The situation has again improved somewhat for Supramax/Ultramax owners working in the Indian Ocean. Players report that increased number of iron ore offers for shipments from eastern India resulted in stronger demand for such fleet in the area. At the same time, there is no shortage of open vessels so far. Ship owners have managed to strengthen positions and insist on higher time-charter rates, though voy-bss levels hold relatively steady so far. An Ultramax vessel has been fixed at $17k daily for transportation of iron ore bss DOP dely ECI redel China. Owners of 55-58k dwt Supramax ships are seeking to get $15-16k daily on the above route; same levels are often voiced for vessels of 50-53k dwt. On the voyage basis, transportation of 50-55,000 t of iron ore from eastern India to China costs $11-12/t. Meanwhile, demand for Handysize fleet has decreased in the region, affecting corresponding rates. Time-charter rates for a 32k dwt carrier bss dely ECI redel China already amount to $10.5k daily.
Owners’ sentiment has improved also in the Persian Gulf and they are voicing significantly higher ideas for Supramax/Ultramax fleet. However, rates have not changed much so far. Thus, Supramax rates bss dely PG redel China amount to about $14k daily. The time-charter deal for a 56k dwt vessel dely Mina Saqr redel India has been signed at $12k daily, which seems to be quite a success for the charterer, as relevant rates are voiced closer to $13.5k daily. At the same time, the regional Handysize market is also showing negative trends. Thus, rates bss dely PG redel China amount to $12k daily. The Handysize time-charter bss dely WCI redel PG is estimated by ship owners at $8-9k daily. On the voyage basis, transportation of 50,000 t of limestone from Mina Saqr to Paradip costs $9.5-10/t.
The South African market is also showing some improvements this week. The tonnage list is rather short, which is referred to lack of ballasters from SE Asia and India (owners are more willingly considering shipments to China or moving vessels to the Black Sea). Requests for transportation of mineral cargoes to the Far East are gradually entering the market. An Ultramax carrier has been fixed at about $13k daily + $300k bb bss dely S.Afr redel Pacific Ocean. Supramax owners want to get around $11.75k daily + $175k bb bss dely RBCT redel Pakistan. On the voyage basis, transportation of 50-55,000 t of coal from RBCT to Bin Qasim is quoted at $11.5-12/t.