Several companies operating in the large-tonnage bulker market in the Baltic have announced selling their Handy/Supramax vessels in a move to modernize their fleet and compensate for losses incurred this year, Sea Lines ship brokers report.
On week 45, freight rates for large-tonnage bulkers in the Baltic were growing due to the high demand for Handy, Supramax, and Ultramax vessels, even though Baltic dry index lost several points.
Freight rates for 30,000-35,000 dwt bulkers from Ust-Luga moved sideways, Sea Line reports.
Last week, rates on the Ust-Luga – Continent – Ust-Luga routes were $17 pmt, rates from Ust-Luga to ARAG made $19 pmt.
Rates from Ust-Luga were $26.5 pmt to West Med rates, and $32 pmt to East Med.
Rates for 30,000-35,000 dwt bulkers from Ust-Luga to the Black Sea amounted to $35 pmt, rates to the Persian Gulf were $39 pmt.
In the small tonnage bulker segment in the Baltic the situation is far from stable, with rates quoted by owners often varying in a wide range. The reason is the difference between firm contracts and spot shipments of coal, fertilizers and steel. In the adverse weather conditions, many owners prefer to load cargo that is not weather-sensitive.
On week 45, freight rates for smaller bulkers from Ust-Luga to some destinations directions declined.
Thus, rates from Ust-Luga to Klaipeda were €15 pmt, and those to Riga and Stockholm were €14 pmt.
Freight rates from Ust-Luga to Hamburg made €21.25 pmt, and to Bremerhaven €22 pmt.
Rates from Ust-Luga to ARAG were €26 pmt, and those to Dublin €36 pmt.
Please note that the rates cited in this article are average market rates. We ask our readers to pay attention that this information is not a commercial offer and cannot be an example for comparison in commercial disputes and arbitration.