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Upward trend in Handysize TCT rates continues in BlSea & Med


Despite the fact that Handysize cargo flow stabilized in the Black Sea last week, the owners start raising rates once again. Note that demand for fleet has strengthened in the region, primarily in the time-charter market. According to ISM sources, many operators were actively booking cargoes (including off the market) in the second half of February, and are now seeking to fix vessels on TCT-basis. In these circumstances, the owners are insisting on higher rates, though the number of open vessels of 28-36,000 dwt is rather large in the Mediterranean Sea. So, the owners of 32-33,000 dwt carriers want to get at least $9.5-10k daily bss dely DOP EMed via BlSea redel Med. According to brokers, some operators have even signed spot deal for such vessel bss dely passing Otranto via BlSea redel Tunisia at very strong $10.25k daily. However, the time-charter bss dely passing Canakkale via BlSea redel EMed is quoted by most brokers at $9k daily. The deal for a Handysize ship of 33,000 dwt bss dely DOP Egypt redel Atlantic has been signed at $10k daily (for 3-5 moths trading). A similar vessel has been chartered at $9k daily bss dely DOP Iskenderun redel Atlantic for 2 laden legs.

The number of new voyage-basis offers is small, though the relevant rates are gradually growing. Thus, the charterers are ready to pay $16/t for transportation of 25,000 t of grain from Odessa to western Italy. The owners want to get at least $15/t for shipment of 25-30,000 t of grain from Odessa to Egypt; carrying a similar lot of grain from the Kavkaz port road to Egypt is now quoted also at $15/t. The charterers are ready to pay $20/t bss free DA in Niko for transportation of 12-13,000 t of agri products (sf 55`) from Nikolayev to Ravenna, which is equivalent to $5.7-6k daily bss RV. The charterers are ready to pay low $20’s/t for shipment of 30,000 t of ferrous raw materials from Ukraine to eastern Mexico in late March.

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