www.TheSeaNation.gr

A new growth was recorded regarding dry bulk cargo market. Asia contained undiminished interest while Atlantic moved positively, despite the general uncertainty due to war and sanctions. The Mediterranean and Continent presented an increase as regards smaller sized vessels, since charterers are trying to provide motivation to owners in order to move that way. Capes increased 63.7%, Kamsarmaxes 14.4%, Supramaxes +13.7% and Handies +7.3% compared to last week. Given that, BDI presented a 570 credit growth (+26.5%) and closed up at 2718 credits on Friday 11th of March.
Lets now see more specifically, how the dry bulk cargo market moved last week per vessel’s size, starting off with Capes. In Asia, significant demand of Continent for alternative sources of energy, supported carbon market, mainly from East Australia. With that given, returning trips (to the Atlantic) noted significant weekly growth. Freights’ levels regarding route Australia-China (C5) closed up at $ 11.91 / tn, at the end of the week.
The Atlantic was considerably active in North and South with many new coal and iron ore cargo. With that being said, increase was highlighted, for transatlantic trips as much as for trips to Asia, despite the absence of the Black Sea. The environment remained considerably unstable and there is not room for optimism, since fuel price is crushing profit margins. Friday’s freights reached for trips from Brazil to China up to $ 30.78 / tn (for route C3), while rates from Continent to Asia closed up at $ 41K/ day (for route C9) and for transatlantic round trips at $ 23.1K/ day (for route C8).
As regards Kamsarmaxes, in the Atlantic Basin alternative sources of wheat are being searched, besides that from Ukraine. North Atlantic’s indexes (P1 and P2) presented weekly growth despite the decreased volume of bookings at the end of the week. The picture in the South was alike. At the beginning of the week there was considerable activity with many transatlantic cargos, while at the end of the week rhythm was reduced. Indicative rates for trips from E. Coast of South America (ECSA) to the Far East increased at $ 52-53K/ day (delivery at Asia) and to Mediterranean-Continent at $ 44.5-46.5 K/ day (delivery at ECSA) and from the U. S. Gulf and Nort Coast of South America to Asia at $ 52-54 K/ day.
On the other side, in Asia carbon market was staring. Chinese production remained on high levels, while W. C. India imports from Russia are higher after 2020. With that given, increased indexes were observed regarding Asia basin in total. Rates for round trips to Australia-Far East moved between $ 37-40 K/ day.
Regarding Supramaxes-Ultramaxes in S. E. Asia, the market remained on the first place. Coal cargo further enhanced the market and rates surpassed 45K reaching 50K as well. SMX’s rates regarding trips between S. E. Asia and Far East levelled off at $ 47-48.5K/ day. Northern, in Far East the market gained ground for another week. All routes birthed on higher levels, while trips to the Atlantic Basin are breaking records. SMX’s rates as regards round trips to the Far East and NOPAC moved between $ 37.5-39K/ day, as regards trips to W. C. India between $ 39-40 K/ day and for returning trips in Atlantic Basin (BH) between $ 45-46.5 K/ day
In Middle East Gulf (M.E.G.) and W. C. India the market kept on showing an upward trend. However, the number of vessels that is moved in the area from the Black Sea has been increased. We are waiting to see how this will affect the market in the period ahead. SMX’s rates regarding trips to Far East increased at $ 39.5-40.5K/ day (from M.E.G. – W. C. India), as regards short trips between M.E.G.- W. C. India at $ 37-38 K/ day and for trips to the Mediterranean at $ 43.5-44.5 K/ day.
In the Atlantic Basin and especially U. S. Gulf proceeded with increases, while petcoke and coal cargo increased and supplied capacity remained on lower levels. SMX’s rates regarding transatlantic trips levelled off at $ 34-35K/ day and to Asia remained at $ 31-32 K/ day. In ECSA area the market illustrated improvements, mainly due to increased alongshore cargo. Furthermore, transatlantic trips continued paying premium. SMX’s rates as regards trips to S. E. Asia – China increased at $ 32-33 K/ day and as regards transatlantic trips (Mediterranean/Continent) increased at $ 35-36K/ day (delivery at Recalada)
Continent’s market continued without significant changes. Activity was limited and only trips to Mediterranean showed an upward trend, although owners seemed hesitated about moving in this area. SMX’s rates for round-local trips moved between $ 14-15K/ day, regarding trips with scrap cargo to Mediterranean between $ 19-20 k/ day and to Asia between $ 23-24 K/ day. In the Mediterranean the market improved, despite the general negative environment. The main cause of this image is the part absorbance of available vessels from booking of the Persian (gulf?) and the Red Sea. Indicative it is reported that an SMX for a trip from the Mediterranean/ Black Sea to Asia were closed up at $ 24-25 K/ day (delivery at Canakkale/ Black Sea), to the other side of the Atlantic Basin at $ 13-14 K/ day and in the Mediterranean at $ 16.5-17.5 K/ day.
Regarding Handies market, in Continent the market presented considerable variations, while in the uncertainty environment that odor regarding sanctions, many owners are avoiding booking cargo, unless they are completely sure that is not connected to any sanctions. Cargo that have not limits are under pressure while for the rest growth is observed. Rates for the category’s bigger vessels, regarding round trips levelled off at $ 16-17 K/ day, to the Mediterranean with scrap cargo at $ 16.5-17.5 K/ day and for transatlantic trips retreated at $ 12-13 K/ day.
Mediterranean remained under the war’s shadow. Owners are refusing to go in the Black Sea and if we could find a positive point, this is the absorbance of a part of capacity from the Persian and Red sea. Rates of the bigger vessels (past 36K tonnes DWT) and trips to Mediterranean moved between $ 17-18 K/ day (delivery at Canakkale), to Continent between $ 14.5-15.5 K/ day (delivery at Canakkale), to the other side of the Atlantic Basin between $ 16.5-17.5 K/ day (delivery at Canakkale) and to Asia between $ 13-14 K/ day.
On the other side of the Atlantic Basin, in U. S. gulf the market kept on increasing, not as much for transatlantic trips that raise was borderline but to South and East that are paying more. Indicative rates of category’s bigger vessels for trips to the other side of the Atlantic Basin raised at $ 20-21 K/ day and to Asia dropped at $ 20.5-21.5 K/ day.
ECSA’s market presented satisfactory activity and cargo that boosted rates higher. It is noteworthy that many owners preferred cargo with destination in Asia and to the other side of the Atlantic Basin. With that given, bigger vessel’s rates from ECSA area regarding transatlantic trips (Continent-Mediterranean) moved between $31-32K/ day and to Asia between $ 28.5-29.5 K/ day.
In Asia, all areas remained impressive, with rates rising day by day. Owners prefer to stay in the area and it is proved by the fact that rates regarding trips to the Atlantic basin are on unusual higher levels. The Persian Gulf and S. E. Asia are running and the Far East is closely following. We are waiting to see when and whether ,the crisis in Mediterranean and North Continent due to war, will affect Asia as well. Category’s bigger vessels’ rates, as regards round trips to the Far East and NOPAC were closing up at $ 39.5-40.5 K/ day and from S. E. Asia to China at $ 47.5-48.5 K/ day and from W. C. India to China at $ 29.5-30.5 K/ day.

''and don’t forget to stay safe and read our reports to pass time...''