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We saw a borderline raise regarding the dry bulk cargo market the past week. Capes were the only rising factor with a significant increase, mainly due to Asia, while rest of sizes retreated. To be more specific, caoes raised by 78%, Kamsarmaxes by -7,4%, Supramaxes -13,2% and Handies by -6,8%, compared to last week. With that given, BDI increased just by 4 credits (+0,37%) and closed on 1086 credits on Friday, the second of September.
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 market presented intense increases mainly with the improvement of cargo flow from China and from W. Australia during the last days of the week as well. Levels of the index in route Australia-China (C5) closed at $8,89/ tn.
In the Atlantic Basin owners kept on competing intensively in order to find some cargo for the vessels. Thus, as much transatlantic trips as trips to Asia presented new drops, compared to last week. Only Brazil presented progress at the end of the week. Indexes on Friday reached for trips from Brazil to China $19,67/ tn (for route C3), while rates from Continent to Asia closed at $18,38 K / day (for route C9) and as regards transatlantic round trips at $2,37 K / day (for route C8).
Considering Kamsarmaxes, in the Atlantic Basin there was some movement with some rumours of the market claiming that some cargoes have been booked from the North and South Atlantic to the Far East. However, this week bookings reported were on even lower levels compared to the last period of time. Indicatively, rates regarding trips from the East Coast of South America (ECSA) to the Far East reached up to $21,5-23,5 K / day (delivery at ECSA) and to Continent up to $16,5-18,5 K / day (delivery at ECSA).
On the other hand, in Asia, Australia and Indonesia we could say that were absent, supplying the market with few new cargoes. Rates regarding round trips to Australia – Far East moved between $16,5-18,5 K / day (delivery at ECSA).
Regarding Supramaxes – Ultramaxes in S. E. Asia there were cargoes at the begining of the week from Indonesia but there were not enough to revert the negative sentiment. SMX’s rates regarding trips between S. E. Asia and rhe Far East dropped at $15-16,5 K / day. Northern, in the Far East the market started the week downwards due to the absence of demand and continued on the same rythms. SMX’s rates regarding round trips to NOPAC moved between $14-15,5 K / day, regarding trips to India at $14,5-15,5 K / day and for returning trips to the Atlantic Basin (BH) at $ 17,5-18,5 K / day.
In the Middle East’s Gulf and W. C. India the market further retreated. May the number of vessels to remain more or less on the same levels but the cargo number was limited. SMX’s rates regarding trips to the Far East ranges from $16,5-18 K / day ( from the Middle East’s Gulf {MEG} – W. C. India), regarding short trips between MEG-W. C. India at $17,5-18,5 K / day and regarding trips to the Mediterranean at $18-19,5 K / day.
In the Atlantic Basin and especially in the U. S. Gulf the market moved on lower numbers, since the limited chances for owners lesd them to limit their ideas. SMXs rates regarding transatlantic trips decreased at $ 16-17 K / day and to Asia at $ 16,5-18 K / day. ECSA’s area was calm considering activity to all routes. SMX’s rates regarding trips to the S. E. Asia – China dropped at $ 21-22,5 K / day and for transatlantic trips (Mediterranean/ Continent) at $24,5-25,5 K/ day.
Continent’s market moved downwards, despite the fact that there were some cargoes in the market that were not enough to absorb the available offered capacity. SMX’s rates regarding round-local trips moved between $13-14 K / day, regarding trips with SCRAP cargo to the Mediterranean between $12,5-14 K / day and to Asia at $16-17 K / day. In the Mediterranean the market dropped mainly regarding trips that are readily available. However there are cargoes during the Middle of September but the number od vessels remained high. Indicatively, it is claimed that a SMX for a trip from the Mediterranean to Asia closed at $28-19 K/ dat (delivery at Canakkale), to the other side of the Atlantic Basin at $14,5-16 K / day and in the Mediterranean at $ 15,5-16,5 K / day.
Handies market, in the Continent the downward trend remained this week as well, while it was observed over supply of capacity. Rates of the bigger vessels of the category, regarding round trips dropped at $13-14 K / day, to the Mediterranean with scrap cargoes at $12-13 K / day and for transatlantic trips at $12-13 K / day.
In the Mediterranean calmness prevailed and only wheat and clinker cargoes disturbed the calm waters of the black sea and east Mediterranean. With that given, rates continued to be under pressure, but there is a restrained optimism. Rates of the bigger vessels (past 36K tn DWT) regarding trips in the Mediterranean moved between $12-13 K / day (delivery at Canakkale), to the Continent at $12,5-13,5 K / day (delivery at Canakkale), to the other side of the Atlantic Basin at $11,5-13 K / day (delivery at Canakkale) and to Asia at $ 16-17 K / day.
On the other side of the Atlantic Basin, the U. S. Gulf remained stable regarding the most routes, but transatlantic trips had pressure. Indicatively, rates of the bigger vessels of the category regarding trips to the other side of the Atlantic Basin dropped at $14-15,5 K / day and to Asia at $14-15 K / day.
As regards ECSA’s market was hypotonic with only few cargoes in the market. With that given, rates of the bigger vessels from ECSA area regarding transatlantic trips (Continent-Mediterranean) moved between $19,5-20,5 K / day and to Asia between $21-23,5 K/ day.
In Asia we saw all areas losing ground. Problems in the production of China continue, while in E. Asia cargoes are few as well and only from Australia we saw some movement. In Middle’s East Gulf and W. C. India the market remained under pressure since vessel kept on being much more than the cargoes of the area. Rates of the bigger vessels of fhe category regarding round trips to the Far East and NOPAC closed at $14,5-16 K / day, from the S. E. Asia to China at $17-18 K / dat and from W. C. India to China at $ 12,5-14 K / day.

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