Supramax owners find support in US Gulf grain programme as harvest approaches
Fronthaul enquiry from the US Gulf improved as exporters positioned for the autumn corn and soybean campaign.
Supramax and Ultramax rates from the US Gulf improved this week as grain exporters began booking tonnage ahead of the autumn harvest, brokers reported.
Fronthaul voyages to the Far East attracted the most interest, with owners of Ultramax tonnage positioned in the Atlantic able to secure improved numbers.
The Pacific remained comparatively quiet, with Indonesian coal enquiry steady but insufficient to lift rates materially.
Period interest for geared tonnage was selective, with charterers focusing on short-period cover.
The seasonal grain programme typically provides support for the Atlantic Supramax market through the fourth quarter.
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