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The dry bulk cargo market continued raising, with Capes starring in the increase of the general index and the rest sizes followed. Handies were the only exception that presented a borderline drop, due to the bad image of the Atlantic Basin. To be more specific, capes raised by 14.7%, Kamsarmaxes +3%, Supramaxes +2.3.% and Handies -0.7% compared to last week. With that given, BDI presented a raise of 240 credits (+7.8%) and closed at 3344 credits on Friday, 20th of May.
Let’s now see more specifically, how the dry bulk cargo market moved during the last week per vessel’s size, starting off with Capes. In Asia the market did not show significant variations, despite the hopeful starting of the week. Therefore, it essentially remained on the same levels with last week. Demand of vessels considering the starting of the next week that seems satisfying and we are expecting improvements on the freight market. Freight levels regarding route Australia-China (C5) closed at $ 15 / tn, at the end of the week.
In the Atlantic Basin, and especially in Brazil, the week started off numbly. However, offered capacity quickly lead to freight raise. Moreover, there was considerable movement and from S. Africa. In the North, the market seemed to be positively affected from the movement of the South and presented improvements, despite the usual volume of cargoes. Friday’s freights reached for the trips from Brazil to China at $ 38.18 / tn (for route C3), while rates from Continent to Asia closed at $ 61.7 K/ day (for route C9) and as regards transatlantic round tips at $ 32.15 K/ day (for route C8).
Considering Kamsarmaxes, in the Atlantic Basin the market started off the week well, with improvements in transatlantic and to Asia trips. By the end of the week market’s rhythms retreated and the most agreements were booked with the numbers already given from the start of the week. Indicatively, rates regarding trips from the East Coast of Latin America (ECSA) to the Far East reached up to $ 29-31 K/ day (delivery at Asia), from the U.S. Gulf to Asia at $ 31-33 K/ day (delivery at Asia) and round transatlantic trips through the U. S. Gulf and S. Coast of Latin America at $ 28-30 K/ day.
On the other hand, in Asia the market had a dynamical start and many charterers showed their intent to book a vessel. Owners with available vessels tried to keep freights on the same levels. Charterers that were not rushing to charter remained on their place waiting a possible drop of the market. Rates regarding round trips in the Australia-Far East moved between $ 28.5-30.5 K/ day.
Considering Supramaxes-Ultramaxes in S. E. Asia the market gained ground. The competition between charterers was intense regarding founding an immediate available vessel. Thus, rates improved compared to the last period. However, Indonesian cargoes will have to increase in order to remain this upward trend. SMX’s rates regarding trips between S. E. Asia and the Far East remained at $ 31.5-33 K/ day. Northern, in the Far East the market moved positively, mainly for trips to Indonesia and Atlantic Basin, carrying away all rest routes as wrll. SMX’s rates for round trips to the Far East and NOPAC moved between $ 30-31.5 K/ day, regarding trips to W. C. India at $ 33-34 K/ day and for the returning trips to the Atlantic Basin (BH) at $ 39-40 K/ day.
In the Middle East Gulf (MEG) and W. C. India the market maintained the intense movement, with cargo flow being stable and charterers rushing to be covered before the period of the monsoons. SMX’s rates regarding trips to the Far East remained at $ 37-38 K/ day ( from MEG-W. C. India), regarding short trips between MEG – W. C. India at $ 33.5-34.5 K. day and regarding trips to the Mediterranean at $ 33.5-34.5 K/ day.
In the Atlantic Basin and especially in the U. S. Gulf the market showed an downward trend. Number of the available vessel’s from the other side of the Atlantic kept on raising, while vessels that moved to the other side of the Atlantic were added. SMX’s rates regarding transatlantic trips retreated at $ 40-41 K/ day and to Asia at $ 37.5-38.5 K/ day. In the ECSA area the market was considerable active and along with less vessel’s in the area, rates increased. SMX’s rates regarding trips to S. E. Asia -China levelled off at $ 44-45 K/ day and for transatlantic trips (Mediterranean/ Continent) at $ 44-45.5 K/ day.
Continent’s market remained calm. It seems that charterer’s focus were directed to the Copenhagen’s event, so we did not see many vessels. SMX’s rates regarding round-local trips moved between $ 25-26 K/ day, for trips with scrap cargo to the Mediterranean at $ 25.5-26.5 K/ day and to Asia at $ 28-29 K/ day. In the Mediterranean the market had a good week start with some new cargoes; however afterwards was more calm. Given that, rates remained on the same levels. Indicatively, it is claimed that an SMX for a trips from the Mediterranean to Asia was closing at $ 25-26 K/ day (delivery at Canakkale), to the other side of the Atlantic at $ 21-22.5 K/ day and to the other side of the Atlantic at $ 21-22.5 K/ day and in the Mediterranean at $ 22.5-23.5 K. day.
In Handies market, in Continent the market presented drops regarding all routes. Owners and charterers were absent from their offices in order to be at Copenhagen. Bigger vessel’s of the category rates, regarding round trips fell at $ 22.5-23.5 K/ day, to the Mediterranean with scrap cargo at $ 21.5-22.5 K/ day and regarding transatlantic trips remained at $ 17-18 K/ day.
In the Mediterranean calmness was observed, with the absence of new cargoes being sensed. Bigger vessel’s rates (past 36 K tonne DWT) regarding trips to the Mediterranean moved between $ 23-24 K/ day (delivery at Canakkale), to the Continent at $ 22-23 K/ day (delivery at Canakkale), to the other side of the Atlantic at $ 20-21.5 K/ day (delivery at Canakkale) and to Asia at $ 22-23 K/ day.
To the other side of the Atlantic, in the U. S. Gulf the market presented intense drop of rates. Only transatlantic trips were on the same levels, giving motive to owners that did not wish to moved this way. Indicatively, rates of the bigger vessels of the category regarding trips to the other side of the Atlantic decreased at $ 29.5-30.5 K/ day and in Asia at $ 30.5-31.5 K/ day.
ECSA’s market recession was observed, with most cargoes for May being covered. Given that, bigger vessels rates from ECSA area regarding transatlantic trips (Continent-Mediterranean) moved between $ 39-40.5 K/ day and to Asia at $ 43-44.5 K/ day.
In Asia, the market retained its dynamic. Lack of offered capacity, maintained rates’ average higher than the respective ones of Atlantic Basin. Sub-market of MEG and W. C. India considerably stood out, where raise was more intense. Rates of the bigger vessels of the category regarding round trips in the Far East and NOPAC closed at $ 32-335 K/ day, from S. E. Asia to China at $ 27-28 K/ day and from W. C. India to China at $ 26.5-27.5 K/ day.

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