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Capes moved positively while the smaller sizes note a drop at all areas. Specifically, capes increased by 3.9%, Kamsarmaxes -6.5%, Supramaxes -3.3% and Handies -3.2%, compared to the previous week. With that given BDI presented a drop of 48 credts (-1.8%) and closed at 2633 credits on Wednesday, the 1st of June (due to holiday/ rest days).

Lets now see more specifically, how the dry bulk cargo market moved last week per vessel’s size, starting off with Capes. In Asia, the market moved on better rhythms compared to the last week of May, while it seems that the increased price of iron ore enhanced exports. Therefore the majority of indexes of the area presented a weekly rise. Freights levels regarding route Australia-China (C5) on Wednesday closed at 13.64%/ tn.

In the Atlantic Basin there was a positive environment, despite the fact that activity in Brazilian ports was hypotonic. Although, that did not prevent the basic index regarding trips from Brazil to China, C3, to move higher, while transatlantic trips (C8) in the North presented an increase. Wednesday freights, regarding trips from Brazil to China, reached up to $ 32.61 / tn (for route C3), while rates from Continent to Asia closed at $ 44.56 K/ day (for route C9) and as regards transatlantic round trips at $ 22.8 K/ day (for route C8).
Considering Kamsarmaxes, the week started off with some improvement regarding cargoes’ flow, that gave hopes for better numbers in the market.

Given that, in the middle of the week we observed an increase in activity, especially in the area of the South Latin America. Indicatively, rates for trips from East Coast of South America (ECSA) to the Far East reached up to $ 27-29 K/ day (delivery at Asia), from the U. S. Gulf to Asia at $ 38-40 K/ day (delivery at Continent) and regarding round transatlantic trips through the U. S. Gulf and N. Coast of S. America at $ 23.5-25 K/ day.

On the other hand, in Asia in the starting of the week we observed a change in the environment of the market, while more cargoes are expected. Therefore, owners were encouraged, asking for higher freights. The rest days of the week passed with the same rhythm with owners pressuring for higher numbers and charterers following. Rates regarding round trips to Australia- Far East moved between $ 21-23.5 K/ day.

Regarding Supramaxes-Ultramaxes in S. E. Asia, lack of coal cargoes kept the freight market on the lower levels. SMX’s rates regarding trips between S. E. Asia and the Far East fell at $ 26-27.5 K/ day. Northern, in the Far East the market was calm, since cargoes’ flow was limited and at the end of the week there was holiday at Chine. SMX’s rates regarding round trips to NOPAC moved between $ 35-36.5 K/ day, as regards trips to W. C. India at $ 30-31.5 K/ day and for returning trips from the Atlantic Basin (BH) at $ 33.5-35 K/ day.

In the Middle East Gulf and W. C. India the market lost ground this week as well. Significant interest were presenting trips to Atlantic that are offering premium, while owners seemed not to want to move there. SMX’s rates regarding trips to the Far East decreased at $ 28-29.5 K/ day (from Middle East Gulf [MEG] – W. C. India), regarding short trips between MEG – W. C. India at $ 32.5-34 K/ day and regarding trips to Mediterranean at $ 31.5-32.5 K/ day.

In the Atlantic Basin and especially in the U. S. Gul the week presented decreased activity due to the holidays at the starting and the end of the week. SMX’s rates regarding transatlantic trips retreated at $ 37-38.5 K/ day and to Asia at $ 36.5-37.5 K/ day. ECSA area kept on retreating, while the increase of offered capacity in E. Africa enhanced the competition, while more pressure was putted from adjacent sectors. SMX’s rates regarding trips to S. E. Asia-China retreated at $ 35-36 K/ day and regarding transatlantic trips (Mediterranean/ Continent) at $ 37-38.5 K/ day.

Continent’s market maintained its downward trend. Lack of cargoes in combination with the maintenance of supply on the same levels lead to lower freights.

SMX’s rates regarding round-local trips moved between $ 21.5-22.5 K/ day and to Asia between $ 25-26 K/ day. In the Mediterranean the market remained under pressure, since demand was not enough to cover the available vessels of the area. Moreover, charterers kept a wait and see approach pressuring the market even more. Indicatively, it is claimed that an SMX for a trip from Mediterranean to Asia closed at $ 24-25 K/ day (delivery at Canakkale), to the other side of the Atlantic at $ 18-19.5 K/ day and in the Mediterranean at $ 20.5-21.5 K/ day.

Considering Handies market, Continent presented a recession. Many owners with the lack of cargoes are considering take the risk of a job at Russia. Rates regarding bigger vessels of the category, regarding round trips dropped at $ 20.5-21.5 K/ day, to the Mediterranean with scrap cargo at $ 19.5-20.5 K/ day and for transatlantic trips at $ 15-16.5 K/ day.

In the Mediterranean the market retreated since the demand was limited. Furthermore, premium was decreased regarding job form Russian ports. Rates regarding bigger vessels (past 36 K tonne DWT) regarding trips in the Mediterranean moved between $ 19-20 K/ day (delivery at Canakkale), to the Continent between $ 20-21 K/ day (delivery at Canakkale), to the other side of the Atlantic between $ 19-20.5 K/ day (delivery at Canakkale) and to Asia at $ 23.5-24.5 K/ day.

On the other side of the Atlantic, U. S. Gulf was burdened with more vessels leading freights to a new drop. Indicatively, rates of the bigger vessels of the category regarding trips to the other side of the Atlantic decreased at $ 20.5-22 K/ day and to Asia at $ 25.5-26.5 K/ day.
ECSA’s market moved in lower levels, with few cargoes being in the market and charterers using their own vessels. Given that, rates of the bigger vessels of ECSA area and transatlantic trips (Conrtinent-Mediterranean) moved between $ 28.5-30 K/ day and to Asia at $ 31-32.5 K/ day.

In Asia, individual markets presented pressured, with North Pacific showing the biggest losses. The combination of lacking cargoes and increased supplied capacity, naturally dropped indexes and freights. In S. E. Asia, there was a dropping image but quite better, since the small number of vessels maintained the market. In W. C. India and the Middle East Gulf, the image was similar, with commercial restrictions of W. C. India affecting negatively.

Rates of the bigger vessels of the category regarding round trips to the Far East and NOPAC closed at $ 27-29 K/ day, from the S. E. Asia to China at $ 25-26 K/ day and from W. C. India to China at $ 26.5-27.5 K/ day.

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