24/06/2016
source: ISM / Voyage and TCT rates for Handysize intermed-shipments ex BlSea keep sliding down
24.06.2016 13:49
The surplus of available Handysize vessels is growing in the spot market of the Black and Mediterranean Seas. According to brokers, more than 30 carriers are now open in the region. The charterers keep lowering the rates, particularly those for intermed-shipments. At present, the charterers are ready to pay at best $3.25k daily for a Handysize vessel chartered bss dely passing Canakkale via BlSea redel EMed. The time-charter deals for Handysize fleet bss dely BlSea redel Continent are negotiated at $2k daily. The contract for a Handysize carrier chartered for transportation of steel products bss dely Odessa redel USG has been concluded at $2.25k daily for the first 47 days and at $5k daily for later dates. The time-charter bss dely BlSea redel PG is quoted by brokers at $6-7k daily. On the voyage-basis, carrying 25-30,000 t of grain from Nikolayev to Alexandria is negotiated at $10.5-11/t. The contract for transportation of 30,000 t of maize from Constanta to Rotterdam with mid-July laycan dates has been fixed at $9/t (given high l/d rates of 10,000 t sshex bends). A similar lot of grain is exported from Nikolayev to southern Spain at $11/t (bss free DA in the port of discharge). A 27,000 t lot of rapeseed is shipped from Romania to Rotterdam at $9.75/t, to Ghent – at $10/t. A 25,000 t lot of grain is carried from Bulgaria to Libya at $13.5/t. The deal for transportation of 22,000 t of agricultural products from Egypt to Morocco has been fixed at $11/t. A 20,000 t lot of steel products from Novorossiysk to Israel has been fixed at $21/t bss FILO. Shipping 25-30,000 t of coal from Nikolayev to Iran costs $26-27/t, transportation of 30,000 t of wheat from Odessa to Iran – $27-28/t. The charterer is ready to pay $22/t for shipment of 12,000 t of cement from Antalya to Djibouti. The deal for transportation of 25,000 t of cement from Turkey to Ghana (given the l/d rates of 5,000c/3,500x) has been signed at $15/t, which is equivalent to $6k daily bss dely EMed redel WAfr and to $3.5k daily bss redel ECSA (considering trip in ballast from West Africa).
The owners of Supramax fleet manage to keep the rates stable and even to raise them slightly in some cases. Market participants refer this to the fact that the number of such vessels has decreased in the Mediterranean Sea, as the owners transferred their carriers to the Gulf of Mexico and South America. The deals for Supramax fleet bss dely BlSea redel Spore-Japan are negotiated at $8-9k daily. The contract for transportation of 50,000 t of wheat from Nikolayev to the Philippines is negotiated at $22.75/t, which is equivalent to $8.3-8.6k daily bss dely passing Canakkale. Carrying a similar lot of grain from Yuzhny to China is quoted by brokers at $21-22/t. Shipping 50-55,000 t of steel products from Turkey to the UAE costs $18.5-19/t bss FILO.
Next week, trade is likely to remain slack in the Black and Mediterranean Seas, though the owners will most likely be more aggressive while negotiating the deals for the second half of July, expecting grain exports to perk up.