Ultramax tonnage was taken for a NoPac round voyage at US$ 26,000 daily. Another one was concluded for 12 months of trading at around US$ 21,500 daily. It is highly unlikely that owners of a 23,000 dwt open in P.I. needed to be persuaded for doing a trip to WC India at just below US$ 20,000 daily, where they can expect rates of around US$ 35-40,000 daily for a trip back to China. From EC India, a couple of Ultramaxes got fixed at US$ 40,000 daily to China. The PG is another hot spot, with a 56,000 dwt taken from Oman via PG to EC India at the same fabulous US$ 40,000 daily. And the rate of US$ 18,000 daily done on an Ultra from Japan via NoPac to the ECSA must be considered as a good choice by the owners.

Handysize brokers keep warning their charterers to brace for a rising market. A 32,000 dwt ship was fixed from Southeast Asia via China-South Korea-CIS back to Singapore at US$ 30,000 daily. Handysize back haul rates have risen to US$ 15,000 daily on 40,000 dwt tonnage open Japan. As repeatedly mentioned earlier, the lack of container capacity is leaving many traders no choice but to investigate dry cargo market options. From the East, in particular wood pulp, steel and many other break bulk cargoes have now been booked by parcel operators, which is visible by the increased numbers of back haul orders.

South Africa has been a steady high level market, with a 57,000 dwt taken from ECI via South Africa to the East at US$30,000 daily. Rates for Ultramaxes for front haul with delivery in Durban are hovering at around US$ 19,500 daily plus US$ 950,000 BB. A 38,000 dwt ship failed at US$ 20,000 daily with delivery Mombasa via South Africa to the Continent. For ECSA, there is a softer feel for March to early April, which brokers believe will be short-lived.

Continent-Baltic is also looking very attractive for Ultramaxes & Handysizes. Charterers needed to take a 36,000 dwt from Morocco at US$ 19,000 daily to cover a trip from the Continent to the ECSA. Voyage rates from the Baltic to the ECSA for around 30,000 mt fertilizers are hovering at around US$ 65/mt. The Black Sea-Med appears to be holding steady, although US$ 20,500 daily on a 35,000 dwt vessel from the East Med to the US Gulf is a good number, which even for Ultramaxes would be a good rate. A Supramax was taken at US$ 18,000 daily from the East Med via Romania to carry slag to the Continent.

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