Δευ07042022

Last updateΔευ, 04 Ιουλ 2022 2pm

News in English

Raise of BDI, Capes stood out

bulker vessel 0098

Iakovos (Jack) Archontakis
Commercial Manager TMC MARITIME CO.

Fotios-Evangelos Karlis
Chartering Department TMC MARITIME CO.

The dry bulk cargo market continued with a raise, with Capes leading the raise of the general index and the rest sizes followed. Specifically, Capes increased by 36,4%, Kamsarmaxes +3,4%, Supramaxes +0,8%, and Handies +2%, compared to last week. With that given, BDI presented an increase of 386vcredits (+14,2%) and closed at 3104 credits on Friday, the 13th of May.
Let’s now see more specifically, how the dry bulk cargo market moved as per vessel’s size, starting off with Capes. In Asia, the market proceeded enhanced. There are many cargoes from Australia to the North, while Chinese charterers compete in order to find a vessel. Thus many owners preferred to stay at the area. Freight levels regarding route Australia- China (C5) closed at $ 15,1 / tn at the end of the week.
In the Atlantic Basin, Brazil and W. Africa lead the market to higher levels. List of cargo is long, absorbing many of the moving vessels in the area. This image of the South pushed upwards North Atlantic as well, with many vessels moving southern. Thus, we saw higher numbers, mainly regarding trips to Asia. Freights on Friday reached for trips from Brazil to China up to $ 34,64 / tn (for route C3), while rates from Continent to Asia close at $ 49,18 K / day (for route C9) and transatlantic round trips at $ 23,25 K / day (for route C8)
As regards Kamsarmaxes, in the Atlantic Basin during the first days of the week, U. S. Gulf was more active than the South. Furthermore, the market retreated since charterers proffered to stay there. Moreover, in Brazil vessels’ Increase lead rates to fall. Indicatively, rates regarding trips from the East Coast of South America (ECSA) to the far east reached up to $ 29-31K / day (delivery at Asia), from the U. S. Gulf to Asia up to $ 23-25 K / day and for round transatlantic trips through U. S. Gulf and North Coast off South at $ 28-30 K / day.
On the other hand, in Asia the market started off the week with many cargoes from Indonesia and movement from Australia. As the week was passing more bookings were noted on higher levels. At the end of the week, activity was further improved in all areas individually. Rates considering round trips to Australia – Far East moved between $ 29-30 K / day.
As regards Supramaxes - Ultramaxes in South East Asia, the market continued without significant changes. We might saw more cargoes from Australia, but the offered capacity was increased. SMX’s rates for trips between S. E. Asia and the Far East remained at $ 27,5-29 K / day. Northern, in the Far East the market seems to have a dynamic return from holidays. Cargoes to the Atlantic stood out, however the market was boosted with steel cargoes. SMX’s rates regarding round trips to the Far East and NOPAC moved between $ 29-30 K / day, for trips to W. C. India between $33-34 K / day and the returning trips to the Atlantic Basin (BH) between $39-40 K / day.
In the Middle East Gulf (MEG) and W. C. India the market continued with improved freights, while demand remained significantly strong with many cargoes of wheat and fertilizer. Charterers rushed to meet their needs before the period of monsoons. SMX’s rates regarding trips to the far east remained at $ 37-38 K/ day (from MEG to W.C. India), regarding short trips between MEG-W.C. India at $ 33,5-34,5 K / day and as regards trips to the Mediterranean at $ 33,5-34,5 K / day.
In the Atlantic Basin and especially in the U.S. Gulf the week started off dynamically but then retreated, with charterers keeping a wait-and-see approach, pressuring rates. SMX’s rates regarding transatlantic trips dropped at $ 41-42 K / day and to Asia at $ 39-40 K/ day. In ECSA area the market presented significant activity. Demand was increased while it was enhanced by many cargoes from S. Africa as well. SMX’s rates regarding trips to S. E. Asia – China leveled off at $ 44-45 K / day and for transatlantic trips (Mediterranean/ Continent) at $ 41-42 K / day.
Continent’s market remained on the same levels. We observed more new cargoes; however, the increase of vessels’ number did not allow rates to raise. SMX's rates as regards round-local trips moved between $ 26-27 K / day, regarding trips with scrap cargo to the Mediterranean between $ 25.5-26.5 K / day and to Asia between $ 29-30 K / day. In the Mediterranean the market presented an improved environment with demand being enhanced with more industrial cargo, but that was not caught on the rates, that remained stable. Indicatively, it is claimed that a SMX for a trip from the Mediterranean to Asia closed at $ 25-26 K / day (delivered at Canakkale), to the other side of the Atlantic at $ 21-22 K/ day and in the Mediterranean at $ 21-22 K / day.
Considering the Handies market, in Continent the market presented various trends with trips to the other side of the Atlantic Basin not being preferred by owners, while trips to Africa and Asia are presenting freight increases. Rates of the category’s bigger vessels, regarding round trips raised at $ 23,5-24,5 K / day, to the Mediterranean with scrap cargo at $ 22.5-23.5 K / day and for transatlantic trips retreated at $ 17-18 K / day.
The Mediterranean moved with higher speed, presenting improvements regarding all routes. Owners’ that considering trips from Russian ports number has increased expecting that to affect premium regarding these routes. Rates of the bigger vessels (past 36 k tone DWT) regarding trips in the Mediterranean moved between $ 22-23 K / day (delivery at Canakkale), to Continent between $22-23 K / day (delivery at Canakkale), to the other side of the Atlantic Basin between $20-21.5 K / day (delivery at Canakkale) and to Asia between $ 29-30 K / day.
To the other side of the Atlantic Basin, in the U.S. Gulf the market presented corrections regarding all routes, compared to the previous week. Given that offered vessels remain high, we are expecting that the market will move with the same pattern as the last week. Indicatively, rates if the bigger vessels of the category regarding trips to the other side of the Atlantic Basin, decreased at $30,5-31.5 K / day and to Asia at $ 31.5-32,5 K / day.
The ECSA market was under pressure, with activity and demand not bring enough, so that all available vessels to be rejected. W. Africa and S. America routes stood out. Given that, rates of bigger vessels of the ECSA area regarding transatlantic trips (Continent/ Mediterranean) moved between $ 40-41.5 k / day and to Asia between $ 44-45,5 K / day.
In Asia the market presented definitely a better image and rates moved at 30 K or more in all sub-areas. In MEG and W. C. India there is intense activity before the monsoons period. In the Far East arrhythmias on the port operation due to the pandemic has vessel’s offer in low levels, since they are blocked in some Chinese port. In S. E. Asia, and Australia the flow of cargo is satisfactory and one possible drop of vessels’ number will lead on increased rates. Rates of the bigger vessels of the category regarding round trips to the Far East and NOPAC closed at $ 32-33.5 K / day, from S. E. Asia at $ 27-28 K / day and from W. C. India to China at $ 26.5-27.5 K / day.

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

Περισσότερα νέα

News In English

ΕΠΙΚΟΙΝΩΝΙΑ

Εγγραφή NewsLetter