Supramax Earnings Rocket

SUPRAMAX bulker earnings have rocketed in the past week to surpass $11,000 per day on reportedly active markets in the Atlantic and the Pacific.

News ID: 76398

Date: 20 September 2017 - 10:58

According to MANA, the average weighted time charter on the Baltic Exchange surged to $11,464 per day at the close on Tuesday, a gain of 11% on the week, while the index, which is assessing 58,000 dwt vessels, increased to 1,017 points, the highest since the new index was introduced in April this year.
Besides an active market in east coast South America trades and increased demand in intra-Asian cargoes, the Baltic Exchange noted that the US Gulf region was “solid”, despite the recent bad weather, with a vessel reportedly fixed at $23,500 per day from Houston to India.
“A short tonnage list in the US Gulf supported rates in the Atlantic, despite reduced activity, while rates in the Pacific also improved reflecting increased demand,” said Clarksons in a weekly roundup.
Braemar ACM said in a note that it was seeing rates heading up, reporting some fixtures for coal from Indonesia to China.
In the spot market, 28 trades were seen, with cargoes including coal, bauxite, petroleum coke, limestone, nickel ore and steels, according to Clarksons data.
Three period fixtures were reported at $10,000 to $11,500 per day, Clarksons data showed. The lowest deal was concluded for a period of 11 to 14 months, while the highest was for four to six months.
Doyle Trading Consultants, a unit of Informa, said petcoke shipments would need to catch up with lost tonnages as a number of refineries in the US Gulf area were still in force majeure, despite restarting operations.
Meanwhile, the International Maritime Organization has approved new guidance for the safe shipping of bauxite following extensive research after the sinking of Bulk Jupiter in 2015.