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Supramax/Ultramax market still in upbeat mode in Baltic & Continent


The Supramax/Ultramax market stays firm in the Baltic & Continent. Strong demand for such fleet is still supported by brisk shipments of steel scrap. Fertilizers, coal, iron ore and agri products are somewhat less frequently carried in the region. The limited tonnage supply plays into the shipowners' hands and allows them to keep the rates high at the level of early December.

A Supramax vessel has been chartered at $17k daily for transportation of steel scrap bss dely Ghent redel Turkey. The deal for Ultramax shipment of scrap bss dely Gdansk redel EMed has been signed at $20k daily. Fronthaul Supramax rates amount to $18-19k daily.

Operators are seeking to get $26-27/t for transportation of about 50,000 t of grain from the Baltic State port to the eastern Mediterranean. According to ISM sources, the charterers have managed to ship 35,000 t of steel scrap (sf 63`) from Klaipeda to Iskenderun at about $26.5/t, while such shipment is still quoted by $1-2/t higher in the market.

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