Wednesday, December 03, 2008
TNT Dry Freight Review - December 03 2008
PANAMAX
=======
Another disappointing day for the Atlantic Panamax sector, which despite an
increase in activity, was unable to achieve any improvement in rates. As
reported, a trans-Atlantic round has been done at $4,800 daily, but the Baltic
Exchange reported today that vessels can be had for similar business at under
$4,000 daily now. From the Pacific, the Indian Ocean seems to be the lifeblood
of the industry for now. A Paradip/China run has been done at $12,500 daily.
While there was still some demand for period tonnage, rates were easier with
$10,300 daily paid for 1-year's trading and an option for a 2nd year at $14,500
daily. The Baltic Panamax index dropped a further 20 today to 539.
The 2008-built 82,549 dwt Manoussos P reportedly fixed to Bunge with December
07-10 delivery aps Canakkale for a trip via the Black Sea and redelivery
Aden-PMO range at $8,500 daily.
The 1995-built 71,741 dwt Pelagia has gone to Fayette with December 05-10
delivery aps Canakkale for a trip with redelivery in the Far East at $8,000
daily.
An unnamed charterer has fixed the 1993-built 73,645 dwt Pacific Paradise with
prompt delivery in the Black Sea for a trip via the U.S. east coast and
redelivery Skaw-Cape Passero at $4,800 daily.
The 2005-built 75,744 dwt Tianjin Pioneer went to D'Amico with December 22-28
delivery aps Richards Bay for a trip with redelivery Italy at $3,750 daily plus
a ballast bonus of $115,000.
Pacific Panamax business included reports that the 2004-built 76,302 dwt
Maritime Taboneo has fixed to an undisclosed charterer with December 05-12
delivery Paradip for a trip with redelivery China at $12,500 daily.
The 2005-built 75,834 dwt GMI-relet Navios Cielo has gone on subjects to an
unnamed charterer with December 09 delivery Cape Passero for a trip with
redelivery in the East at $8,500 daily.
Brownstone has the 2005-built 76,508 dwt Pos Glory with December 12-14 delivery
Mundra for a trip via Goa and redelivery China at $7,500 daily.
D'Amico proved to be the charterer of the 2005-built 75,744 dwt Tianjin Pioner
with December 10-20 delivery Richards Bay for a trip with redelivery Italy at
$3,750 daily plus a ballast bonus of $115,000.
The 1999-built 74,461 dwt Lillian Z has fixed to AWB with December 01-05
delivery Singapore for a trip via southwest Australia and redelivery Jeddah at
$6,000 daily.
STX Pan Ocean was linked with the 2004-built 76,434 dwt Norden-relet Pacific
Breeze with December 17-18 delivery Port Latta for a trip with redelivery South
Korea at $3,000 daily and a ballast bonus of about $100,000.
It emerged that the 1998-built 72,497 dwt Spring Peacock recently fixed to Grand
Ocean with December 03-08 delivery aps Xingang for a trip with redelivery Taiwan
at $3,100 daily.
Also fixed recently was the 1993-built 65,671 dwt Irene with spot delivery
passing Muscat outbound for a trip via west coast India and redelivery China at
$10,000 daily.
In voyage business, Shagang fixed a TBN with December 18-27 loading 72,500 tons
10% ore from Port Latta to Beilun and Haili at $8.10.
GMI took the 2008-built Star of RBD with December 11-20 loading 70,000 tons 10%
coal from Hay Point to Itaquai at $8.00.
In period business, the 2000-built 73,060 dwt Tai Plenty has fixed to Glencore
with December 12-18 delivery in the East for 1-year's trading and redelivery
worldwide at $10,300 daily, plus an option for a second year at $14,500 daily.
