Slight correction of the Pacific market is observed due the frequent COVID-19 cases detection at the CJK and Indian regions, which resulted in congestion and long waiting at the main ports of the Pacific region. 29k vessel was fixed for TCE USD 30k for the voyage from PG to Singapore, and the backhaul for 33k vessel was fixed at the rate of TCE USD 26k.
According to Arabian officials, ships passing through the Red Sea might be at risk from Yemen rebels again. Due to specifics of the region, Owners whose fleet opens at the Red Sea area look for the TCE around USD 38k to the CJK and ECI directions.
The Atlantic still remains positive; the voyage from Continent to ECI for Supramax rated for USD 56 pmt with grains.
The grain harvest season starts at the Black Sea, but due to abundance of Handymax/Supramax tonnage in the region, the freight level has corrected. Voyage from the Black Sea to West Mediterranean was fixed for TCE USD 23k with option for Egypt discharging for TCE USD 21k.
Steel scrap from Continent/Baltic becomes even more popular: the voyage to East Med direction for Supramax was at the rate of USD 47 pmt, which remains one of the lowest level seen. In general, there are minor fluctuations in freight levels worldwide, and the market still remains positively stable.