www.TheSeaNation.gr

The dry bulk cargo market continued its downward trend last week with Capes once again recording double-digit weekly declines and single-digit losses for smaller sizes. Specifically, Capes fell by 11.73%, Kamsarmaxes -1.92%, Ultramaxes (63) -1.98% and Handies -6.33%, compared to the previous week. Thus, the BDI fell by 61 credits, compared to the previous week and closed at 990 credits on Friday, December 20.
Let's see, in more detail, how the dry bulk cargo market moved last week by vessels size, starting with CAPEs. In Asia, the week started dynamically with several new cargoes. However, as the week progressed, the flow of cargoes declined and the number of vessels increased, resulting in lower rates. The index levels on the Australia-China route (C5) closed on Friday at $6.39/tn.
In the Atlantic Basin, and particularly in the south, a small increase in cargoes with loading dates in January was observed, while vessels moving to the region were also limited. In the north, marginal losses were observed for transatlantic trips and small improvements were observed for trips to Asia. The indices on Friday reached $16.95/tn for voyages from Brazil to China (for the C3 route), while rates from Continent to Asia closed at $27.31 K/day (for the C9 route) and Transatlantic round trips at $9.57K/day (for the C8 route).
Regarding Kamsarmaxes, in the Atlantic basin, and particularly in the north, the market remained at the same levels with satisfactory activity during the week. In the south, the week started sluggishly but picked up speed during the week. Indicatively, rates for trips from the East Coast of South America (ECSA) to the Far East reached up to $23-25K/day (delivered ECSA), from Continent to Asia at $13.5-15.5K/day (delivered in Continent) and circular Transatlantic trips at $9.5-11.5K/day (delivered in Gibraltar).
On the other hand, in Asia the market continued its downward trend as demand was limited from both Indonesia and Australia and only some cargoes from the North Pacific were an attractive alternative. Rates for round trips on Indonesia-Far East moved at $3.5-5.5K/day (delivered Far East).
For Supramaxes-Ultramaxes, in Southeast Asia the market was more balanced as there were cargoes from Indonesia with coal. UMXs rates for trips between SE Asia and the Far East went to 10.5-12K/day. Further north, in the Far East the market remained under pressure as cargoes from northern China were minimal and only cargoes from the North Pacific offered some support. On the positive side, the fact that vessels moving from the south were limited was the fact that. UMXs rates for round trips in the North Pacific (NOPAC) moved to $9-10.5K/day, for trips to W. C. India at $10.5-12K/day and return trips in the Atlantic (BH) at $7.5-9K/day.
In the Middle East Gulf and West C. India the market was calm. Interest from shipowners focused on longer duration jobs to avoid the holiday period including the Chinese New Year. Rates for UMXs for trips to the Far East ranged at $10.5-12K/day (from Middle East Gulf (MEG) – West C. Indies (WCI)), for short trips between Middle East Gulf – West C. India at $10-11.5K/day and trips to the Atlantic Basin at $6.5-8K/day.
In the Atlantic Basin and especially the American Gulf, the market proceeded without any significant changes. Some cargoes with January loading dates helped to keep the market at the same levels. UMXs rates for Transatlantic trips reached up to $21-22.5K/day and to Asia at $20.5-22K/day. The ECSA region started the week positively with more cargo. In addition, capacity supply was limited. Thus rates improved. SMXs rates for SE Asia-China trips moved to $19.5-21K/day and for Transatlantic trips (Mediterranean/Continenr) at $17.5-19K/day.
Continent lost ground for another week. Activity was subdued and only some movement from the Western Mediterranean provided support, but it was not enough to change the mood. The UMXs' rates for round-local trips were at $12-13.5K/day, for trips with SCRAP cargoes to the Mediterranean at $13-14.5K/day and to Asia at $14.5-16K/day. The Mediterranean was pressured by the oversupply of capacity as the minimum cargoes at the beginning of the week were covered and not renewed. Indicatively, it is reported that a UMX for a trip from the Mediterranean to Asia closed at $13-14.5K/day (Canakkale delivery), to the other side of the Atlantic Basin at $6-7.5K/day and within the Mediterranean at $8.5-10K/day (except for wartime).
In the Handies market, the market in Continent declined as new cargoes were absent while there was an increase in capacity. Rates for the largest vessels in the category, for round trips, reached up to $ 7.5-9K / day, to the Mediterranean with scrap cargoes at $ 8-9.5K / day and for Transatlantic trips at $ 6-7.5K / day.
The Mediterranean continued the pace of the previous days as demand declined further increasing the number of available vessels . The rates of the largest vessels(over 36K DWT) for trips within the Mediterranean ranged between $5.5K-7K/day (delivery in Canakkale), to Continent from $5.5K-6.5K/day (delivery in Canakkale), to the other side of the Atlantic Basin from $5.5K-7K/day (delivery in Canakkale) and to Asia from $9.5K-11K/day.
On the other side of the Atlantic Basin, in the American Gulf, the market proceeded without any particular changes with shipowners and charterers remaining in their positions. Indicatively, the rates of the largest vessels in the category for trips to the other side of the Atlantic Basin ranged between $11.5K-13K/day and to Asia from $15.5K-17K/day.
The East Coast of South America (ECSA) region declined further due to limited demand and activity, driving rates to lower levels. Thus, rates for larger vessels from the ECSA region for Transatlantic trips (Continent -Mediterranean) moved to $ 14-15.5K/day and to Asia to $ 16-17.5K/day.
In Asia, calm prevailed both in the north and south as most cargoes for December have been covered. In addition, pressure was exerted by Supramaxes. Further west, in the Middle East Gulf and W. C. India, the market continued to decline with shipowners' interest focusing on longer trips to avoid even the Chinese New Year period at the end of January. Rates of the largest vessels in the category for round trips to the Far East and NOPAC were at $ 8-9.5K / day, from SE Asia to China at $ 7.5-9K / day and from West C. India to China at $ 7.5-9K / day.

As the holiday season approaches, we would like to extend my warmest wishes to you and your loved ones.

May your Christmas be filled with joy, laughter, and cherished moments, and may the New Year bring you health, happiness, and prosperity.

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