TNT Dry Freight Review - 24 November 2008

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PANAMAX
=======
Panamax business appears to be setting its sights on a better market
in the New Year, and that being the Chinese New Year.  Atlantic
Panamax business opened the week under some pressure, with very little
fresh inquiry reported and rates edging down.  The Pacific basin
scrambled today looking for cover, but sources said new business
failed to materialize.  As a result, rates moved down again.  The
Baltic Panamax index fell 38 today to 848.
Out of the Atlantic, A.C. Toepfer has agreed $10,000 daily for the
1995-built 70,000 dwt Wadi Alarab with prompt delivery Cape Passero
for a trip via the Black Sea with redelivery Singapore-Japan range.
The 1993-built 69,235 dwt Bet Intruder was said to have fixed with an
unnamed charterer for end-November delivery in the US Gulf for a trip
with redelivery in the East at $10,000 daily plus an unknown ballast
bonus.
An undisclosed charterer fixed the 1987-built 69,229 dwt Maria V with
spot delivery Port Said for a trip via the Black Sea/Persian Gulf/west
coast India, with redelivery Port Said at $6,250 daily.
There were reports that the 2007-built 75,884 dwt Perla Bulker has
gone to Azur with end-Nov/early-Dec delivery Sepetiba for a trip with
2 laden legs and redelivery in the Atlantic at $5,750 daily plus a
ballast bonus of $175,000.
Oldendorff was linked with the 1983-built 66,764 dwt Vitatrader with
spot delivery Rotterdam for a trip via Kamsar and redelivery Aughinish
at $3,000 daily.
Swiss Marine has the 2006-built Coal Gypsy with December 10-20 loading
70,000 tons 10% coal from Bolivar to Porto Torres at $8.00.
Pacific Panamax business heard that the 1997-built 73,762 dwt Kalypso
went to Chokang with spot delivery Singapore for a trip via Indonesia
and redelivery South Korea at $7,500 daily.
Uniwell has the 2004-built 74,444 dwt Erato with November 25-30
delivery Gangavram for a trip with redelivery China at $7,000 daily.
The charterer is also said to have fixed on subjects the 1985-built
65,051 dwt Vinashin Phoenix with end-November delivery passing Muscat
outbound for a trip via west coast India and redelivery China at
$4,500 daily.
Cargill was said to be the charterer of the 2004-built 73,630 dwt
Epanorthosis with November 22-26 delivery Zhangjiagang for a trip via
Bayuquan and redelivery Amsterdam at  $6,000 daily.
The 1997-built 69,163 dwt YM Cultivation went to SSE with end-November
delivery passing Singapore for a trip via Indonesia with redelivery
Liverpool at $6,000 daily.
In Pacific period business, the 2007-built 76,948 dwt Delphinus went
to an undisclosed charterer with December 10-15 delivery Bukpyong for
11-13 months trading and redelivery worldwide at $15,250 daily.
CAPESIZE
========
Capesize business opened the week just as stagnant as it closed last
Friday.  The Atlantic was moribund, with very little activity.
Although BHP Billiton has been busy booking vessels in the Pacific (as
reported last week), there has been no move up in the market since the
rates paid are very low.  Lloyds List reported today that 25% of the
capesize fleet remains unemployed and market took another hit with
reports that China will increase domestic iron ore production.  The
Baltic Capesize index was off 12 to 955.
>From the Pacific, SK Shipping was linked with the 2002-built CIC Pride
with December 01-10 loading 160,000 tons 10% coal from Tanjung Bara to
Moneypoint at $5.50.
BHP Billiton fixed the 1995-built Bet Scouter with prompt loading
160,000 tons 10% ore from Port Hedland to Qingdao at $4.00.
The charterer also has the 1996-built Bocimar-relet Grand Clipper with
December 01-10 loading 160,000 tons 10% ore from Port Hedland to
Qingdao at $3.90.
HANDY/SUPRAMAX
==============
It was an awfully slow start to the week for the Atlantic Handy
sector, according to sources.  There was said to be some fresh inquiry
from the UK/Continent to the Mediterranean, but not enough to do the
market any real good.  In the Pacific, the Indian Ocean has seen an
influx of new inquiry and there has been an improvement in rates to
reflect it.  Supramax tonnage was fixed west coast India/China at a
better $10,000 daily. NoPac rounds continue to see rates in the $5,000
daily range.  A trip back (Far East/west Africa) was said done at an
unexciting $4,300 daily, but details have yet to emerge. The Baltic
Supramax index edged up 6 to 640, while the Handysize index inched up
3 to 319.
For Atlantic Handy business, the 2002-built 51,215 dwt Samsun-relet
VOC Gallant went to Atlas with early-December delivery aps US Gulf for
a trip with redelivery in the Black Sea at $12,000 daily.
The 1984-built 37,694 dwt Springwood was reportedly fixed to Cargill
with December 05-10 delivery Santos for a trip via east coast South
America and redelivery Skaw-Cape Passero at $8,000 daily.
Clipper reportedly agreed $8,000 daily for the 1996-built 43,764 dwt
K.Gold with spot delivery Providence for a trip with redelivery
Turkey.
Trafigura was linked with the 1997-built 47,000 dwt Genco Carrier with
December 01-05 delivery Puerto Quetzal for a trip with redelivery
Singapore-Japan range at $7,750 daily.
BAI reportedly fixed the 1995-built 28,300 dwt Magic Orient with
spot/prompt delivery Aarhus for a trip with redelivery in the eastern
Mediterranean at $5,350 daily.
>From the Pacific, Uniwell has fixed the 2008-built 56,678 dwt Sanko
King with spot delivery Cochin for a trip via India and redelivery
China at $10,000 daily.
Cargill was said to be the charterer of the 2007-built 55,921 dwt
Neptune Pioneer with spot delivery Kashima for a trip via NoPac and
redelivery east coast India at $5,000 daily.
The 2001-built 52,489 dwt Furness Australia was said fixed to Noble
with early-December delivery Navlakhi for a trip with redelivery China
at $8,500 daily.
An unnamed charterer has taken the 2002-built 51,008 dwt Tai Harvest
with spot delivery Fangcheng for a trip via south-east Asia and
redelivery China at $4,150 daily.
Devi Trading was linked with the 1997-built 47,271 dwt Dubai Guardian
with  end-Nov/early-Dec delivery Mumbai for a trip with redelivery
China at $8,000 daily.