Σαβ01282023

Last updateΠαρ, 27 Ιαν 2023 10pm

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Improvements in the dry bulk cargo market, despite China’s absent

bulk ships 000

Iakovos (Jack) Archontakis
Commercial Manager TMC MARITIME CO.

Fotios-Evangelos Karlis
Chartering Department TMC MARITIME CO.

We saw a raise regarding the dry bulk cargo market the last week. All sizes presented a raise with Capes presenting the biggest raise and the rest sizes followed. To be more specific, capes increased by 22.55%, Kamsarmaxes+7,3%, Supramaxes +2,6% and Handies+2,4%, compared to last week. With thay given, BDI raised by 201 credits (+11,4%) and closed at 1961 credits on Friday, the 7th of October.
Let’s now see, specifically, how the dry bulk cargo market moved last week, as per vessel’s size, starting off with Capes. In Asia the week was calm with limited activity. Only during the end of the week we saw some movement from big carterers. Trips to the Continent presented significant interest with many coal cargoes. Levels of the index regarding route Australia-China (C5) closed at $9,06/ tn on Friday.
In the Atlantic Basin both South and North moved in better levels compared to last week, even though during the last week there was a drop. Indexes on Friday reached regarding trips from Brazil to China up to $24,67 / tn (regarding route C3), while rates from the Continent to Asia closed at $39,8 K / day (regarding route C9), and transatlantic round trips at $26,64 K / day (regarding route C8).
Considering Kamsarmaxes, in the Atlantic Basin holidays during the start of the week kept the rythms of the market low. However, the return came along with many wheat cargoes to Asia, but also ore from North America. Indicatively, rates regarding trips from East Coast of South America (ECSA) to the Far East reached up to $ 22-24 K/ day (delivery at Asia) and from the American Gulf to Asia at $ 30-32 K/ day (delivery at Continent)
On the other hand, in Asia the most of the week passed calmly and only by the end of the week we saw some improvement regarding the activity, mainly in the North Pacific. Rates regarding round trips in Australia – Far East moved between $ 15-16,5 K/ day.
As regards Supramaxes-Ultramaxes in S. E. Asia calmness dominates due to Chinese holidays. SMX’s rates regarding trips between S. E. Asia and Far East remained at $ 19-20,5 K/ day. Northern, the Far East did not show any significant movement due to the golden week in the Chinese market. SMX’s rates regarding round tripa at NOPAC moved between $15-17 K/ day, regarding tripa to W. C. India between $14,5-15,5 K/ day and as regards returning tripa to the Atlantic Basin (BH) between $ 17,5-18,5 K/ day.
In the Middle East’s Gulf and W. C. India the market remained it’s good sentiment of the past days and insterests with many cargoes from the Far East. SMX’s rates regarding trips to the Far East range between $ 16-17,5 K/ day (from Middle East Gulf {MEG} – W. C. India), regarding short trips between MEG-W.C. India between $15,5-16,5 K/ day and trips to the Mediterranean between $ 17-18,5 K/ day.
In the the Atlantic Basin and especially in the American Gulf the market enhanced with more cargoes of wheat to Asia. SMX’s rates regarding transatlantic trips increased at $22-23 K/ day and to Asia at $24-25 K/ day. ECSA area kept its upward trend mainly because of the movement that was observed in routes to Asia, over carrying upwards the rest market. SMX’s rates regarding trips to S. E. Asia – China raised at $ 28-29 K / day and as regards transatlantic trips (Mediterranean/ Continent) at $ 28,5-29,5 K/ day.
Continent’s market moved positively with many new cargoes, mainly for the end of the month. SMX’s rates regarding round-local trips moved between $19-20 K/ day, regarding trips with scrap cargoes to the Mediterranean between $ 19-20 K / day and to Asia between $23-24 K/ day. In the Mediterranean the market had a slow week start, however during the second half demand improved from Ukraine. Indicatively, it is claimed that a SMX for a trip from Mediterranean to Asia closed at $27-28 K/ day (delivery at Canakkale), to the other side of the Atlantic Basin at $ 21-22,5 K/ day wnd in the Mediterranean at $25,5-26,5 K/ day.
Considering the handies market, in Continent the market presented improvements, being influenced by the bigger sizes however available vessels in the area seem to increase. Rates of the bigger vessels of the category, regarding round trips raised at $17-18,5 K/ day, to the Mediterranean with scrap cargoes at $19-20 K / day and as regards transatlantic trips at $ 16-17 K/ day.
Mediterranean presented improved rates, while exports of wheat from Ukraine ports have raised. Additionally the market enhanced with more cargoes from Turkey. Rates of the bigger vessels (past 36K tn DWT) as regards tripa in the Mediterranean moved between $16-17 K/ day (delivery at Canakkale), to the Continent at $19,5-20,5 K/ day (delivery at Canakkale), to the other side of the Atlantic Basin at $16,5-18 K/ day (delivery at Canakkale) and to Asia at $19-20 K / day.
To the other side of the Atlantic Basin, in the American Gulf we saw fluctuations depending to the routes. Vessel’s of the area were enough but demand started to raise from the East Coast. Indicatively, rates of the bigger vessels of the category regarding trips to the other side of Atlantic Basin ranged between $16,5-17,5 K/ day and to Asia between $ 17-28 K/ day.
Regarding ECSA’s market, it remained its dynamic with stable flow of wheat. With that given, rates of the bigger vessels of ECSA area regarding transatlantic trips (Continent-Mediterranean) moved between $31-32 K/ day and to Asia between $ 25-26,5 K/ day.
In Asia, in S. E. Asia and the Far East calmness remained due to Chinese holidays. Also W. C. India continued without any significant changes. Rates of the bigger vessels of the category regarding round trips to the Far East and NOPAC closed at $17,5-19 K/ day, from the 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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