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More specifically, Capes increased by 6.73%, Kamsarmaxes +8%, Supramaxes +4% and Handies +5.5%, compared to the previous week. Thus, the BDI rose by 142 credits (compared to the previous week) and closed at 2345 credits on Friday, March 8.
Let's see, in more detail, that the purchase of dry bulk cargo per week moved, starting with capes. Asia started dynamically a week with the main charterers being active. However, at the end of the week there was a retreat on the part that led to a fall of rates. The index levels on the Australia -China Route (C5) closed on Friday at $ 14.4/tn.
In the Atlantic Basin the rates have moved down as the difference between offers of shipowners and charterers reduced the volume of closures mainly from West Africa and Brazil. Indicators on Friday arrived for travel from Brazil to China at $ 31.26/TN (for route C3), while rates from Continent to Asia closed at $ 56.28 k/day (for the C9 route ) and transatlantic round trips to $ 32,11k/day (for C8 route).
Regarding Kamsarmaxes, in the Atlantic Basin and in particular the north there were several new loads from the United States’ east coast to W. C. India. On the contrary, transatlantic trips were less. The great protagonist was Latin America that showed strong mobility. Indicatively, the rates for travel from the East coast of S. America (ECSA) to the Far East have reached up to $ 18-20k/day (Asia Delivery), from Continent to Asia to $ 23.5-25.5 K/Day (Delivery to Continent) and circular transatlantic trips to $ 11.5-13.5 k/day (Delivery to Gibraltar).
On the other hand, in Asia, the week may have been characterized by calm, but the good image of Latin America and the strong interest for a period of charterers helped rise to rates. Rates for round trips to Indonesia-Far East moved to $ 20-22K /day (Delivery Far East).
For Supramaxes-Ultramaxes, in Southeast Asia, the market was strengthened with the main cargo loads. SMXs rates for travel between S.E Asia and Far East went to 19-20.5k/day. Further north, in the Far East the market showed recession as the North Pacific was calm. So several shipowners looked at the loads from the south. SMXs rates for round trips to NOPAC were moved to $ 14-15.5k/day, for trips to W. C. India at $ 12-13.5k/day and traveling to the Atlantic Basin (BH) at $ 11-12, 5K/day.
In the Middle East Gulf and West C. India we saw a gradual decline in activity that led to lower rates. Smxs rates for travel to the Far East ranged between $ 17.5-19k /day (from Middle East’s Gulf (MEG)-West C. India (WCI), for short trips between Middle East Gulf-West C. India at $ 16.5-18 K/Day and travel to the Atlantic Basin at $ 6-7.5 k/day.
In the Atlantic Basin and especially the American Gulf continued its downward trend due to the lack of new cargo. It is worth noting that for travel to Asia the fall of the rates was restrained as the shipowners were not willing to further reduce their ideas. SMXs rates for transatlantic trips reached up to $ 10.5-12K/day and to Asia at $ 20-21.5k/day. The ECSA area was pressured by the increasing offered capacity. During the week we saw more and more vessels from Africa and the North heading to the area. SMXs rates for travel to S. . Asia-China moved to $ 26-27.5k/day and for transatlantic trips (Mediterranean/Continent) at $ 17-18.5k/day.
Continent has shown very limited demand. It is noteworthy that the bad image of the American Gulf has led many shipowners to demand higher numbers for loads there. SMXs rates for round-local trips moved to $ 14.5-16k /day, regarding trips with scrap cargo to the Mediterranean to $ 13.5-15k /day and to Asia to $ 24-25.5k / day. The Mediterranean was declining as regards demand while the number of vessels available increased. The only support came on the market from cement and fertilizers. Indicatively, it is reported that a SMX for trip from the Mediterranean to Asia closed at $ 25-26.5k/day (Canakkale delivery), to the other side of the Atlantic Basin at $ 10-11.5k/day and in the Mediterranean to $ at $ 11.5-13 K/Day (except for war zones).
In the Handies market, in Continent the market maintained its momentum thanks to fertilizers from the Baltic as grain cargoes were limited. Rates for the largest vessels in the class, for round trips reached up to $14-15.5K/day, to the Mediterranean with Scrap cargoes at $14.5-16K/day and for Transatlantic trips at $13.5-15K /day.
The Mediterranean appears to have been helped by the delays in the Bosphorus Straits as it held back the supply of vessels. The Black Sea continues to offer trips with some bonus. Larger vessel rates (over 36K tonnes DWT) for intra-Med trips moved to $13-14.5K/day (delivery at Canakkale), to Continent at $11.5-13K/day (delivery to Canakkale), to the other side of the Atlantic Basin at $11-12.5K/day (Canakkale delivery) and to Asia at $19.5-21K/day.
On the other side of the Atlantic Basin , in the US Gulf the market showed signs of stabilization, not so much due to an increase in demand but mainly because some closes were made at slightly higher levels. Indicatively, the rates of the largest vessels in the class for trips to the other side of the Atlantic Basin ranged between 0.5-12K/day and to Asia at $14.5-16K/day.
The East Coast of South America (ECSA) region was strengthened with new cargoes. Another positive factor was the increase in river drafts in Argentina thus helping the sector. Thus, the charterers of larger vessels the ECSA area for Transatlantic trips (Continent – Mediterranean) moved to $19-20.5K/day and to Asia at $23-24.5K/day.
In Asia and especially in the south, the market was marred by the extremely reduced number of vessels which led many charterers to stay put and not move. In the north the flow of cargo was steady and vessels could easily find some employment. Further west, the market in W. C. India and the Gulf remained at the same levels without particular changes. Far East and NOPAC round trip charters on larger vessels closed at $14-15.5K/day, from S.E. Asia to China at $15-16.5K/day and from the West C. India to China at $11-12.5K/day.

Disclaimer
This report and the information contained herein it is for general information only and does not constitute an investment advice