A particularly large amount of dry bulk vessels were chartered in the spot market last week to haul South American grain cargoes. This has been seen often during the last few weeks as we are in the middle of South American peak grain export season. 17 dry bulk vessels were chartered last week to haul South American grain cargoes. This was 1 more than the previous week and on par with the trailing four week average. The vessels will be shipping South American grain to buyers in Asia, Europe, and the Middle East.

Only 9 dry bulk vessels were chartered last week to haul Indonesian thermal coal cargoes. This was 9 less than the previous week and down from the trailing four week average. Indian demand for Indonesian thermal coal, in particular, has decreased due to record high Indian power plant coal stockpiles. Coal stockpiles at Indian power plants have increased to approximately 18.5 million tons. This is 7.5 million tons (68%) more than was stockpiled at the start of this year and 3.4 million tons (23%) more than was stockpiled a year ago.

A moderate amount of dry bulk vessels were also chartered last week to haul cargoes from Brazil, Australia, the American/Canadian North Pacific, the US Gulf, and South Africa. 7 dry bulk vessels were chartered last week to haul Brazilian iron ore cargoes. This was 3 more than the previous week and on par with the trailing four week average. The vessels will be shipping iron ore to buyers in Europe, Asia, and the Middle East. 6 dry bulk vessels were chartered last week to haul cargoes from the US Gulf. This was 1 more than the previous week and on par with the trailing four week average. The vessels will be shipping a variety of commodities including coal, petcoke, and grain to buyers in Europe, Asia, and the Middle East.

5 dry bulk vessels were chartered last week to haul Australian iron ore cargoes. This was 1 less than the previous week but par with the trailing four week average. The vessels will be shipping iron ore to buyers in China. 5 dry bulk vessels were chartered last week to ship various cargoes from the North Pacific. This was 3 more than the previous week and on par with the trailing four week average. The vessels will be shipping various cargo including coal and grain to buyers in Asia. 5 dry bulk vessels were chartered last week to haul South African iron ore. This was 4 more than the previous week and up from the trailing four week average. The vessels will be shipping iron ore to various buyers in Asia.

Source from CNSS