Slowly but surely activity has been creeping up in the eastern basin in recent days with owners seeing more room for securing better rates even as prevailing trends remain flat. Indonesia-based business has also gained momentum with S. China delivery to ECI now getting middle US$ 8,000s via Indonesia instead of the low US$ 8,000s range typical a week earlier. Rates for NoPac rounds have not changed significantly since the year began with owners still settling for just over US$ 8,000 in most cases. Back haul rates to the Continent are set to start increasing. Brokers report that Handysizes have been seeing more enquiry of late, which comes as some encouragement for owners who nonetheless have been settling for last-done rates since the start of the year. SE Asia trips to NoPac via W. Australia have been fixed up to US$ 7,500 daily on 28,000 dwt ships, owners say, with some seeking US$7,750. A 32,000 dwt vessel has done US$ 8,250 ex-CJK to N.China.

…read more in today’s BMTI Daily Report.