Monday, October 06, 2008
TNT Dry Freight Review - 6 October 2008
PANAMAX
=======
The Atlantic Panamax got off to a slow start today, with little
concluded business emerging for the sector. Rates in some areas
appeared to have steadied, but some business has been done at very low
numbers. The over-aged Eleftheria was heard done for a trans-Atlantic
round at $8,500 daily. There were new reports of conflicts between
Brazilian farmers and the government, with no indication yet on how
this may further impact the market. In the Pacific, there were better
numbers heard done, although a lot of fixing and failing has been
occurring. The Baltic Panamax index gained 44 to 2325.
Out of the Atlantic, the 1999-buit 71,161 dwt Go Public has gone to
Cargill with September 22 delivery retro-Swinoujscie for a trip via
Tampa and redelivery India at $19,000 daily plus an equivalent ballast
bonus.
The 1999-built 74,002 dwt Ernst Salamon was said fixed to Transbulk
with October 05 delivery Immingham for a trip via Aaheim and
redelivery Taranto at $18,000 daily.
Louis Dreyfus agreed $16,000 daily late last week for the 2007-built
76,500 dwt Golden Kiji with October 04-10 delivery Portbury for a trip
via the U.S. east coast and redelivery Jorf Lasfar at $16,000 daily.
The 1983-built 64,741 dwt Eleftheria was said fixed to an unnamed
charterer with October 12-22 delivery Egypt for a trans-Atlantic round
with redelivery Skaw-Cape Passero at a very low $8,500 daily.
Suerte 1995 72515 dwt delivery Gibraltar ppt transatlantic round
redelivery Skaw-Cape Passero int grain $17000 daily - cnr
Captain Evangelos NM 1997 71698 dwt delivery Gibraltar spot trip via
UK & Saudi Arabia redelivery PMO $25500 daily - Glencore
In voyage business, the 1998-built 73,605 dwt Transfield-relet Song
Shan Hai went to Navios with October 14-22 loading 70,000 tons 10% ore
from Murmansk to the Continent at $12.00.
Pacific Panamax business included word that the 2001-built 75,321 dwt
Nordweser was fixed to an unnamed charterer with October 06-10
delivery Singapore for a trip via Australia and redelivery Taiwan at
$23,000 daily.
Beteigeuze 2007 77053 dwt delivery Tomokomai 15/25 Oct trip via NoPac
redelivery Singapore-Japan $20500 daily - cnr
NYK has taken the 1994-built 70,000 dwt Golden Joy with October 10-20
delivery Far East for a trip via NoPac and redelivery in the East at
$20,000 daily.
It emerged that NYK fixed and failed with the 2001-built 74,107 dwt
Cretan Wave 2001 with October 06-10 delivery Niihama for a trip via
Abbot Point and redelivery Japan at $20,500 daily. Late word came that
the vessel fixed to Cargill for a NoPac round at $21,000 daily.
Blessing Bulk was the charterer of the 1988-built 76,650 dwt Grand
Anemi with October 04-06 delivery Shanghai for a trip via NoPac and
redelivery on the Continent (int. Flushing) at $16,000 daily.
The 1986-built 69,497 dwt Yao Hai with October 05-10 delivery east
coast India for a trip via Indonesia and redelivery China at $12,000
daily.
CAPESIZE
========
Capesize business opened the week very quietly. In the Atlantic,
there were few cargoes quoted, but rates appeared to be holding at
last dones. A first-half November coal cargo did Richards
Bay/Rotterdam at $16.50. In the Pacific basin, rates held, but
sources said this was the only comfort as there appeared to be no
immediate sign of a turn-around. A Port Hedland/Xingang cargo fixed
around $12.25. The Baltic Capesize index gained another 56 points to
4310.
In Atlantic business, the 1986-built Alina II went to Swiss Marine
with November 01-10 loading 165,000 tons 10% coal from Richards Bay to
Iskenderun at $15.00 basis free das at disport.
>From the Pacific, the 1982-built 208,000 dwt Tinos Warrior was said
fixed on subjects to Oldendorff with October 01-03 delivery
retro-Rizhao for a trip via Brazil and redelivery on the Continent at
$21,000 daily.
Bright Century 1997 160000/10 ore Dampier/Qingdao 25 Oct/5 Nov $12.50
fio scale/30000sc - Classic Maritime
FMG has reportedly fixed the 1985-built 179,000 dwt Hebei Tiger with
end-October loading 160,000 tons 10% ore from Port Hedland to Xingang
at $12.25.
HANDY/SUPRAMAX
==============
A very quiet start to the week from the Atlantic where rates dropped
again. This does not bode well for the rest of the week. A
Continent/India run with modern tonnage has now been done at $20,500
daily. There were not a lot of fresh cargoes offered today, with the
Continent and US Gulf regions particularly quiet. For Pacific
business, an India/Far East run via west coast Australia has
reportedly been offered a low $7,000 daily. The Baltic Supramax index
dropped 88 to 2276 today, while the Handysize index fell 46 to 1123.
In the Atlantic, Custodia reportedly fixed the 2007-built 48,338 dwt
Loyal Union with October 01-06 delivery on the Continent for a trip
with redelivery India at a weaker $20,500 daily.
Pacific business heard that the 2007-built 58,700 dwt Transfield-relet
Lycavitos has fixed to an undisclosed charterer with October-December
2008 delivery in the Pacific for a balance of period of about 11-13
months trading at about $29,750 daily.
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