TNT Dry Freight Review - 28 November 2008

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PANAMAX
=======
As expected, the Atlantic Panamax market was very dull today as
American traders were still on the Thanksgiving Holiday long weekend.
>From the Continent, there were some ships done, but rates appeared to
sink a little further, with a trip out via the St Lawrence done at
$7,500 daily.  For Pacific business, the Indian Ocean remained the
torch illuminating a dark sea.  There were a number of fixtures
reported from the area and rates held steady. Haldia/China business
made $8,000 daily, while Mundra/China business fixed in the
$6,000-$6,200 range.  
Atlantic Panamax business included word that Armada has the 2001-built
75,323 dwt Nordems with December 01-03 delivery Rotterdam for a trip
via the St Lawrence and redelivery Singapore-Japan range at $7,500
daily.
The charterer also took the 1995-built 75,473 dwt Richmond with
November 26th delivery retro-Immingham for a trip via Baltimore and
redelivery Gijon at $4,500 daily.
The 2000-built 76,400 dwt Clipper Emperor went to EDF with December
05-07 delivery dop Rotterdam for a trip via Amsterdam and Poland, with
redelivery Skaw at about $5,100 daily.
The 2006-built 74,500 dwt Evangelia Petrakis reportedly fixed to SK
Shipping with November 27-30 delivery aps Richards Bay for a trip with
redelivery Brindisi at $3,750 daily plus a ballast bonus of  $120,000.
It emerged that Cargill fixed the 1999-built 72,270 dwt Alpha Glory on
Wednesday with November 24 delivery Gibraltar for a trip via Santarem
and redelivery Amsterdam at $5,000 daily.
Out of the Pacific, the 1997-built 75,264 dwt Flippo Lembo has gone to
Jaldhi with spot delivery Haldia for a trip with redelivery China at
$8,000 daily.
SST was the charterer of the 1998-built 72,474 dwt Mar Reina with
December 08-12 delivery Haldia for a trip via Paradip and Haldia with
redelivery China at $7,750 daily.
An unnamed charterer fixed the 1995-built 75,100 dwt Voge Prestige
with December 03-08 delivery Mundra for a trip via Goa and redelivery
China at $6,200 daily.
Noble has the 1993-built 69,255 dwt Energy fixed for prompt delivery
Mundra for a trip via west coast India and redelivery China at $6,000
daily.
BHP Billiton reportedly took the 1998-built 74,034 dwt Bahia Blanca
with November 27-29 delivery Guangzhou for a trip via west Australia
and redelivery Richards Bay at $5,500 daily.
The 2004-built 75,611 dwt Star of Nippon fixed to SK Shipping with
November 29-30 delivery Shanghai for a trip via west Australia and
redelivery Jebel Ali at $5,000 daily.
The 1996-built 69,053 dwt Augusta recently went to Noble with prompt
delivery aps Darwin for a trip with redelivery China at $6,100 daily
plus a ballast bonus of $85,000.
It emerged that OBS recently took the 1987-built 64,377 dwt Samsun
Elroy with November 29-30th delivery passing Muscat outbound for a
trip via Goa with redelivery China at $5,500 daily.
Early this week, the 2006-built 76,500 dwt Nord Galaxy fixed to
Oldendorff with end-Nov/early-Dec delivery Gladstone for a trip with
redelivery Taiwan at $5,000 daily plus a ballast bonus of $140,000
daily.
CAPESIZE
========
It was an extremely limited market for the Capesize sector today.
There were said to have been a few vessels fixed in the Atlantic, but
most remained private.  Traders in the Pacific basin apparently went
home early, with no concluded business heard.  Recent reports have the
sound of a mantra when it comes to describing capsizes."too many
ships, too few cargoes" according to a quote from a Forbes.com article
issued yesterday.  The expected slowdown in economic growth for China
in 2009, newly estimated at 7.5% by the World Bank this week will make
any recovery in this market a long-drawn affair.  The Baltic Capesize
index fell 20 to 838.
The 1991-built 150,108 dwt Go Patoro has reportedly fixed to Samsun
with November 26 delivery Taiwan for a trip via east coast Australia
and redelivery South Korea at $4,000 daily.
HANDY/SUPRAMAX
==============
Atlantic Handy business was little heard, although scrap cargoes from
the Continent continue to trickle out.  Trans-Atlantic business saw a
1999-built 49,000-tonner fixed at $9,000 daily.  Older tonnage fixed
at $5,500 daily to the Mediterranean east.  No improvement for
Handysize rates in the Pacific today and actual business was extremely
scarce too.  Some slight demand for period tonnage existed and a
supermax fixed at $5,000 daily for the first 50 days, and $11,000
daily for the balance.  The Baltic Supramax index fell 10 to 622,
while the Handysize index was off just 1 at 315.
In the Atlantic, the 1999-built 48,900 dwt Ken Gallant has gone to an
undisclosed charterer with prompt delivery Santos for a trip with
redelivery in the Mediterranean at $9,000 daily.
An unnamed charterer took the 1985-built 38,888 dwt Sea Flourish with
December 07-10 delivery Flushing for a trip via the Continent and
redelivery in the eastern Mediterranean at $5,500 daily.
Island View Shipping has the 1993-built 26,472 dwt Atlantic Acacia
with December 10-15 delivery Richards Bay-Durban range for a trip with
redelivery on the Continent/Mediterranean at $4,900 daily with
optional redelivery in the US Gulf at $4,000 daily.
Pacific business included reports that Uniwell fixed the 1993-built
43,354 dwt Pacific Vigorous with December 05-10 delivery Mumbai for a
trip with redelivery China at $7,000 daily.
The 1996-built 24,280 dwt Seven Seas has gone to an unnamed charterer
with spot delivery Singapore for a trip via south-east Asia and
redelivery in the Far East at $3,000 daily.
Voyage business heard the Clipper took the 1999-built 73,104 dwt Bunga
Saga 9 with December 07-10 loading 58,000 tons 10% bauxite from Kamsar
to San Ciprian at $5.50.
In period business, the 2002-built 52,479 dwt Lowlands Mimosa fixed to
Eitzen Bulk Carriers with prompt delivery Nantong for 11-13 months
trading and redelivery worldwide at $5,000 daily for the first 50 days
and $11,000 daily for the balance.
OceanConnect Daily Bunker Report - 28 November 2008
Northern Europe