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The dry bulk cargo market showed a further increase, last week. Leading size regarding this growth, for another week, were Capesize vessels, with their general index (BCI) raising up to 50%, compared to the one of 4th of February and the smaller sizes followed (BPI +38%, BSI +35.4%, BHSI +18%). Given that, BDI presented increase of 545 credits (+38%) and reached 1977 credits Friday 11th of February.
Let’s now see, specifically, how the dry bulk cargo market moved last week, by size of vessel, stating off with capes. In Asia, the Chinese comeback from the Chinese New Year celebrations enhanced the market. With that given, the biggest weekly raises were observed regarding the area’s sub-indexes. To be more specific, indexes C10, C14 and C16 presented an average weekly increase of 65.8%. However the most significant growth was observed on the last sub-index, that presented an increase of 82.6%, although it is still negative. Freight levels regarding the route Australia-China (C5) reached up to 8.56$/ tn, at the end of the week.
At the Atlantic basin, all routes returned to 2digits numbers regarding trips and to 5digits numbers regarding time chartering. The most important growth is observed on transatlantic round voyages, that reached up to 46.8%. Brazil kept on showing an upward trend, despite decreased export volume, this week. Friday’s freight, regarding trips from Brazil to China reached up to $ 23.49 / tn (route C3), while rates from Continent to Asia closed up to $ 34.3 K / day (route C9) and transatlantic round trips up to $ 18.9 k/ day (route C8).
As regards Kamsarmaxes, in the Atlantic basin at the beginning of the week, the good environment of the previous time period, with many cargo from Latin America and bookings at higher numbers from the previous period (mostly regarding trips to Asia). The week kept on the same path, as much in the North as in the South, while the market enhanced with a lot of cargos to the other side of the Atlantic. A point that is noteworthy, is the increased number of waiting days of the East Coast South America for March. For instance, rates for trips from ECSA to the Far East reached up to $ 20-21 k/ day (delivery at Asia), from the US gulf to Asia $ 26-28 k/ day (delivery at Gibraltar) and in the Mediterranean up to 14-15 k/ day.
On the other hand, at Asia the market started off very active with many cargoes, despite the China’s slow flow. Coal cargoes from Indonesia, do not reached the highest levels yet, as they reached last year, although the market was boosted from North Pacific. Rates for round trips to Australia-Far East moved between $ 17.5-19.8 K/ day.
Regarding Supramaxes-Ultramaxes in South East Asia, the market enriched with many new cargoes, while the list of vessels was limited. Given that, in a number of cases, discussions made at the level of 30K, SMX’s rates for trips between S. E. Asia and Far East levelled off at 29.5-30.5 K/ day. Northern, Far East presented a significant growth of rates, compared to last week, reaching a double figure number. SMX’s rates regarding round trips between S. E. Asia and NOPAC moved between $ 26-27.5 K/ day, regarding trips to W. C. India at $ 28-29 K/ day and for returning trips to the Atlantic (BH) at $ 23-24.5 k/ day.
At MEG and W. C. India, the market levelled off during this week, while many vessel easily found occupation. SMX’s rates for trips at the Far East raised at $ 29.5-30.5 K/ day (from MEG – W. C. India), for short trips between MEG – W. C. India at $ 24.5-25.5 k/ day and for tris to Mediterranean at $ 20-21K / day.
At the Atlantic and especially US gulf noted higher numbers, compared to last week. Owners seeing the climate to show some fluctuation preferred not to rush to book and like that charteres forced to increase their ideas. SMX’s rates as regards transatlantic trips raised up to $ 26-27 k/ day and to Asia up to $ 32-33 k/ day. At ECSA area the market illustrated intense activity and sustain its growth, with the biggest increase to be observed for transatlantic trips. SMX’s rates for trips to S. E. Asia-China raised at $ 32-33 K/ day and for transatlantic trips (Mediterranean/ Continent) at $ 30-31 K/ day (delivery at Recalada)
Continent market presented intense activity, with many discussions occurred. Bookings that came up were limited but in higher levels, from the previous period. SMX’s rates for round-local trips moved between $ 14-15 K/ day, regarding trips with Scrap cargo to Mediterranean between $ 14,5-15,5 K/ day and to Asia between $ 26.5-28 K / day. At Mediterranean the market presented growth in all routes, due to increased cargo flow. Meanwhile future predictions are positive creating ambitions for the following period. It is claimed that a SMX for a trip from Mediterranean/ Black Sea to Asia were ostensive booked at $ 31-32 K/ day (delivery at Canakkale/ Black Sea), to the other side of the Atlantic at $ 18-19 K/ day and in the Mediterranean at $ 22.5-23,5 K/ day.
Considering the Handies market, in Continent we observed a slow start off but as the week was passing, was accompanied with many bookings in higher levels, compared to last week. Rates considering vessels with bigger sizes of the category, as regards round trips significantly increased at $ 15-16 K/ day, to the Continent with scrap cargo at $ 14.5-15.5 K/ day and as regards transatlantic trips at $ 14-15 K/ day.
Mediterranean presented improvements, with more cargoes of fertilizers and wheat. Rates of the bigger vessels (bigger than 36K mts DWT) considering trips in the Mediterranean moved between $ 16,5-17,5 K/ day (delivery at Canakkale), to Continent between $17-18K/ day (delivery at Canakkale), to the other side of the Atlantic between $16.5-18K/ day (delivery at Canakkale) and to Asia between $ 23-24 K/ day.
At the other side of the Atlantic, US Gulf illustrated the most action and growth, compared to all rest of the Atlantic. Many cargos and much interest for time chartering for a short period enhanced the positive environment. Rates for the bigger vessels of the category regarding trips to the other side of the Atlantic levelled off at $ 15-16 K/ day and to Asia at $ 24,5-25,5 K/ day.
ECSA’s market remains first considering rates’ level, but presents the sharpest fall as regards it’s flow compared to the rest areas of the Atlantic. Given that, rates for the bigger vessels of ECSA area regarding transatlantic trips (Continent-Meditteranean) moved between $ 26-27 K/ day and to Asia between $ 35-36.5 K/ day.
In Asia, growth has been noted, regarding all routes, not due to the increased flow of cargoes, but mostly due to short of capacity. Additionally, Australia and W. C. India supported the market with more cargos. Rates of bigger vessels of the category for round trips to Far East and NOPAC closed up to $ 25.5-26.5 k/ day, from S. E. Asia to China at $26.5-27.5 k/ day and from W. C. India to China at $ 19.5-20.5 k/ day.

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