www.TheSeaNation.gr

But all the changes were in single digits. More specifically, Capes rose by 6.26%, Kamsarmaxes -6.3%, Supramaxes +4.7% and Handies +5.87%, compared to the previous week. Thus, the BDI rose by only 49 credits, compared to the previous week, and closed at 1997 credits on Friday, June 21.
Let’s see, in more detail, how the dry bulk cargo market by vessel’s size moved last week, starting with CAPEs. In Asia the market started the week calmly due to the holiday in Singapore. However, later in the week, most of the miners were active, with the result that the demand rose both in terms of area and the rates. Index levels on the Australia-China route (C5) closed on Friday at $11.1/tn.
In the Atlantic Basin there were significant gains with drivers in Brazil, West C. Africa and the East Coast of Canada where demand for travel to Asia was particularly strong. Indexes on Friday regarding trips from Brazil to China reached $27.38/tn (for route C3), while rates from Continent to Asia closed at $53.88K/d (for route C9 ) and Transatlantic round trips at $21.89K/day (for route C8).
Regarding Kamsarmaxes, there was limited demand in the Atlantic basin and mainly in the north and only some cargoes to Asia from Continent generated some interest. In the south, trips for the second half of July closed at lower levels. For example, rates regarding trips from the E. Coast of S. Of America (ECSA) to the Far East reached up to $20-22K/day (Asia delivery), Continent to Asia at $26.5-28.5K/day (Continent delivery) and transatlantic round trips in $13.5-15.5K/day (Gibraltar delivery).
On the other hand, in Asia the week started positively but a lack of coal cargoes and a general calm in the North Pacific led to a drop in rates towards the end of the week. Indonesia-Far East round trip rates moved to $13.5-15.5K/day (Far East delivery).
For Supramaxes-Ultramaxes, in Southeast Asia the market showed positive signs as there were several loads that absorbed much of the readily available capacity. SMXs rates for travel between S.E. Asia and the Far East went to 17.5-19K/day. Further north, in the Far East the market was boosted by increased steel exports from China. SMXs rates for North Pacific (NOPAC) round trips moved to $12-13.5K/day, W. C. India round trips to $12.5-14K/day and Atlantic Basin (BH) round trips to $ 13.5-15K/day.
In the Middle East’s Gulf and West C. India the market showed strong activity despite the fact that the early days of the week were dead due to the EID celebration. SMX rates for Far East trips ranged between $15-16.5K/day (from Middle East’s Gulf (MEG) – West C. India (WCI)), for short-haul trips between Middle East’s Gulf – West C. India at $13-14.5 K/day and trips to the Atlantic Basin at $ 6.5-8 K/day.
In the Atlantic Basin especially the American Gulf was characterized by a lack of cargo while at the same time the number of available vessels did not decrease. Thus, the charterers found an opportunity to push the rates, especially for the beginning of the next month. SMXs rates for Transatlantic trips reached up to $17.5-19K/day and to Asia $23.5-25K/day. The ECSA region started the week strongly, however an increase in offered capacity during the week put pressure on rates. Rates of SMXs for trips to the S. E. Asia-China moved to $26.5-28K/day and for Transatlantic trips (Mediterranean/Continent) to $22.5-24K/day.
Continent started the week strongly as several charterers rushed to book some scrap cargoes. However, the continuation of the week was not comparable as the demand was quite limited. SMX rates for round-local trips moved to $11-12.5K/day, for trips with SCRAP cargoes to the Mediterranean at $13-14.5K/day and to Asia at $19-20.5K/ day. The Mediterranean showed stabilizing trends as there may have been a steady flow of cargoes, however they were immediately covered by keeping the capacity supply at satisfactory levels. Indicatively, it is reported that an SMX for a trip from the Mediterranean to Asia closed at $21.5-23K/day (Canakkale delivery), to the other side of the Atlantic Basin at $10.5-12K/day and within the Mediterranean at $ 13.5-15K/day (outside war zones).
In the Handies market, in Continent the market was improving day by day with the vessels list being limited and quite a lot of cargo mainly to West Africa. Rates for the largest vessels in the class, for round trips reached up to $10.5-12K/day, to the Mediterranean with scrap cargoes at $12-13.5K/day and for transatlantic trips at $9-10.5K /day.
The Mediterranean moved up several new closes at higher levels. Thus, the number of available vessels declined. Larger vessel rates (over 36K tonnes DWT) for intra-Med trips moved to $10-11.5K/day (delivery at Canakkale), to Continent at $10-11.5K/day (delivery to Canakkale), to the other side of the Atlantic Basin $7.5-9K/day (delivery to Canakkale) and to Asia at $13.5-15K/day.
On the other side of the Atlantic Basin, in the US Gulf the market showed upward trends as ship-owners tried to raise the levels for spot cargoes. It looks like cargo flow is steady for June. Indicatively, the rates of the largest vessels in the class for trips to the other side of the Atlantic Basin ranged between $14.5-16K/day and to Asia at $18.5-20K/day.
The East Coast of South America (ECSA) region showed mixed trends. On the one hand, the larger sizes which were an increase in demand, due to the sinking of the river in Argentina, and on the other hand, the smaller sizes where the competition was intense. Thus, the charters of larger vessels from the ECSA area for Transatlantic trips (Continent – Mediterranean) moved to $16.5-18K/day and to Asia at $17.5-19K/day.
In Asia the market presented two different faces. On the one hand in the south there was a slowdown while in contrast the north moved at higher speeds, with many steel cargoes to the Atlantic Basin, while cargoes to Indonesia also paid a premium. Further west in India and the Gulf of the Middle East the market maintained its momentum thanks to a reduced number of vessels although cargo volumes were down. Far East and NOPAC round trip charters on larger vessels closed at $12-13.5K/day, from S. E. Asia to China at $15.5-17K/day and from the West C. India to China at $11.5-13K/day.

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