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BlSea Supramax market faces a rapid slowdown


Demand for Supramax fleet has weakened considerably in the Black Sea. The offer of spot cargoes is extremely dull. At the same time, market players report 25-30 Supramax/Ultramax vessels open for 1H April in the Mediterranean Sea. The charterers now offer mere $15.75k daily bss dely passing Canakkale via BlSea redel Spore-Japan; note that some owners already agree to sign such deals at $17k daily, though many of them still want to get $17.5-18k daily. Supramax owners are seeking to get $18k daily bss dely passing Canakkale via BlSea redel PG. The Ultramax time-charter bss dely WMed redel WAfr is quoted at $13k daily. Traders also insist on lower voyage-basis rates, offering at best $32-33/t for transportation of 50,000 t of grain from Ukraine to China or South Korea in late April - early May. Carrying 50-55,000 t of rebar from Turkey to the UAE is quoted by brokers at $26-27/t bss FILO.

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