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The losses in the dry bulk cargo market continued the past week. Supramaxes were the only raising sector, while Capes were the ones that presented the biggest fall and the rest sizes followed. To be more specific, Capes dropped by 42,5%, Kamsarmaxes -11,5%, Supramaxes +9%, and Handies-1,8%, compared to last week.

With that given, BDI dropped by 199 credits (-13,47%) and closed at 1278 credits on Friday, the 19th of August.
Let’s now see more specifically, how the dry bulk cargo market moved last week as per vessel’s size, starting off with Capes. In Asia the market lost ground this week as well. Most owners preferred to stay in the area by seeing that the Atlantic Basin does not constitute an appealing alternative option. Levels of the index Australia-China (C5) closed at $7,6/ tn on Friday.
In the Atlantic Basin we saw significant losses as much in the north as in the south. Lack of cargoes and the increased available vessels lead to the fall of freights as regards all routes. Indexes regarding trips from Brazil to Asia reached up to $18,83/ tn on Friday (for route C3), while rates from the Continent to Asia closed at $24,56K / day (for route C9) and as regards transatlantic round trips at $7,9 K / day (for route C8).
Considering Kamsarmaxes, the Atlantic Basin moved downwards since the absence of wheat and iron ore cargoes was obvious, while supplied capacity enhanced with vessels moving from Asia. We can say that only the Baltic and the North Continent area stood out, that presented some cargoes. Indicatively, rates regarding trips from the East Coast of South America (ECSA) to the Far East reached up to $14-17 K / day (delivery in Asia), to Continent up to $27-29 K / day (delivery in ECSA) and from the U. S. Gulf and North Coast of South America to Continent up to $13-15 K / day (delivery in N. Continent).
On the other hand, in Asia freight market moved on the lower levels. There was some activity from Australia and North that was not enough in order to improve the general image of the market. Rates regarding round trips to Australia-Far East moved between $14-16 K / day.
As reference Supramaxes-Ultramaxes S. E. Asia moved upwards, while coal cargoes from Indonesia increased. SMX’s rates regarding trips between S.E. Asia and the Far East raised at $20-21,5 K / day. Northern, in the Far East we saw an increase in the freight market, after some time, with more steel cargoes. There was also considerable interest for trips from the North Pacific and for trips to the Atlantic Basin. SMX’s rates regarding round trips to NOPAC moved between $15-16,5 K / day, for trips to W. C. India between $18,5-19,5 K / day and regarding returning trips from the Atlantic Basin (BH) between $18,5-19,5 K / day.
In the Middle East’s Gulf and W. C. India the market started off calmly, due to holidays, while then we observed an improved sentiment. We saw more cargoes from the gulf to Bangladesh as well. SMDay rates regarding trips to the Far East range from $18-20 K / day (from Middle East Gulf [MEG] – W. C. India), regarding short trips between MEG-W.C.India from $17-18,5 K / day and for trips to the Mediterranean from $19-20,5 K / day.

In the Atlantic Basin and especially in the U.S. Gulf the market showed an upward trend, due to the trips to Asia, that presented considerable interest and pulled the market upwards. SMX’s rates regarding transatlantic trips decreased at $18-19,5 K / day and to Asia increased at $22,5-24 K / day. ECSA’s are kept on being under pressure, since supplied capacity increased and most available vessels (that are limited) are concern trips for the end of the month. SMX’s rates regarding trips to S. E. Asia- China dropped at $25-26,5 K / day and for transatlantic trips (Mediterranean/Continent) at $29,5-30,5 K / day.
Continent’s market moved give or take on the same levels, with limited options for the owners regarding all routes. SMX’s rates regarding round-local trips moved between $16-17 K/ day, for trips with scrap cargo to the Mediterranean between $15-16 K / day and to Asia between $18-19 K / day. In the Mediterranean there was significant movement mainly from the Black Sea and Ukraine, even though the list of bookings is small. Many charterers preferred to wait a potential drop of rates. Indicatively, it is claimed that a SMX for a trip to from the Mediterranean to Asia closed at $19-20 K / day (delivery in Canakkale), to the other side of the Atlantic Basin at $17-18,5 K / day and in the Mediterranean at $17,5-18,5 K / day.
As regards Handies market, in Continent calmness prevail while we are in the heart of summer. It is observed a rather balance between supply and demand. Rates for the bigger vessels of the category, regarding round trips dropped at $15-16 K / day, to the Mediterranean with scrap cargoes at $ 13-14 K /day and for transatlantic trips at $ 13-14 K / day.
In the Mediterranean interest is focused in Ukraine while more and more demands are coming to the market. However, many of them concern same cargoes or they are still in a research level. With that given, rates kept on being under pressure, but there is a restrained hopefulness. Rates of bigger vessels (past 36K tn DWT) regarding trips in the Mediterranean moved between $13,5-15 K / day (delivery at Canakkale), to the Continent between $ 13,5-14,5 K / day (delivery at Canakkale), to the other side of the Atlantic Basin between $13,5-15 K / day (delivery at Canakkale) and to Asia at $16,5-17,5 K / day.
On the other side of the Atlantic Basin, the U. S. Gulf started the week off in slow rhythms. However, during the second half of the week we saw many improvements mainly regarding transatlantic trips. Indicatively, rates of the bigger vessels of the category for trips to the other side of the Atlantic dropped at $14,5-16 K / day and in Asia at $14-15 K / day.
ECSA’s market kept on retreating, since demand is limited and available vessels of the area. However, the improved image of the market in West Africa, gives a sign of optimism that in the end of the month we might see more activity in this side of the Atlantic Basin as well. With that being said, rates of the bigger vessels from ECSA area regarding transatlantic trips (Continent-Mediterranean) moved between $19,5-20,5 K/ day and to Asia between $26-27,5 K/ day.
Asia moved positively in all the individual areas. S. E. Aska, Australia and the Far East presented increased demand with many cargoes in the most routes. In W. C. India and the Middle East’s Gulf the market remained under pressure, while there was competition from the bigger vessels. Rates of the bigger vessels of the category regarding round trips to the Far East and NOPAC closed at $ 16,5-18 K / day, from the S. E. Asia to China at $17-18,5 K / day and from W. C. India to China at $14,5-16 K / day.

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