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The dry bulk cargo market presented growth the past week. Capes and Panamaxes moved positively, while the smaller sizes would decrease in the majority of routes. Specifically, capes raised by 26%, kamsarmaxes +8,9%, supramaxes -1,1% and handies -5.2%, compared to last week. With that given, BDI improved by 258 credits (-11,1%) and closed at 2578 credits on Friday, the 17th of June.
Let’s now see more specifically, how the dry bulk cargo market moved last week as per vessel’s size, starting off with capes. In Asia the limitation of available vessels at the end of the week and the increased cargoes from W. Australia increased freights in the main route Australia-China (C5) by a dollar compared to last week, while the weekly raise regarding round trips to the Pacific in the Pacific approached 30%. Freight levels regarding route Australia-China (C5) closed on Friday at $13.5 /tn.
In the Atlantic Basin few bookings were reported, but the decreased price of fuel supported indexes to show an upward trend compared to last Friday, with the most significant raise on round transatlantic trips (c8) that surpassed 57%, compared to the 10th of June. Brazil showed an upward trend with support of W. Africa’s cargoes that absorb many moving vessels. Wednesday’s freights regarding trips from Brazil to China reached up to $33.15/ tn (for route C3), while rates from the Continent to Asia closed at $ 47,61 K/ day (for route C9) and for transatlantic round trips at $ 29,9 K/ day (for the route C8).
Considering Kamsarmaxes, in the Atlantic Basin the week started off calmly, as much in the North, as in South. Moreover the image was improved. North Atlantic presented increases, mainly regarding transatlantic trips. ECSA area presented more movement and charterers were discussing vessels that were moving from Asia. During the last days the market maintained its good path with further increase in the North, while in Latin America freights remained on the same levels of the last days. Indicatively rates regarding trips from East Coast of South America (ECSA) to the Far East reached up to $26-27,5 K/day (delivery at Asia), from the U. S. Gulf and North Coast of South America to Asia at $32-33 K/ day (delivery in Continent) and round transatlantic trips through the U. S. Gulf and SCSA at $20-22K / day.
On the other hand, Asia started the week off with significant expectations and some new cargoes. As the days were passing charterers were more active. North Pacific was calm, but cargoes from Australia and the improved image of S. Atlantic increased freights. The week continued at the same pace, despite the increase of capacity in Indonesia. Rates regarding round trips to Australia-Far East moved between $21-23.5 K/ day.
As regards supramaxes-ultramaxes in S. E. Asia improvements were observed with increased volume of coal cargo. Thus, many charterers started to look vessels from S. China as well. SMX’s rates regarding trips between S. E. Asia and the Far East levelled off at $26-27.5 K/ day. Northern, in the Far East the market moved even lower, with demand remaining hypotonic. SMX’s rates as regards round trips to NOPAC moved between $28-29 K/ day, for trips to W. C. India between $28,5-29,5 K/ day and regarding returning trips to the Atlantic Basin (BH) between $29,5-30,5 K/day.
In the Middle East Gulf and W. C. India the market remained under pressure with some local and to E. Africa trips. Moreover, some new cargo from W. C. India were observed. SMX’s rates regarding trips to the Far East remained at $29-29,5 K/ day (from Middle East Gulf [MEG] to W. C. India ), for short trips between MEG – W. C. India at $26,5-27,5 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 kept on showing an downward trend with decreased activity. However according to up to date facts and expected cargoes, we are expecting July to be warm. SMX’s rates regarding transatlantic trips retreated at $25-26K / day and to Asia at $27-28K / day. ECSA area presented some stabilization signs, while improvement was observed regarding cargo’s flow to the Mediterranean. SMX’s rates regarding trips from S. E. Asia- China increased at $35-36 K/ day and for transatlantic tripa (Mediterranean/ Continent) at $37-38,5 K/ day.
Continent’s market retreated. Demand remained on the lower levels compared to supply of capacity. Only trips to the other side of the Atlantic Basin restrain the fall. SMX’s rates regarding round-local trips moved between $16-17 K/ day, with scrap cargo to the Mediterranean between $17-28 K/ day and to Asia between $20-21.5 K/ day. In the Mediterranean the market moved on lower levels compared to last week. Many owners by seeing the Atlantic improvements preferred to move there. Indicatively it is claimed that an SMX for a trip from the Mediterranean to Asia closed at $21-22 K/ day (delivery at Canakkale), to the other side of the Atlantic Basin at $17-18 K/ day and in the Mediterranean at $17,5-18,5 K/ day.
In handies market, Continent remained calm with few scrap carhoes mainly for July to make their appearance. Rates for the bigger vessels of the category, regarding round trips dropped at $16,5-17,5 K/ day, to the Mediterranean with scrap cargo at $16-17,5 K/ day and regarding transatlantic trip at $14,5-15,5 K/ day.
In the Mediterranean the market started off without any considerable activity but then the image improved, but some bookings were done on the lower levels than in the last week. Bigger vessels rates (past 36K tonne DWT) regarding trips in the Mediterranean moved between $18-29 K/ day (delivery at Canakkale), to the Continent between $ 16,5-17,5 K/ day (delivery at Canakkale), to the other side of the Atlantic Basin beteeen $19-20 K/ day (delivery at Canakkale) and to Asia between $22,5-23,5 K/ day.
On the other side of the Atlantic Basin, the U. S. Gulf retained its downward trend and only transatlantic trips presented some interest. Indicatively, rates of the bigger vessels of the category regarding trips to the other side of the Atlantic Basin decreased at $17,5-18,5 K/ day and to Asia at $21,5-22,5 K/ day.
ECSA’s market presented recovery signs mainly during the second half of the week that more cargoes made their appearance for the end of the month and the start of the next one. Thus, rates of the bigger vessels from ECSA area regarding transatlantic trips (Continent- Mediterranean) moved between $26,5-27,5 K/ day and to Asia between $34-35 K / day.
In Asia, the market presented a recession this week as well. Only the Middle East Gulf remained on the same levels mainly due to steel export, while supplied capacity was limited as well. Specifically, S. E. Asia, Australia and China kept on dropping since demand could not cover the supply. Rates of the bigger vessels of the category regarding round trips to the Far East and NOPAC closed at $25,5-27 K/ day, from S. E. Asia to China at $24,5-15,5 K/ day and from W. C. India to China at $27,5-28,5 K/ day.

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