By Brannvoll ApS, Denmark
The USG Supramax spot freight market remains weak with no positive changes observed this month. The spot segment is experiencing a further decrease in rates with the tonnage vs cargo balance in charterers’ favour amid a slow flow of grains, coal and petcoke cargoes from the main loading areas in the North Atlantic.
Freight rates for transportation of a Supramax-lot of petcoke from Houston to ARA ports with spot laycans are at US$18/t on average. Deals for delivery of 50,000t of petcoke from Houston to Iskenderun with spot laycans are around US$22/t on average. Shipping costs for delivery of a Supramax-lot of petcoke from USG to EC India are at US$45/t on average.
Supramax freight rates for petcoke from Houston, USA, 7 March 2019-7 June 2024
In the short term, the sentiment is rather pessimistic, though an influx of new cargoes might change the outlook. Thus, many market players expect an increase in the number of requests for Supramax fleet with June dates so the rates for shipments from USG might at least find support.
