ATLANTIC HANDYSIZE DRY: USGC rates on hold until more demand materializes
Time：2014-09-01
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Front-haul rates from US Gulf Coast to China were flat Friday at $20,000/d for 58,000-dwt vessels. As shipping sources indicated, there is insufficient demand to push rates higher.
“Enthusiasm has gone for now and all early September requirements are covered,” a shipbroker said.
According to industry sources, charterers are now paying $20/mt to take 50,000-mt petcoke stems from Houston to Aliaga, Turkey, for early September dates, $1/mt more than August 22. After unloading, Supramax owners typically look to pick up a grain stem from the Black Sea for their next leg.
Rates have come off in the Black Sea, though, making this region less attractive for repositioning. As a result, offers has risen for trans-Atlantic petcoke stems with the Black Sea discharge, sources said.
In the Black Sea, Supramax owners are offering as low as $13,000/d to take front-haul stems to the Far East. According to shipping sources, numbers were above $16,000/d a week ago. An operator indicated that rates reached $16,000/d due to a lack of prompt tonnage, but there were few front-haul stems on the market and more vessels Friday.