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The dry bulk cargo market had a slight growth. Atlantic Basin is under general uncertainty due to war, since Mediterranean and Continent are ‘frozen’ considering demand and supplied capacity there and is trying to move to the other areas. In Asia the various markets kept on ‘running’ and is noting higher bookings. Capes decreased by 3.3%, Kamsarmaxes increased by 4.8%, Supramaxes by +7% and Handies by +3.2%, compared to last week. Given that, BDI illustrated an increase of 72 credits (+3.5%) and closed up to 2148 credits on Friday 4th of March.
Let’s now see more specifically, how the dry cargo market moved last week per vessel size, starting off with Capes. In Asia, the market presented significant variations, but the fundamental route Australia-China (C5) closed up at the end of the week more than 10 dollars per tonne. On the contrary, round trips to the Pacific lost during the week, more than 3.000 dollars per day. Freight levels for the route Australia-China (C5) closed up at the end of the week at $ 10.15 / tn.
In the Atlantic Basin, activity does not seem to returned on its normal levels, while the negative environment is enhancing the absence of the Black Sea. However the market presented two faces. In the North, transatlantic trips and trip to Asia presented a slight drop, while Brazil presented growth, compared to last week. Friday’s freights, regarding trips from Brazil to China reached up to $ 23.64 / tn (as regards route C3), while rates for trips from Continent to Asia closed up to $ 35.5 K/ day (as regards route C9) and transatlantic round trips up to $ 14.43 K/ day (as regards route C8).
Considering Kamsarmaxes, in the Atlantic Basin the market started off with many bookings, new cargo and intense activity. The northern market contained its rhythm, while East Coast of South America presented lower speed. The end of the week found North Atlantic slightly retreating, while in the South, rates improved. Indicative, rates regarding trips from East Coast of South America (ECSA) to the Far East levelled off at $ 27-29 K/ day (delivery at Asia), to the Mediterranean-Continent at $ 38-40K/ day (delivery at ECSA) and from U. S. Gulf and North Coast of South America to Asia at $ 33-35 K/ day.
On the other hand, in Asia calmness prevailed on the start of the week with the involved parties to be hesitated proceeding to a booking. That’s how the week continued, with limited activity, even though there was a positive environment. During the last days, the market reinforced with coal cargo from Indonesia and wheat from the North Pacific (NOPAC). Rates regarding round trips to Australia-Far East moved between $ 27-29 K/ day.
Considering Supramaxes-Ultramaxes in South East Asia, the market overcame 40K regarding trips to the North. Charterers attracted vessels from East India as well, in order to meet their needs. SMX’s rates for trips between S. E. Asia and the Far East increased at $ 40-41 K/ day. Northern, in Far East the market kept on increasing with many coal and steel cargo. Rates regarding SMXs for round trips to the Far East and NOPAC moved between $ 33-34 K/ day, as regards trips to W. C. India between $ 35-36 K/ day and for returning trips to the Atlantic Basina (BH) between $ 34-35K/ day.
In Middle East Gulf (MEG) and W. C. India the market showed increased activity for another week, noting a new growth as regards trips to the East. SMX’s rates for trips to the Far East levelled off at $ 38.5-39.5 K/ day (from MEG to W. C. India), as regards short trips between MEG-W. C. India at $ 33-34.5 K/ day and for trips to the Mediterranean at $ 28.5-29.5 K/ day.
In the Atlantic Basin and especially U. S. Gulf retreated, with rates increasing only for the other side of the Atlantic Basin. Furthermore, a number of vessels is gathered in the area, which is going to put pressure on the market during the next days. SMX’s rates regarding transatlantic trips increased at $ 28-29 K/ day and to Asiaat $ 31-32 K/ day. In ECSA area, market illustrated a downward trend and only for trips to Mediterranean gave some bonus, while owners were hesitated regarding moving to this area. SMX’s rates for trips to S. E. Asia- China raised at $ 30.5-31.5 K/ day and as regards transatlantic trips (Mediterranean/ Continent) at $ 31-31.5 K/ day ( delivery at Recalada)
In Continent market a decreased number of cargoes was observed, while most vessels are trying to find a trip to the other side of the Atlantic Basin even in lower numbers. SMX’s rates considering round-local trips moved between $ 14-15 K/ day, as regards scrap cargo trips to the Mediterranean between $ 16.5-17.52 K/ day and to Asia between $ 26-27 K/ day. In the Mediterranean the market is experiencing a nightmare on the shadow of war. There are vessels in East Mediterranean that are looking for a cargo, even to Asia with a lower amount of money. It is claimed that an SMX for a trip from Mediterranean/ Black Sea to Asia indicative closed up at $ 20-21 K/ day (delivery at Canakkale/ Black Sea), to the other side of the Atlantic Basin at $ 12.5-13.5 K/ day and in the Mediterranean at $ 12.5-13.5 K/ day.
Considering Handies market, in Continent the market was under pressure, due to the restrictions decided for Russia. Rates of the category’s bigger vessels, regarding round trips decreased at $ 13-14 K/ day, to the Mediterranean with scrap cargo at $ 14.5-15.5 K/ day and for transatlantic trips at $ 13-14 K/ day.
Mediterranean is getting worse week by week. Most wheat traders are looking for cargo out of the Black Sea, while owners avoid Black Sea and they are trying to find cargo so they can move away from Mediterranean. Bigger vessels’ rates (past 36K tonne DWT) regarding trips in the Mediterranean moved between $ 11-12 K/ day (delivery at Canakkale), to Continent between $ 12.5-13.5 K/ day (delivery at Canakkale), to the other side of the Atlantic Basin between $ 11-12 K/ day (delivery at Canakkale) and lastly to Asia between $ 18-19 K/ day.
On the other side of the Atlantic Basin, in the U. S. Gulf market indicates positive signs, while trips to the other side of the Atlantic Basin offer a bonus. However, increased supply is expected, with vessels that are going to move from the Mediterranean and Continent. Indicative rates of the category’s bigger vessels with trips to the other side of the Atlantic Basin increased at $ 18-19K/ day and to Asia at $ 27.5—28.5K / day.
ECSA’s market presented significant variations. On one hand trips to Continent and Mediterranean remained stable and on the other hand trips to Asia retreated. A positive point is that there is rather balance between supply and demand. With that given, bigger vessels’ rates from ECSA’ area as regards transatlantic trips (Continent-Mediterranean) moved between $ 25-26 K/ day and to Asia between $ 28-29K / day.
In Asia, all routes kept on gaining ground day by day. Fascinating is the fact that bigger rates are noted regarding trips to the Atlantic Basin, since owners prefer to stay in this area. Australia, Indonesia, W. C. India and MEG are offering plenty of choices to few owners (concerning the existing demand), that embrace the opportunity to achieve better deals. Category’s bigger vessels rates as regards round trips to the Far East and NOPA closed up to $ 38-39K/ day, from S. E. Asia to China at $ 39.5-40.5 K/ day and from W. C. India to China at $ 31.5-32.5 K/ day.

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