With holidays in many countries it has been a quiet start to the week. Nevertheless, mesmerizing news and events keep emerging. There have been rumours of operators unwilling to perform last year booked cargoes for the obviously financial reasons. (They seem to lack the resources to cover the difference….) Looking at the Eastern market, head-spinning fixtures have come to light. A 36,000 dwt vessel was taken from CIS for 2-4 months of trading at US$ 32,500 daily with worldwide redelivery. A fertilizer-friendly 32,000 dwt ship was taken from China for an Australian round voyage at US$ 30,000 daily. Another 38,000 dwt ship found a taker at US$ 20,500 daily for 12 months of trading. Yet another remarkable fixture on 38,000 dwt ship has been rumoured done at US$ 25,000 daily for a trip from Japan via Indonesia to Japan. Owners of a 37,000 dwt were not surprised seeing US$ 32,000 daily for their vessel for a trip from Japan to Singapore area.

This given it is difficult to understand why owners of a 36,000 dwt preferred to fix from Freetown via ECSA to the Med at US$ 16,500 daily, instead of doing US$ 21,000 daily with logs to Bangladesh, with the subsequent fixture from Bangladesh likely beyond US$ 35,000 daily for whatever business might appear. A breath taking US$ 40,000 daily was confirmed done on a 38,000 dwt vessel—the “Evangelia 1″—from PG to EC India. Although, the Atlantic basin is also on a more promising streak, it might still continue to trail the PG-China area. Also, from South Africa, charterers are facing severe problems to find Handysize tonnage at affordable numbers. A 30,000 dwt was closely traded at US$ 21,000 daily for a trip to the Med. Brokers have a tough time explaining the charterers the new market on which the owners are calling the shots with rates steadily on the move. Thus hoping to find Handysize tonnage below US$ 20,000 daily for a trip to the US Gulf is wishful thinking. Period fixtures seem to have become more prominent among charterers.

In the US Gulf, a 37,000 dwt ship was covered for 12 months at US$ 18,500 daily, and from Black Sea a similar size vessel got US$ 18,000 daily for 4-6 months of trading. From the ECSA, a very strong US$ 30,000 daily was agreed on 58,000 dwt from Aratu via Plate to the Mediterranean. One of the most astounding fixtures reported has been the “Nordorinoco” of 38,000 dwt vessel with delivery EC Colombia via Chile to the Continent at US$ 19,500 daily, a very rare fixture, and which might explain why other owners with tonnage open in the area also advertising their vessel also basis Balboa.

For exclusive news and updates about dry bulk shipbroking, subscribe to the BMTI Daily Report.