Trading Strategy
We plan to TC our vessel(s) for a 5 years period; In our base scenario, we expect cargo demand to grow by 2.5-3.5% in 2023, 0.5-1.5% in 2024 and 1-2% in 2025. Average haul could increase by between 0.5% and 1.5% in 2023 and between 0% and 1% in both 2024 and 2025. From 2024 onwards, there may be a decrease in shipments of coal, which is a commodity with below average sailing distances.
Supramax and handysizeships could benefit from strong demand for grains and minor bulk cargoes. Nonetheless, the large order book for supramax ships may keep supramax rates from rising, particularly in 2024. Handymax: A rebound in grain trade has lifted the one-year time charter rate by 16% in the first four months of 2023 to USD 15,700 per day. The price of a 5-year-old vessel is up 11% to USD 31 million. Handysize: Rates have increased by 6% in the first four months of 2023 to USD 15,200 per day. The price of a 5-year-old vessel increased by 6% to USD 26 million.