CAPESIZE
========
Midweek provided no relief for the Capesize sector, with fresh business reported
done at low rates and owners said to be competing savagely for what business is
on offer. In the Atlantic, Vale was back in the market, taking a modern
capesize for 2-4 months trading at $5,500 daily plus a ballast bonus of
$100,000. From the Pacific, there was a piece of good news in that modern
tonnage fixed a WC India/China run at a better $7,000 daily.but the Indian Ocean
has been the only decent market in the Pacific basin for some time now.
The Baltic Capesize index was unchanged at 830.
Out of the Atlantic, Vale took the 2000-built 169,225 dwt Coscobulk-relet
Marvellous with December 10-20 delivery aps Brazil for 2-4 months trading and
redelivery worldwide at $5,500 daily plus a ballast bonus of $100,000.
In the Pacific, Uniwell was said to be the charterer of the 2001-built 164,18
dwt Kirmar with December 05-15 delivery passing Muscat outbound for a trip via
west coast India and redelivery China at a better $7,000 daily.
The 1990-built 149,416 dwt C. Koreana was reportedly fixed to Kookyang with
December 10-15 delivery Kaohsiung for a trip via Port Kembla and redelivery
South Korea at $3,500 daily.
BHP Billiton was linked with the 2002-built Cape Salvia for December 20-30
loading 160,000 tons 10% ore from Port Hedland to Qingdao at $3.90.
The 1997-built Penelope has gone to Cargill with December 14-20 loading 160,000
tons 10% coal from Richards Bay to Rotterdam at $5.10.
A Kookyang TBN was said fixed to KEPCO with December 21-30 loading 130,000 tons
10% coal from Port Kembla to Taean at $4.50.
HANDY/SUPRAMAX
==============
From the Atlantic, slightly more business surfaced on the Continent today,
mostly grain to the Mediterranean. Today it didn't appear to matter whether you
were taking a 47,000-tonner or a 26,000-tonner, the price paid for a
trans-Atlantic run was $8,500 daily. Trips to the Pacific were not nearly so
attractive, with a modern 28,000-tonner reported fixed for a trip from the
Continent to WCCA at just $5,000 daily. Period business was still noted and
rates for about 1-year's trading are about $11,000 daily. In the Pacific, all
eyes remained on the Indian Ocean which continues to provide much of the new
business seen of late. The Baltic Supramax index lost 18 at 579, while the
Handysize index fell 3 to 307.
From the Atlantic, the 2000-built 47,980 dwt Lian Hua Hai fixed to Strategic
with December 06-10 delivery in the US Gulf for a trip with redelivery Morocco
at $8,500 daily.
TPC Korea was said to be the charterer of the 1997-built 26,517 dwt Bludance
with December 10 delivery Recalada for a trip with redelivery on the Continent
at $8,500 daily.
The 2001-built 28,287 dwt Sea Riches has reportedly fixed on subjects to an
unnamed charterer with December 5-12 delivery on the Continent for a trip with
redelivery west coast Central America at $5,000 daily.
In Atlantic period business, it emerged that TMT recently fixed the 2005-built
53,350 dwt Mairouli with December 20-30 delivery north Brazil for 1-year's
trading and redelivery worldwide at $11,000 daily.
Pacific Handy business heard that an undisclosed charterer has taken the
2006-built 53,565 dwt Spar Canis with December 05-07 delivery Chittagong for a
trip via east coast India and redelivery China at $12,000 daily.
The 2001-built 50,296 dwt Hawk 1 also fixed with an unnamed charterer for
December 05-10 delivery Haldia for a trip with redelivery China at $10,000 daily.
The 2003-built 53,125 dwt Rea fixed to an unnamed charterer with spot delivery
Singapore for a trip via India and redelivery Singapore-Japan range at $7,000
daily.
An undisclosed charterer reportedly fixed the 2007-built 56,071 dwt Nord Harmony
with December 05-07 delivery dop Rizhao for a trip with redelivery west Africa
at $5,000 daily.
IVS was linked with the 1996-built 44,382 dwt Noni for December 12-18 delivery
Maputo-Durban range for a trip with redelivery in the Atlantic at $4,500 daily.
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