By Brannvoll ApS, Denmark
The USG Supramax/Ultramax freight market showed positive tendencies during the first half of March, mainly driven by a strong market in the east coast of South America where the grain season is actively gaining momentum.
In the second half of March, USG rates started slipping with fresh demand lacking, coupled with lower fixing activity levels as the market approached the Easter weekend.
Supramax freight rates for petcoke from Houston, USA, March 2019-March 2024
Deals for delivery of 50,000t of petcoke from Houston to Iskenderun with spot laycans are discussed at around US $23.50/t on average, down US$2.50 MoM. Freight rates for transportation of a Supramax-lot of petcoke from Houston to ARA ports with spot laycans are at US$19.50/t on average, down US$1.50 MoM. However, shipping costs for delivery of a Supramax-lot of petcoke from USG to EC India showed a MoM uptick of US$2 to US$49/t on average.
The Panama Canal is seeing less demand, and the Baltimore bridge accident will only have a very limited effect as coal will be diverted.
