Handy-size Bulk Carrier Market: Tonnage Shortage Pushes Up Rates

MarineLink.com
Tuesday, November 26, 2013
Image in public domain

The NCSA-USG area remains short of tonnage: a 34,000 dwt bulk ship is well-linked to US$ 15,000 daily for a short period of 3-5 months, reports BMTI in its latest 'Handy Bulk Market Viewpoint'.

Owners of a similar size of tonnage were seeing US$ 24,000 daily for a trip to Europe. A range of US$ 20,000 daily from NCSA via the USG to the Continent from owners of a 36,000 dwt was rebuffed by charterers as being too expensive.

From the NCSA, undisclosed charterers were chasing a 35,000dwt for short period at US$ 13,500, which was about US$ 2,000 short of the owner's ideas. If you want to fix a 60,000dwt from the USG to the East, be prepared to face US$33,000, say BMTI.

Perky activity in the East has resulted into some very decent fixtures for Handysize tonnage. A 35,000dwt has been taken for a quick Australian round voyage at US$13,500 daily with delivery in Indonesia.

From China to Southeast Asia, owners of a 28,000 dwt have been firing rates at charterers in the region of US$ 9,000 daily. Rice charterers are still far apart from owners' ideas for a 25,000mt cargo from Sacramento (200,000 disb) to Turkish Med. They started at US$ 55/mt, increased their ideas to US$ 62/mt, now talking US$ 65/mt whilst owners didn't budge a cent from their initial idea of US$ 72/mt. In the WCI-PG region, pressed for tonnage, a 55,000 dwt was bid US$ 17,000 for 15 days WCI-PG trading.

The Black Sea market is just about holding steady, but owners report on more complicated talks with charterers trying to fix lower levels. A 57,000 dwt is rumoured, say BMTI, as fixed at around US$ 20,000 daily to the East.

Covering Handysize cargoes to India remains a mammoth task for charterers who prefer to wait for the second half of December when many owners will start scrambling to cover their ships over the Christmas period and beyond and are expected to eventually offer acceptable compromises to charterers. Petcoke charterers are trading a vessel for 35,000 mt from South Spain to USG at around US$ 19/mt.

Excerpted from the latest BMTI Daily Report:  http://bmti-report.com/index.php?
 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ICC Conference Focuses on Platform to Settle Disputes

The 5th ICC International Commercial Mediation Conference has brought together leading mediators, arbitrators, corporate managers and in-house counsel from around

Keystone XL Costs to Nearly Double - TransCanada

The total cost of TransCanada Corp's controversial Keystone XL pipeline is likely to nearly double following six years of regulatory delays, a company spokesman said on Friday.

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

Contracts

Nigerian Minister Pledges $1.3 bln for Power Companies

Nigeria's oil minister announced a 213 billion naira (1.3 billion US dollar) bail-out package for power companies on Saturday, nearly a year after the sector was privatised.

Rosneft says Exxon Still Continues to Work With it in Arctic

Russia's biggest oil producer Rosneft said on Saturday that Exxon Mobil was still continuing exploration drilling at their joint project in the Arctic Kara Sea.

ICC Conference Focuses on Platform to Settle Disputes

The 5th ICC International Commercial Mediation Conference has brought together leading mediators, arbitrators, corporate managers and in-house counsel from around

Bulk Carrier Trends

Second Sailing Added to Cleveland-Europe Express

The Port of Cleveland and Amsterdam-based Spliethoff Group announced today their mutual intent to add a second monthly vessel to the Cleveland-Europe Express (CEE),

Ferus Smit Building LNG Powered Cement Carrier

The first unique LNG powered ship that Ferus Smit has on order for Erik Thun A.B. will be built and equipped as a dedicated cement carrier. The ship will be delivered to the joint venture JT cement,

Scorpio Bulkers Upsizes Public Offering

Scorpio Bulkers Inc. announced today that it has further upsized and priced its previously announced offering of senior unsecured notes due 2019 in a registered public offering.

Finance

Nigerian Minister Pledges $1.3 bln for Power Companies

Nigeria's oil minister announced a 213 billion naira (1.3 billion US dollar) bail-out package for power companies on Saturday, nearly a year after the sector was privatised.

Russia's Yamal LNG Project May Tap Wealth Fund in 2014

Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies.

ICC Conference Focuses on Platform to Settle Disputes

The 5th ICC International Commercial Mediation Conference has brought together leading mediators, arbitrators, corporate managers and in-house counsel from around

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3358 sec (3 req/sec)