Wednesday, November 26, 2008
TNT Dry Freight Review - November 26 2008
PANAMAX
=======
Another very poor day for the Panamax sector, with rates in the Atlantic on an
inexorable slide down. Demand for period tonnage has all but evaporated, with
charterers testing the waters at very low levels and owners refusing to consider
them. While talk circulated of trips out being worth about $9,500 daily for an
modern tonnage, there was a report of a 1999-built vessel fixing well below
that. With the American Thanksgiving Holiday in the U.S. tomorrow, the rest of
the week will be uninspired, as many offices in the U.S. will close Friday too,
for a long-weekend. In the Pacific, still too many ships and not enough
business. Rates stalled and the market was described as "very dull". The
Baltic Panamax index dropped 85 to 719.
In the Atlantic, Bunge was linked with the 2001-built 74,200 dwt Tian Yu Feng
with prompt delivery passing Canakkale for a trip via the Black Sea and Saudi
Arabia, and with redelivery Aden-PMO range at $9,000 daily.
The 1999-built 72,495 dwt Genco Archeron was said fixed to an unnamed charterer
with spot/prompt delivery Fos for a trip with redelivery in the East at about
$7,750 daily.
A Chinese charterer has 3 x Cosco TBNs for March, April and June 2009 loadings
of 60,000 tons 10% hss respectively from Upriver and Bahia Blanca to China at
$32.50.
Pacific Panamax business heard that the 2006-built 75,261 dwt Yasa Team went to
an unnamed charterer with November 2630 delivery Mundra for a trip via west
coast India and redelivery China at $7,250 daily.
STX Pan Ocean has the 1995-built 70,677 dwt National Navigation of Cairo-relet
Royal Ocean with spot delivery north China for a trip via NoPac and redelivery
Singapore-Japan range at $4,000 daily.
CAPESIZE
========
No change at mid-week for the Capesize sector, as the market struggled to find
business amid ever falling rates. About 25% of the world fleet is said to be
idle. In the Atlantic, Cargill fixed a modern 180,000-tonner for a
trans-Atlantic round at $1,000 daily! Forward period business is said to have
paid a 2000-built vessel about $17,500 daily for 1-year's trading, although
details were lacking. Little emerged for the Pacific basin today, with rates
for voyage business still very low. The Baltic Capesize index fell 49 to 883.
Out of the Atlantic, the 2007-built 180,180 dwt MOSK-relet Linda Dream was
reported fixed to Cargill with December 01-05 delivery Immingham for a
trans-Atlantic round with redelivery Skaw-Cape Passero at an unbelievably low
$1,000 daily.
A Chinese charterer has the 1995-built Pacific Enterprise with December 05-15
loading 150,000 tons 10% ore from Saldanha Bay to China at $6.00.
From the Pacific, KEPCO has a Samsun TBN with December 06-15 loading 160,000
tons 10% coal from Abbot Point to South Korea at $4.50.
The same charterer also took an HMM TBN with second-half December loading
130,000 tons 10% coal from Newcastle to Taean at $4.38.
BHP Billiton was linked with the 2003-built Ina for December 17-25 loading
160,000 tons 10% ore from Port Hedland to Qingdao at $4.00.
The 1994-built Erradale has gone to Noble with December 07-14 loading 150,000
tons 10% ore from Goa to Qingdao at $4.00.
HANDY/SUPRAMAX
==============
A very "tough" market in the Atlantic, sources said. There has been some fresh
inquiry for grain and scrap cargoes on the Continent, but the market has no
direction as the business quoted are too few. Pacific Handy business continues
to benefit from the demand for vessels in the Indian Ocean. A Supermax was
reported fixed WC India/China at $9,000 daily. The Baltic Supramax index was
down 4 at 637, and the Handysize index down 3 at 318.
Uniwell was said to be the charterer of the 2008-buit 55,496 dwt Jin Pu with
December 05-06 delivery passing Muscat outbound for a trip via west coast India
and redelivery China at $9,000 daily.
In Atlantic period business, it emerged that the 1998-built 47,428 dwt Great
Majesty recently fixed to an undisclosed charterer with prompt delivery Port
Kembla for 1-year's trading and redelivery worldwide at $8,500 daily.
From the Pacific, the 2004-built 53,552 dwt Medi Cork went to an unnamed
charterer with spot delivery Indonesia for a trip via west Australia and
redelivery Singapore-Japan range at $6,000 daily.
Also unnamed was the charterer of the 2005-built 53,299 dwt Gem of Kilakarai
with spot delivery aps Indonesia for a trip with redelivery China at $6,000
daily.
The 1989-built 26,970 dwt ID Bulker has reportedly fixed to an unnamed charterer
with December 05-05 delivery Gove for a trip with redelivery China at $4,000
daily plus a $30,000 ballast bonus.
0 comments:
Post a Comment