News ID: 76393 |
Publish Date: 08:42 - 20 September 2017

Handysize Bulkers See Earnings at Five-Month High

HANDYSIZE bulker earnings rose to their highest level in almost five months, buoyed by interest from the east coast of South America and the Pacific.

Handysize Bulkers See Earnings at Five-Month High
According to MANA, The average weighted time charter on the Baltic Exchange gained 8% to $8,131 per day at the close on Monday, while the index increased to 551 points from 509 points a week ago.
The Baltic Exchange said in a weekly note that it was a rather positive week for the segment on almost all routes.
The HS4 US Gulf via north coast South America to Skaw-Passero route was particularly strong, rising to $7,629 per day from $6,864 a week ago, according to the London-based exchange. Last week, this was the only route to register a decline.
Spot fixtures varied from $16,000 per day for delivery to Santos and redelivery in west coast South America, to $9,500 per day for vessel delivery in Mombasa, Kenya, according to Clarksons. A third deal was seen at $8,000 per day for delivery in Kandla, India, loading in east Africa, and discharging in the Middle East or western India.
According to Klaveness, the US Department of Agriculture has further increased its forecast for grains trade, which should be supportive for the smaller dry bulk segments. Total grains trade in the 2017-18 season was revised up by 600,000 tonnes to 620m tonnes, while the export figure is expected to reach an all-time high.
The handysize fleet saw eight deliveries in August, compared with three that were demolished, according to Banchero Costa. 
Meanwhile, in the asset market, a 2008-built vessel was offloaded for $8m, according to VesselsValue.
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