Med dirty Handysize freight rates rebound on tight availability

2013-07-24

Med-Med dirty Handysize freight rates were assessed up five Worldscale points at w140 Monday, their highest in six weeks due to tight availability.

After a month-long slump around w125, shipping sources said that not enough Handysize vessels were available for the end-of-July period, and there had been some replacements on previous fixtures, meaning that other vessels were needed.

"Some vessels have been rejected or refused due to technical reasons and this is the perfect situation for owners' ambitions," said one shipbroker.

Another shipbroker said: "There was a lot of hype in the market on Friday," pegging cross-Med for Tuesday at w140-145 for a 30,000 mt vessel.

Dirty Black Sea-Med Handysize rates have also rebounded in recent days, assessed up w5 at w150 Monday, their highest in seven weeks.

Another shipbroker said the Jade was on subs to Eni loading fuel oil for a laycan of July 29-31 from Kerch, Ukraine to the Med at w152.50. An Eni trader was not reachable for comment.

However some sources said rates could fall in the coming days.

"It's tighter more on the prompt," said a third shipbroker."

There will be 10 ships available in the coming days," said the source, referring to both Black Sea-Med and Med-Med routes.

Source from : Platts

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