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Long list of tonnage in ECSA puts pressure on Supra/Ultra and Handy rates

03.05.18
14:55

The rates for Supramax/Ultramax shipments from the South American ports stay under pressure, as the number of ballasters moving from the Indian Ocean and South Africa with ETA ECSA in 1H May exceeds the number of relevant cargo offers. A 55,000 dwt vessel has been chartered at $13.5k daily + $350k bb bss dely ECSA redel Singapore-Japan with spot laycans. The contract for a similar carrier bss dely ECSA redel PG is negotiated at $13.25k daily + $325k bb. The deals for Ultramax fleet bss dely ECSA redel Singapore-Japan are negotiated at $14-14.3k daily + $400-430k bb. The Supramax time-charter bss dely ECSA redel Skaw-Passero is quoted at $13-14k daily. Spot rates for such fleet bss dely ECSA redel WMed are negotiated at $13.5k daily. The contract for an Ultramax ship bss dely ECSA redel Med with 1H May laycans has been fixed at $14.5k daily.

Meanwhile, brokers note a slight increase in cargo offer for Handysize fleet with prompt laycans. However, the relevant tonnage supply is also quite large, and the pace of cargo traffic is so far insufficient to push the rates up. The deals for 38-39,000 dwt vessels bss dely ECSA redel Skaw-Passero are negotiated at $13-13.5k daily. The rates for 33-35,000 dwt carriers bss dely ECSA redel Continent are negotiated at $12-12.5k daily. A vessel of 35,000 dwt has been chartered at $11.3k daily bss dely ECSA redel Skaw-Passero. The contract for a 37,000 dwt ship bss dely ECSA redel WCSA with mid-May laycans has been fixed at mere $11.25k daily. A 28,000 dwt vessel has been chartered at $13k daily bss dely ECSA redel China with spot laycans. The deal for transportation of 40,000 t of grain from Argentina to the Red Sea ports with mid-May laycans is negotiated at $41-42/t.

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