Three owners and operators locked kamsarmax bulkers into charters of around a year or more on Monday, adding to a flurry of period dealmaking in the segment.
As kamsarmaxes dominate period charters reported by the Baltic Exchange, Monday’s fixtures come after at least four of the ships were locked into deals of 10 months or more last week.
Oslo-listed Western Bulk Chartering has locked in KC Maritime Hong Kong’s 81,900-dwt Darya Ma (built 2011) for a year at just under $17,200 per day, Baltic Exchange data showed.
That is in line with Clarksons’ Friday assessment for a one-year charter of a 82,000-dwt bulker, which dipped to $17,100 per day from just under $17,250 a week earlier.
Diana Shipping, a New York-listed owner, said it chartered out its 81,300-dwt Leto (built 2010) to ASL Bulk Shipping for $16,000 per day, minus a 5% commission, for at least 10 months.
The deal starts on 2 May and ends between 1 March and 30 April next year, bringing in at least $4.75m in gross revenue for Athens-based Diana.
A third kamsarmax, a subclass of panamaxes that typically are around 81,000 dwt or 82,000 dwt in capacity, has scored a one-year charter with a floating rate set at 109% of the Baltic Panamax Index, according to the Baltic.
Its Panamax 5TC, an average of spot rates that is based on 82,000-dwt vessels, fell to $16,700 per day on Monday, down from $17,300 per day a week earlier.
Last week’s deals included Summit Trading’s fixture of the 85,000-dwt Xing Le Hai (built 2023), a large kamsarmax owned by Fortune Ocean Shipping of China.
The one-year deal is priced at 119% of the Baltic Panamax Index, according to Baltic Exchange fixture data.
Three ships with more efficient “eco” engines fetched higher rates last week.
Smart Gain agreed to pay $18,900 per day for 10 to 12 months for the 82,000-dwt CCS Orchid (built 2017). The ship is operated by Huayang Hong Kong Shipping.
Cobelfret locked in the 82,000-dwt BBG Hechi (built 2022), which is operated by China’s BG Shipping, for a year at $19,300 per day.
And on Monday of last week, an unnamed charterer agreed to pay $19,000 per day for the 82,400-dwt Yangze 26 (built 2024), controlled by Yangzijiang Shipping Center. The charter is for 11 to 13 months.
