The chartering market off the Continent has been pretty busy for the larger Supra-Ultramax tonnage. Front haul rates have been reported agreed at US$ 20,500 daily on Ultra tonnage for a trip to China. Even for Baltic rounds with delivery Rotterdam and redely North Spain have been done at the equivalent of US$ 14,000 daily. Ultra owners were rating trips to West Africa at US$13,000 daily with Ireland delivery. An Ultra open West Med was also competing for the same business at US$ 11,500 with delivery Gibraltar reflecting the poor state of the med market. The Kamsarmax market is in a downward spiral. Trans-Atlantic is now at US$13,000, which line will be hard for the owners to defend. It is likely to continue dropping. DOP rates can no longer be taken for granted for USG business. Charterers prefer to pay a ballast bonus. From the lacklustre Black Sea, grain charterers booked a cargo of about 50,000mt from Ukraine to GNS at the daily equivalent of US$7,500. The USG Handysize market is considered stable if quiet. Coal charterers were fixing a 38,000 dwt ship to Italy at the daily equivalent of around US$13,000. From New Brunswick a 38,000 dwt has been fixed on subs at US$ 10,000 daily for a trip to UK-Continent.
From ECSA, tonnage of 38,000 dwt has been fixed in the range of US$ 15,500-16,250 daily for trips to WCSA. The numbers for trips from ECSA to USG for 35,000 dwt tonnage are hovering around US$ 10,000 daily, although a 33,000 dwt was confirmed at US$ 9,250 daily, also for this run. A 30,000 dwt was taken for a trip to the USEC at US$ 10,250 daily.
There seems quite a number of Ultra and Supramaxes ballasting from the Indian Ocean towards ECSA hoping to find suitable employment after having burned all the dirty bunkers, for which such a voyage of course is ideal. An Utramax front haul was done for 5-15 January dates, but details remained sketchy. Regrettably, the East compares poorly with the Atlantic, which market is not free from flaws either, but the average income looks much better. Owners of a 20-year-old 32,000 dwt were seeing US$ 4,000 for a trip from S.Korea to E.Africa, which the owners would do at US$ 5,500-6,000 daily. From ECI to Vietnam 32,000dwt tonnage was offered at US$ 7,500 daily, not attracting charterers. Coal charterers’ rate for a 58,000 dwt bulker ex-S.Korea via CIS was close to US$ 6,000 daily, which is less than last-done.
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