Average spot rates for supramax and handysize bulkers rose on Wednesday to continue a steady ascent that began in early August.
The Baltic Exchange’s Supramax 10TC basket of spot-rate averages across five key routes edged up 2.8% to top $11,400 per day on Wednesday, hitting its highest point since late May and improving 51% since 7 August.
“Positive sentiment remained in most areas today,” Baltic Exchange analysts wrote on Wednesday in their daily take on the dry bulk market.
Bulk Asia fixed Yano Kaiun’s 55,800-dwt United Halo (built 2012) at $14,000 per day on Wednesday for a voyage in September from the western coast of India to Bangladesh, according to the exchange.
That is much higher than the $8,100 per day that Fullinks Marine Company paid to fix Petrovietnam’s 56,000-dwt PVT Sapphire (built 2006) on 7 August for a trip from Obi Island to China via Indonesia, according to the exchange.
“From Asia, a bit more mixed signals whilst brokers described a healthy volume of cargo enquiry in the Indian Ocean with healthier levels being achieved, further east from South Eeast Asia it remained finely balanced with little change in the balance between cargo and tonnage volumes,” the analysts said.
Meanwhile, Pacific Basin hired Fednav’s 55,300-dwt Federal Tweed (built 2013) at $20,500 per day for a trip in the same month with the intention to carry grains from southern Brazil to the western Mediterranean Sea.
“From the South Atlantic, brokers spoke of a stable amount of enquiry with rates generally steady,” they added.
The Handysize 7TC ticked up 1.2% to nearly $10,200 per day on Wednesday to also reach its highest level since early May and gain 45% since 7 August, according to the exchange.
“A split story today with sentiment generally remaining positive from the Atlantic,” the analysts wrote.
“From the South Atlantic again brokers spoke of reasonable levels of enquiry although limited fresh fixture active surfaced.
“A rather lacklustre feel in the Asian arena as brokers spoke of a shift in cargo to tonnage balance with more prompt tonnage becoming available, especially in the north.”
Far East Shipping & Trading’s 37,200-dwt La Bamba (built 2012) was rumoured to have opened in Bayuquan, China, on 6 September for a trip to Southeast Asia at $8,000 per day, but no more details came to light, the analysts said.
Elsewhere, the 28,735-dwt Transformer OL (built 2009), which will become available at Brisbane, Australia, in less than two weeks, was tied to a trip at around $12,000 per day, but no more details surfaced.
Similarly, Hongxin Ocean Shipping’s 32,500-dwt Hongxin Ocean (built 2012) opened in Jakarta and was said to be fixed at $9,000 per day for a trip but, again, no further details were forthcoming, they said.
