Supramax Bulker Market Improve

SUPRAMAX bulker earnings are once again on the rise, with fresh cargo demand behind the increase, brokers reported.

News ID: 74612

Date: 22 June 2017 - 15:40

According to MANA, The North Pacific region was “strong” with an “active” east coast of Australia that helped to push rates higher, despite some weakening emerging in Southeast Asia, Braemar ACM said in a note.

Clarksons reported improved sentiment in the Pacific, with a “flow of fresh cargoes”.

The average weighted time charter rate on the Baltic Exchange gained 7.7% to $8,120 per day at the close on Tuesday, the highest level seen since May 30.

The Atlantic market was also said to be seeing a positive trend, according to the Baltic Exchange, although the Mediterranean market was coming off because of “plentiful vessel supply in the area”.

According to Banchero Costa, citing Reuters, a port strike in Argentina was causing a backlog of ships, with about 20 waiting to load grains.

In the spot market, a cement cargo was fixed from China to Singapore at $7,500 per day, while a couple of nickel ore cargoes were reported loading in the Philippines to China at $7,200 and $9,000 per day, according to Clarksons.

In other activity, an iron ore cargo from South America to Rotterdam was concluded at $11,000 per day, while a petroleum coke voyage from the US Gulf to India was fixed at the highest rate of $18,500 per day, Clarksons' data showed.

A concentrates load from Peru to the Singapore-Japan region was meanwhile seen at $12,750 per day, the data showed.

According to broker reports, short-period charters, of up to six months, were fixed between $8,000 and $9,100 per day. That is up from last week.

In secondhand sales, a 2001-built bulker was sold for $6.6m, according to VesselsValue.