at $6/t, while the owners insist on $6.5-7/t. Shipment of 75,000 t of the cargo on the same route may cost $5.5-6/t. Transportation of 70-75,000 t of coal from Indonesia to the west coast of India is negotiated at $8.5-8.75/t. The rates for shipment of 80-85,000 t of coal from Dalrymple Bay to Liuheng now amount to $11.5/t. A 75,000 t lot of coal from the east coast of Australia to Vizag with May 10-20 laycans has been fixed at $14.35/t, while a similar deal with May 20-30 laycans has been signed at $14/t.

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