Not only did fixing activity in the West Coast market decline this week, but levels also dropped significantly compared to the previous week. Very few fixtures were reported, as many charterers covered their requirements with their own tonnage and then stepped back from the market. Most first-half April requirements have already been covered, and with signs of a softening market, charterers prefer to wait before firmly fixing second-half April business. Additionally, current bunker prices continue to make it challenging for operators to commit to forward full cargoes on a TBN basis, and they also render ballasting opportunities toward ECSA largely unfeasible. With most markets within the Atlantic currently declining, participants appear to be in a wait-and-see mode before making any significant moves.
This week began quietly for USG Handysizes, with little reported activity during the first two days. The market continued to soften toward mid-teen levels, driven by negative sentiment linked to bunker prices and an increasing tonnage count in the region. Some fixtures were reported in the mid- to high-teens, but the overall trend remained clearly downward. A small source of optimism for the coming month emerged from market rumours suggesting increased cargo availability, which could help absorb the growing tonnage supply.