A slightly more active week for the West Coast market compared to the previous one, with a few more fixtures reported overall, although nothing particularly remarkable was concluded by the end. Tonnage availability has tightened somewhat across both segments, and most of the remaining requirements are now for April dates. That said, there are still some March vessels that need to be covered. Once again, bunker prices remain the main talking point of the week, as ongoing fluctuations continue to make it extremely challenging for operators to secure forward positions.
The USG Handy market started with a similar tone to last week, with uncertainty driven by the prevailing narrative of oil price volatility. Overall market sentiment pointed toward a downward trend. The tonnage list lengthened further as the week progressed, while the order list also grew noticeably by midweek, providing some degree of balance and tempering expectations of a sharper decline. In terms of fixtures, it was rumoured that some time charters were concluded in the low 20s and high teens. With charterers and owners still positioned at opposing ends of the rate spectrum, the bid-offer gap remained a persistent feature of the market.