Welcome to Shipping Online!   [Sign In]
Back to Homepage
Already a Member? Sign In
News Content

ATLANTIC HANDYSIZE DRY: USGC rates on hold until more demand materializes

Freight rates in the US Gulf Coast were static Friday, with shipping sources reporting that all early September requirements were covered.

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.
Source: Platts

About Us| Service| Membership and Fee| AD Service| Help| Sitemap| Links| Contact Us| Terms of Use