www.TheSeaNation.gr

Dry bulk cargo market is dropping. Asia and East Coast of America (ECSA) kept freights high regarding small sizes and Mediterranean provided premium while trying to attract the few vessels. On the other hand, bigger vessels retreated, thus capes retreated 2.7%, Kamsarmaxes -9.8%, Supramaxes -0.6% and Handies +7.4% compared to last week. With that given, BDI presented a 113 credit decline (-4.2%) and closed up at 2605 credits on Friday, 18th of March.
Let s see more specifically, how the market of dry bulk cargo moved last week as per vessel’s size, starting of with capes. In Asia, the market presented variations during the week in the limits of $12 / tn and finally closed with a positive sign on Friday (compared to last week). However in the area, round trips to the Pacific stand out, that noted weekly increase almost at 23%. Freights level regarding route Australia-China (C5) closed up at $12.24/ tn at the end of the week.
Retreat was observed in the Atlantic Basin regarding trips from Brazil and in the North as well. Imports of iron ore from Brazil, continued to decline for a second week, decreasing the demand for trips to Asia as well. In the North, the activity moved on low levels, leading indexes C8 and C9 to weekly losses, that reached 12%. Freights on Friday reached for trips from Brazil to China $28.14/ tn (for route C3), while rates from Continent to Asia closed up at $36.25 K/ day (for route C9) and transatlantic round trips at $ 20.175 K/ day (for route C8).
As regards Kamsarmaxes, in the North Atlantic the market started the week numbly. As the days were passing by, demand was renewed and we saw more bookings and in that rhythms the week went. Cargo to the Baltic and North sea kept on paying premium. Indicatively, rates regarding trips from ECSA to the Far East increased at $ 48-49 K/ day and to Mediterranean-Continent at $ 18.5-20K/ day (delivery at Mediterranean) and from U. S. Gulf and North Coast of South America to Continent $ 21-23 K/ day.
On the other hand, in Asia the most charterers maintained a wait and see attitude on the start of the week. Moreover, demand was decreased while coal cargo were absent from Indonesia to China. At the end of the week, no significant changes were observed, with cargo volume being limited. Nevertheless, generally optimism prevails for the next days. Rates regarding round trips in Australia-Far East moved between $ 24.5-26 K/ day.
Considering Supramaxes-Ultramaxes in South East Asia, market showed an downward trend during the second half of the week, while coal cargo from Indonesia were reduced. SMX’s rates regarding trips between S. E. Asia and the Far East reduced at $ 41-42.5K/ day. Northern, in the Far East the market retreated at the beginning of the week and was maintained on these levels, despite the increased activity. SMX’s rates for round trips to the Far East and NOPAC moved between $ 34.5-36K/ day, regarding trips to W. C. India between $ 37.5-38.5 K/ day and for returning trips to the Atlantic Basina (BH) $ 39-40 K/ day.
In Middle East Gulf (MEG) and W. C. India the market presented signs of fatigue, even though there are mineral cargo to Bangladesh and trips to Atlantic Basin keep on giving a premium. SMX’s rates regarding trips to the Far East decreased at $ 36-37.5 K/ day (from MEG – W. C. India), regarding short trips between MEG-W. C. India at $ 31-32.5 K/ day and for trips to Mediterranean at $ 41.5-42.5 K/ day.
In the Atlantic Basin and especially U. S. Gulf presented better numbers, mainly because of the higher demands regarding trips to the Mediterranean and Continent. Alongside the number of available vessel was limited. SMX’s rates as regards transatlantic trips decreased at $ 37-38 K/ day and to Asia were maintained at $ 31-32K/ day. In ECSA area the market presented an upward trend for trips to Asia, while demand for transatlantic trips was increased. SMX’s rates to S. E. Asia-China levelled off at $ 34.5-36 K/ day and regarding transatlantic trips (Mediterranean/Continent) at $ 43-44K/ day.
Continent’s market illustrated signs of recovery with scrap cargo being the leader. Supplied capacity remained in low levels since vessels from W. Mediterranean moved towards the other side of the Atlantic Basin. SMX’s rates regarding round-local trips moved between $ 15-16K/ day, for trips with scrap cargo to the Mediterranean between $ 20.5-21.5K/ day and to Asia between $ 23-24K/ day. In the Mediterranean, the market was further improved due to industrial cargo, clinker and cement, that covered the absence of Ukraine and Russia. Given that, the few vessels that preferred to stay at the area and not move to the East, were booked in higher levels. Indicatively, it is reported that a SMX for a trip from Mediterranean/ Black Sea to Asia were closed at $ 24-25 K/ day (delivery at Canakkale/ Black Sea), to the other side of the Atlantic Basin at $20-21K/ dat and in the Mediterranean at $ 19.5-21.5K/ day.
Handies market, in Continent the market seems to recover from the restrictions imposed. Given that, owners took advantage in their favor the trend of the market, looking for higher numbers. Rates for bigger vessels of the category, as regards round trips remained at $ 16-17K/ day, to the Mediterranean with scrap cargo at $ 16.5-17.5K/ day and for transatlantic trips raised at $ 14-15K/ day.
The Mediterranean presented low activity, with a few bookings coming to the surface. However owners that stayed in the area seemed to have the upper hand, increasing the rates as well. Bigger vessels’ rates (past 36K tonne DWT) regarding trips to the Mediterranean moved between $ 17-18K/ day (delivery at Canakkale), to Continent between $ 16.5-17.5K/ day (delivery at Canakkale), to the other side of the Atlantic Basin between $ 18.5-19.5K/ day (delivery at Canakkale) and to Asia between $ 14.5-15.5K/ day.
To the other side of the Atlantic Basin, in U. S. Gulf the market presented an upward trend in all directions, with many new cargo in the market. Indicatively, rates for bigger vessels of the category, regarding trips to the other side of the Atlantic Basin increased at $ 25-26K/ day and to Asia at $ 22.5-23.5K/ day.
ECSA’s market speed up at the end of the week reaching higher levels day by day. A guide to this race was the transatlantic trips. With that given, rates of the bigger vessels of the category from ECSA market as regards transatlantic rates (Continent-Mediterranean) moved between $ 43-44K/ day and to Asia between $ 40-41K/ day.
In Asia, owners prefer to stay in the area and that is why rates for trips to the Atlantic Basin remain high compared to the rest routes. Also, trips from cis were paying bonus, while many owners are afraid of any sanctions. In W. C. India and MEG market was stabilized while moving vessels from the Mediterranean restrained rates and enhanced competition of owners. Rates of bigger vessels of the category regarding round trips to the Far East and NOPAC were booked at $ 38.5-40K/ day, from S. E. Asia to Chine at $ 40.5-41.5K/ day and from W. C. India to China at $ 29.5-30.5K/ day.

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