www.TheSeaNation.gr

The dry bulk cargo market progressed positively with gains being noted in all sizes except Supramaxes, while Capes showed a double-digit weekly change for another week. More specifically, Capes rose by 18.77%, Kamsarmaxes +0.90%, Supramaxes -5.8% and Handies +1.3%, compared to the previous week. Thus, the BDI increased by 108 credits (compared to the previous week) and closed at 1701 credits on Friday, September 29.
Let's see, in more detail, how the dry bulk cargo market by vessels size moved last week, starting with CAPEs. In Asia the start of the week was promising for shipowners with several cargoes from both East and West Australia. As the days went by activity picked up with many closes at higher levels than the previous week. But at the end of the week a drop in FFAs corrected the physical market as well. Index levels on the Australia-China route (C5) closed on Friday at $9.870/tn
In the Atlantic Basin, the week started quite dynamically and continued at the same pace. The North Atlantic in particular showed a lack of capacity in the middle of the week. In recent days there has been a drop in rates which is mainly due to the rush of some shipowners to close before the week of use. Indexes on Friday for trips from Brazil to China reached up to $23.33/tn (for route C3), while rates from Continent to Asia closed at $41.16K/d (for route C9 ) and Transatlantic round trips at $23.19K/day (for route C8).
Regarding Kamsarmaxes, in the Atlantic Basin the market moved in two gears. On the one hand in the north demand was increased, especially from the American Gulf, while in the South there were pressures as the cargo flow was not satisfactory. For example, the rates for the trips from the E. Coast S. Americas (ECSA) to the Far East reached up to $15-17K/day (Asia delivery), Continent to Asia at $25-27K/day (Continent delivery) and transatlantic round trips at $15-17 K/day (delivery to Gibraltar).
On the other hand, Asia saw subdued movement as charterers seem to have got into a holiday mood ahead of the golden week. Indonesia-Far East round trip rates moved to $11-13K/day (Far East delivery).
For Supramaxes-Ultramaxes, in Southeast Asia the market lost ground mainly due to the delays of several coal cargoes. SMXs rates for travel between S.E. Asia and the Far East rose to 14.5-16K/day. Further north, in the Far East the market has declined since the volume of available cargo is smaller compared to the vessels in the region. SMXs rates for NOPAC round trips moved to $10-11.5K/day W.C. India round trips to $10.5-12K/day and Atlantic (BH) round trips to $9-10, 5K/day.
In the Middle East Gulf and West C. India the market saw a drop in demand at the end of the week. Thus the rates also fell despite the fact that the tonnage remained stable. SMXs rates for Far East trips ranged from $16.5-18K/day (from Middle East Gulf (MEG) – West Indies (WCI)), short-haul between Middle East Gulf – West C. India at $13.5-15K /day and trips to the Atlantic Basin at $8.5-10K/day.
In the Atlantic Basin and especially the US Gulf started the week without much activity and supplied capacity started to increase. So rates fell, however the momentum of the previous weeks held back that decline. SMX rates for Transatlantic trips remained at $16-17.5K/day and to Asia at $22.5-24K/day. The ECSA area had more cargo during the week and the number of vessels available was also limited. The rates of SMXs for trips to S.E. Asia-China moved to $21.5-23K/day and for Transatlantic trips (Mediterranean/Continent) to $17.5-19K/day.
Continent experienced a recession, with activity subdued. SMX rates for round-trip local trips moved to $16-17.5K/day, for trips with SCRAP cargoes to the Mediterranean at $15.5-17K/day and to Asia at $20.5-22K/ day. The Mediterranean fell due to the lack of new cargoes And it looks like it will continue like this until mid-October. For example, it is reported that an SMX for a trip from the Mediterranean to Asia closed at $26.5-28K/day (Canakkale delivery), to the other side of the Atlantic at $17-18.5K/day and within the Mediterranean at $ 17-18.5 K/day (outside war zones).
In the Handies market, in Continent the lack of cargoes has led to a drop in rates. The only support in the market came from the fertilizers from the Baltic, not enough to change the wider climate. Rates for the largest vessels in the class, for round trips reached $16.5-18K/day, to the Mediterranean with Scrap cargoes at $16-17.5K/day and for Transatlantic trips at $12.5-14K /day.
The Mediterranean was under pressure as only grain from Ukraine offered a premium. But the lack of new cargo has led even the less daring shipowners to move there. Larger vessel rates (over 36K tonnes DWT) for intra-Med trips moved to $15.5-17K/day (delivery at Canakkale), to Continent at $14.5-16K/day (delivery at Canakkale) , to the other side of the Atlantic at $14.5-16K/day (Canakkale delivery) and to Asia at $19.5-21K/day.
On the other side of the Atlantic, in the American Gulf the market moved in two gears. On the one hand the larger sizes that had some cargo options and on the other hand the smaller ones where their competition was intense. Indicatively, the rates of the largest vessels in the class for trips to the other side of the Atlantic ranged from $15-16.5K/day and to Asia at $19.5-21K/day.
In the East Coast region of South America (ECSA) the market fell as new cargoes were minimal and this picture is not expected to improve until the middle of the new month. Thus, the charterers of larger vessels from the ECSA area for Transatlantic trips (Continent – Mediterranean) moved to $13.5-15K/day and to Asia at $16.5-18K/day.
In Asia the week started strongly and moved at these rates until the middle of the week. However, towards the end of the week rates fell in view of the holidays in China next week. It should be noted that the south moved at better levels than the north as there were quite a few cargoes from Indonesia and Australia. In India short holiday breaks kept activity low. Far East and NOPAC round trip charterers on larger vessels were closing in at $9-10.5K/day, from S. E. Asia to China at $10-11.5K/day and from the West C. India to China at $8-9.5K/day.