South America Keeps Handysize Bulkers Afloat

THE handysize market overall strengthened during the week, led by gains in Atlantic trades.

News ID: 74893

Date: 11 July 2017 - 11:41

According to the Baltic Exchange, there was a “clear difference between the Atlantic and Pacific basins”, with routes from northwest Europe and South America making “steady gains”, while other trading lanes “lost ground”. MANA correspondent reported.

Indeed, the biggest moves were in the Rio de Janeiro-Recalada to Skaw-Passero voyage, which increased by 3.8% to $10,206 per day, and the reverse trip, which rose by 3.1% to $5,770 per day, according to the Baltic Exchange.

Other gains came from the Skaw-Passero to Boston-Galveston trip, which was up by 2.1% to $5,750 per day, according to the London-based exchange.

China’s ban on coal imports at second-tier ports from July 1 may be leading to the quiet Pacific market.

The handysize average weighted time charter on the Baltic Exchange rose by 1.2% to $6,927 per day at the close on Monday, while the index was up just six points to 474.

In the assets market, a 2006-built, 35,300 dwt vessel was sold for $9.2m, which is higher than a similar deal in May, according to VesselsValue.

At least three vessels, with a total capacity of 75,700 dwt, were sold for demolition at yards in Turkey and India, according to the online data provider. In addition, two vessels in the handymax category, for a total of 94,300 dwt, were sold for scrap, it said.