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Supra/Ultra and Handy rates under pressure in ECSA amid lack of cargoes

01.03.18
14:50

The Supramax/Ultramax market looks dull in the South Atlantic. Offer of grain remains limited, that is putting pressure on corresponding rates. The Supramax time-charter bss dely ECSA redel Spore-Japan is still quoted by brokers at $13k daily + $300k bb, the Ultramax one at $14k daily + $400k bb, but the shipowners are increasingly facing difficulties maintaining such rates. Deals for 57-59,000 dwt vessels bss dely ECSA redel WCSA/WCCA are negotiated at $16.5-17.5k daily. The Supramax rates bss dely ECSA redel Skaw-Passero amount to $14-15k daily. The contract for a 57,000 dwt carrier bss dely ECSA redel WMed with ETA ECSA on March 8-10 has been fixed at $14k daily. The rates for shipment of alumina by a 60,000 dwt vessel bss dely ECSA redel EMed with ETA ECSA on March 6-8 are now negotiated at $20-21k daily (according to brokers, such level can be considered as positional). The deal for a Supramax carrier bss dely WAfr redel BlSea is negotiated at $10k daily.

ISM sources report shortage of cargoes in the Handysize segment. Requests for transportation of South American grain with 1H March laycans are few. Nevertheless, the owners still manage to avoid a decrease in rates. The time-charter for standard Handysize carriers bss dely ECSA redel Skaw-Passero is quoted at $11.5-13k daily. The rates for 37-39,000 dwt vessels bss dely ECSA redel Continent amount to $13-13.5k daily. The deal for a carrier of 38,000 dwt bss dely ECSA redel Continent has been signed at $13k daily. The time-charter for 37-39,000 dwt ships bss dely ECSA redel Spore-Japan is quoted at $16-16.5k daily, that bss dely USG redel WCSA/WCCA at about $16k daily. The deal for a 46,000 dwt vessel bss dely ECSA redel BlSea has been fixed at $14k daily. Contracts for transportation of 35-40,000 t of grain from Argentina to Algeria with 2H March laycans are negotiated at $30-32/t.

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