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The dry bulk cargo market noted a borderline drop. Capes retreated while smaller sizes presented improvements. Especially for Handies, Asia showed a downward trend, while Atlantic Basin kept its positive route. To be more specific, capes retreated 27.6%, while handies +7.2% compared to last week. With that given, BDI presented a drop of 61 credits (-2.34%) and closed up at 2544 credits on Friday, 25th of March.
Let’s now see more specifically how the dry bulk cargo market move last week per vessel’s size, starting off with Capes. In Asia, the market presented a satisfactory activity pushing freights up. However round trips to the other side of the Pacific are losing ground. Freight levels regarding route Australia-China (C5) closed at 11.64 $/tn at the end of the week.
In the Atlantic we saw many vessels in this size trying to close smaller size cargo, since there was a lack of new cargo. In Brazil the market affected positively from the miners entrance. Friday’s freights regarding trips from Brazil to China reached up to $ 26.35 / tn (for the route C3), while rates from Continent to Asia closed up at $ 30.9K/ day (for the route C9) and for transatlantic round trips at $ 11.875 K/ day (for the route C8).
Regarding Kamsarmaxes, in South Atlantic the market started off with the best signs since many transatlantic cargoes were presented. After the first days of the week, many cargoes to Asia were added as well. Latin America started off numbly while most owners were hesitant to proceed with a booking. At the end of the week both areas had limited activity. Indicatively, rates for trips from S. E. Coast of S. America (ECSA) to the Far East reached up to $ 30-32 K/ day and to the other side of the Atlantic Basina at $ 53-54.5K/ day (delivery at Mediterranean) and round transatlantic trips through U. S. Gulf at $ 31-33K/ day.
On the other hand, in Asia the week started off with many conversations without any bookings however. During the second half of the week the image of the market improved, along with more wheat and coal cargo, absorbing a big part of supplied capacity. At the last days of the week, the positive environment was maintained even though the booking volume was limited. Rates regarding round trips to Australia-Far East moved between $ 28-30K/ day.
Considering Supramaxes-Ultramaxes in S. E. Asia, the market continued positively, due to the stable flow of coal cargo. Interest for time chartering was increased. SMX’s rates for trips between S. E. Asia and the Far East fell at $ 41-42.5K/ day. Northern, in the Far East the market presented intense variations during the week. However, some cargo that appeared in the middle of the week enhanced the general image. Rates of SMXs as regards round trips to the Far East and NOPAC moved between $ 34.5-36K/ day, regarding trips to W. C. India between $ 38.5-39.5K/ day and for returning trips to the Atlantic Basin (BH) between $ 42-44K/ day.
In the Middle East Gulf (MEG) and W. C. India the market was under pressure, with rates retreating. The biggest interest was observed regarding trips to Bangladesh. SMX’s rates for trips to the Far East dropped at $ 33-34.5K/ day (from MEG to W. C. India), for short trips between MEG- W. C. India $ 28.5-30K/ day and regarding tris to the Mediterranean at $ 35.5-36.5K/ day.
In the Atlantic Basin and especially U. S. Gulf generally remained at the same levels without any significant changes. However, increased number of vessels is observed compared to the existing demand. SMX’s rates for transatlantic trips dropped at $ 34-35 K/ day and to Asia at $ 30-31K/ day. In ECSA area, the market continued to raise, since supplied capacity remains limited while at the end of the week cargo from W. Africa increased. SMX’s rates as regards trips from S. E. Asia-China levelled off at $ 39-40 K/ day and for transatlantic trips (Mediterranean/ Continent) at $ 50-51K/ day.
Continent’s market retained its upward trend, but demand stayed more or less at the same level without any new cargo. The positive point is the decrease of supply while many vessels chose to change area. SMX’s rates regarding round-local trips moved between $ 24-25.5K/ day, for SCRAP cargo trips to the Mediterranean between $ 24.5-26 K/ day and to Asia between $ 27-28 K/ day. In Mediterranean the market appeared to remain its upward trends mainly due to lack of vessels. Indicatively, it is reported that a SMX for a trip from the Mediterranean/ Black Sea to Asia was closing up at $ 27-28K/ day (delivery in Canakkale/ Back Sea), to the other side of the Atlantic at $ 23-24 K/ day and in the Mediterranean at $ 22.5-23.5K/ day.
As regards Handies market, in Continent the market benefited from the new cargo that appeared. Nevertheless, many owners still prefer to move to southwest, looking at the much higher numbers. Rates of the category’s bigger vessels, regarding round trips increased at $ 20-21K/ day, to the Mediterranean with SCRAP cargo at $ 21.5-22.5K/ day and for transatlantic trips at $ 18-19K/ day.
Mediterranean continued to rise. Trips to W. Africa provided premium while in higher numbers (compared to the rest routes) slept and trips to the U. S. Gulf and Continent. Rates of the bigger vessels of the category (past 36K tonne DWT) for trips in the Mediterranean moved between $ 19.5-20.5K/ day (delivery in Canakkale), to Continent between $ 20.5-21.5K/ day (delivery in Canakkale), to the other side of the Atlantic Basin at $ 20-21K/ day (delivery in Canakkale) and to Asia at $ 17-18K/ day.
On the other side of the Atlantic Basin, in U. S. Gulf the market presented further improvements. It is noteworthy that transatlantic trips moved in higher levels compared to trips to Asia because of the good image of the Pacific. Indicatively, rates of the category’s bigger vessels regarding trips to the other side of the Atlantic basin remained at $ 27-28K/ day and to Asia at $ 24-25.5K/ day.
ECSA’s market starred for another week with even more higher numbers. However bigger pressure is expected during the next days while the number of the vessels moving is the area is increasing. With that given, rates as regards the bigger vessels from ECSA area for transatlantic trips (Continent-Mediterranean) moved between $ 50-51K/ day and to Asia between $ 43-44K/ day.
In Asia, the market was affected from the decreased volume of cargo while in the individual areas increased available vessels were observed resulting in rates retreating. Rates of the bigger vessels of the category regarding round trips to the Far East and NOPAC were closing up at $ 35.5-37k/ day, from S. E. Asia to China at $ 32.5-33.5K day and from W. C. India to China at $ 29.5-30.5K. day.

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