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We saw an increase regarding the dry bulk cargo market this week as well. Panamaxes and Handies showed an upward trend while Capes and Supramaxes retreated. Specifically, Capes dropped by 8,3%, Kamsarmaxes +46,8%, Supramaxes-2,6% and Handies +0,4% compared to last week. With that given BDI increased by 127 credit(+11,7%) and closed at 1213 credits on Friday, the 7th of September.
Let’s now see more specifically how the dry bulk cargo market moved as per vessel’s size starting off with Capes. In Asia many problems were observed as regards the Chinese ports due to bad weather. Also, during the last days of the week the market presented a recession. Levels of the index regarding route Australia-China (C5) closed at $7,76 / tn on Friday.
In the north Atlantic Basin we saw more activity and bookings as much for transatlantic trips as firvtrips Asia. On the contrary Brazil lost ground despite the fact that there were cargoes from Africa that enhanced the market. Indexes, on Friday, reached up to $18,8 / tn regarding trips from Brazil to China (for route C3), while rates from the Continent to Asia closed at $20 K / day (for route C9) and transatlantic round trips at $ 3,4 K / day (for route C8).
Considering Kamsarmaxes, in the Atlantic Basin the week started off with an upward tendency from the owners that took advantage of the positive sentiment, as the last week closed. Larer on the week we saw more cargoes as much from the North as from the South, while available vessels have been reduced. Indicatively, rates for trips from the East Coast of South America (ECSA) from the Far East reached up to $36-37 K / day (delivery at ECSA) and from the Black Sea to Asia up $ 20-22 K / day.
On the other hand, in Asia we observed more cargoes regarding all routes, mainly however more cargoes of iron ore from the North Pacific. Additionally, supplied capacity has decreased. Rates as regards roun trips to Australia- Far East moved between $ 17-18 K / day.
Regarding Supramaxes-Ultramaxes in the south east Asia the market started off the week dynamically, however continued downwards, during the second half. SMX’s rates regarding trips between S.E Asia and the Far East remained at $ 15-16,5K/ day. Northern, the Far East was calm with limited cargoes of carbon from the CIS and even more limited cargoes of steel to the south. SMX’s rates regarding round trips to NOPAC moved between $ 13,5-15 K / day, for trips to W. C. India between $ 14,5-15,5 K / day and as regards the returning trips to the Atlantic Basin (BH) between $16,5-17,5 K / day.
In the Middle East’s Gulf and W. C. India the market remained under pressure, while demand remained limited. We hope that as we are getting closer to the end of the monsoons we will saw more cargoes, SMX’s rates regarding trips to the Far East range from $16-17,5 K / day (from Middle East’s gulf [MEG] – W. C. India), regarding short trips between MEG-W. C. India from $15,5-16,5 K / day and for trips from the Mediterranean from $ 17-18,5 K / day.
In the Atlantic Basin and especially in the Atlantic Gulf the market presented a new drop regarding all routes, despite the fact that there were many conversations about cargoes. Rates of SMX’s regarding transatlantic trips decreased at $15-16 K / day and to Asia at $14-15 K – day. ECSA area moved positively, while it was enriched with some new cargoes, while supply of capacity remained stable. SMX’s rates for trips to S. E. Asia t- China increased at $23-24 K / day and as regards transatlantic trips (Mediterranean/ Continent) at $25,5-26,5 K / day.
Continent’s market retreated further, following the path of the previous weeks. However, we observed more cargoes and we hope that the market will stabilize soon. SMX’s rates regarding round local trips moved between $12-13 K / day, as regards trips with scrap cargo to the Mediterranean between $ 11,5-13 K / day and to Asia at $ 14-15 K / day. In the Mediterranean the week started off better than the previous one closed. However the continue was not respective in order to see even lower levels. Indicatively, it is claimed that a SMX for a trip from the Mediterranean to Asia closed at $ 17-18 K / say (delivery at Canakkale), to the other side of Atlantic Basin at $ 12,5-14 K / day and in the Mediterranean at $15,5-16,5 K / day.
As regards Handies market, in the Continent the market retreated with most bookings of the bigger vessels of the sector to be done in 5 digits numbers. However supply keeps on outdoing demand. Rates of the bigger vessels of the category, regarding round trips dropped at $10-11,5 K / day, to the Mediterranean with scrap cargo at $9-10 K / day and regarding transatlantic trips at $10-11 K / day.
Mediterranean presented decreased volume of cargo and as a result rates lead to even lower levels. Only trips from Ukraine continued to present some interest. Rates of the bigger vessels (past 36K tonne DWT) regarding trips in the Mediterranean moved between $ 11-12 K / day (delivery at Canakkale), to Continent between $ 12,5-13,5 K / day (delivery at Canakkale), to the other side of Atlantic Basin at $ 10,5-12 K / day (delivery at Canakkale) and to Asia between $ 14,5-15,5 K / day.
On the other side of the Atlantic Basin, U. S. Gulf presented over supply of capacity, while the number of cargoes remained limited. Indicatively, rates of the bigger vessels of the category regarding trips to the other side of the Atlantic Basin dropped at $ 13,5-14,5 K / day and in Asia at $14-15 K / day.
As regards ECSA’s market, it kept on stabilizing, while activity improved during the second half of the week. Thus, rates of the bigger vessels of ECSA area regarding transatlantic trips (Continent-Mediterranean) moved between $21-22 K / day and to Asia between $ 21-22,5 K / day.
In Asia, Far East and S. E. Asia presented a better image, compared to 5he previous period, while there were some cargoes in the north but also in Australia that helped the market remain on the same levels. In W. C. India the market presented downward trends, however there is a sense that this trend will change soon. Rates of the bigger vessels of the category regarding round trips to the Far East and NOPAC closed at $ 14,5-16 K / day, jn S. E. Asia to China at $ 17-18 K / day and from W. C. India to China at $ 11,5-13 K / day.

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