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ECSA Pmx/Kmx market grows stronger for 2H March laycans

21.02.18
14:17

The situation keeps improving for Panamax/Kamsarmax owners in the South Atlantic. New requests for transportation of South American grain with H2 March laycans are frequently reported in the market, which allows the owners to raise the freight level. Thus, several deals for Kamsarmax vessels bss dely ECSA redel Spore-Japan with mid-March laycans have been fixed at $15.25k daily + $525k bb, while last week, the owners of such fleet were able to get at best $15k daily + $500k bb. The carrier of 77,000 dwt has been chartered at $15k daily + $500k bb bss dely ECSA redel Spore-Japan with March 10-20 laycans. Transportation of 60,000 t of grain from Santos to China with H2 March laycans is now quoted at about $31-32/t, while last week, relevant deals were negotiated at $30-31/t. The contracts for shipments of agri products from Brazil to China with April laycans are also quite actively negotiated in the market. The transportation costs of 60,000 t of grain from Santos to China with April laycans are negotiated at $33.5-34/t, while brokers expect corresponding rates to grow further in the near future. The vessel of 81,000 dwt has been chartered at $16.5k daily + $180k bb bss dely ECSA redel Skaw-Passero with ETA ECSA on March 6-7. A Kamsarmax carrier has been chartered at $15.25k daily + $140k bb bss dely ECSA redel Skaw-Passero, as the freight level for February dates is still rather low. Owners of ships with ETA ECSA in late February are still facing difficulties finding the cargoes and have to stand idle expecting suitable requests until early March. As a result, the rates for shipments with March 1-5 laycans are also under pressure. The Panamax time-charter bss dely ECSA redel FEast with late February-early March laycans is quoted by brokers at $14k daily + $400k bb. The deal for a Panamax vessel bss dely ECSA redel FEast with February 28-March 3 laycans has been signed at $13.95k daily + $395k bb.

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