Tuesday, December 09, 2008
TNT Dry Freight Review - December 09, 2008
PANAMAX
=======
Still a very poor market for panamaxes, with owners competing intensely for
available business. In the Atlantic, there has been talk of business done above
$5,000 daily.but the only such concluded business to emerge fixed and failed.
Pacific business is still seeing some demand for period tonnage, with periods
of about 1-years trading reportedly done at $11,000 daily. However, period
interest does appear to be fading. Spot, modern vessels continue to see very
low numbers, with $2,500 daily reported paid for Indonesia/China business. The
Baltic Panamax index fell another 15 today to 466.
From the Atlantic, the 2003-built 75,834 dwt Navios Cielo has reportedly gone to
Pioneer Navigation with spot/prompt delivery Canakkale for a trip via the Black
Sea and redelivery in the East at $8,250 daily.
Proline has the 2000-built 75,681 dwt Cyclades with December 11-13 delivery
Amsterdam for a trip via Kamsar and redelivery Stade at $3,500 daily.
The 1996-built 75,265 dwt Ever Mighty fixed and failed with Louis Dreyfus for
spot delivery Liverpool for a trip via Brazil and redelivery in the East at
$5,250 daily.
In Pacific business, Cargill fixed the 2004-built 75,583 dwt Ligari with
December 11-13 delivery aps east coast South America for a trip with redelivery
Singapore-Japan range at $5,600 daily plus a ballast bonus of $150,000. This
looks like a sharply improved number, but the Baltic Exchange reported today
that the vessel will have waited 14 days to deliver.
Danzas has the 2001-built 75,996 dwt Torm Tina fixed with spot delivery
Fangcheng for a trip via Indonesia and redelivery China at $2,500 daily.
It emerged that the 2005-built 74,444 dwt Geosand fixed to Noble with prompt
delivery Mundra for a trip via west coast India and redelivery China at $6,000
daily - the business had earlier been reported done at $7,500 daily, but that
was incorrect.
The 1995-built Antonis G. Pappadakis was said fixed to GMI with December 09-19
loading 70,000 tons 10% coal from Banjarmasin to El Ferrol at $9.00.
In period business, Cargill was said to be the charterer of the 2007-built
82,014 dwt Billion Trader II with December 18-20 delivery Kaoshiung for 11-13
months trading and redelivery worldwide at $11,000 daily.
CAPESIZE
========
The Atlantic Capesize sector was quieter than the Pacific basin. Ships are
reportedly fixing, but much of the business remained private. A trip out was
reported to have seen a modern capesize taken at $5,200 daily plus a $127,000
gross bb. Period business was said to be being done, but details have yet to
emerge. In the Pacific, the market continued to find support in demand for ore
cargoes. Here Rio Tinto and BHP Billiton proved to be major movers in the
market. Rio Tinto has reportedly fixed a minimum of six vessels, although more
information was lacking. The Baltic Capesize index continued to gain, up 53 at
991.
Out of the Pacific, the 1995-built 151,066 dwt Brisbane fixed to Samsun with
December 15-24 delivery Australia for a trip with redelivery in the Far East at
about $3,750 daily.
An unnamed charterer has the 2006-built Mineral Kyushu with December 20-30
loading 160,000 tons 10% ore from west Australia to China at $4.25.
Noble proved to be the charterer of the 2000-built Alpha Century with December
15-25 loading 160,000 tons 10% ore from west Australia to China at $4.25.
Rio Tinto Shipping has fixed the 1992-built Carouge with December 10-20 loading
150,000 tons 10% ore from Dampier to Qingdao at a steady $4.15.
The charterer also has a TBN with December 15-24 loading 120,000 tons 10% ore
from Cape Lambert to Qingdao at the same rate.
The 2004-built Lowlands Phoenix went to BHP Billiton with prompt loading 160,000
tons 10% ore from Port Hedland to Qingdao at $4.00.
HANDY/SUPRAMAX
==============
There was very little concluded business heard for handysizes today, with
business in the supramax sector domination. In Atlantic Handy business, a
Supramax has done a trip out from NCSA/India at a reported $10,500 daily - but
the business is still on subjects. There remained some demand for period
tonnage and rates held steady. Pacific business saw continued fixing of the
larger sizes, but rates have yet to see any improvement. However in the current
economic climate, holding at last dones can only be considered a good thing.
The Baltic Supramax index was off 10 to 523, while the Handysize index dropped
another 1 to 298.
For Atlantic Handy business, Cargill reportedly fixed on subjects the 2008-built
56,140 dwt Ermione with December 12-20 delivery Venezuela for a trip via Tampa
to India at $10,500 daily.
Island View Shipping was linked with the 1985-built 39,132 dwt Steel Might for
December 15-22 delivery aps South Africa for a trip with redelivery UK-Continent
at $4,500 daily.
Interbrau was the charterer of the 2005-built Nord Saturn with December 14-16
loading 48,500 tons 10% barley from Rouen and La Pallice to Huangpu and Ningbo
at $26.00.
Atlantic period business included reports that the 2004-built 52,483 dwt Jaeger
has fixed to Cosbulk with spot delivery in the Mediterranean in d/c for
12-months trading and redelivery worldwide at an unexciting $5,000 daily for the
first 50 days, and $10,500 daily for the balance.
From the Pacific came word that the 2001-built 50,601 dwt Liberty Grace has gone
on subjects to an unnamed charterer with second-half December delivery west
coast India for a trip with redelivery China at $10,500 daily.
Norden was linked with the 2005-built 55,741 dwt Helene Selmer for December
12-20 delivery aps Indonesia for a trip with redelivery India at $7,000 daily.
The charterer of the 2008-built 53,371 dwt Yang Dang Hai remained unnamed, but
took the ship with spot delivery Jianyin for a trip with redelivery on the
Continent at $4,500 daily.
The 2001-built 53,371 dwt Jin Hua Hai has fixed to an undisclosed charterer with
spot delivery Caofedian for a trip with redelivery in the US Gulf at $3,500
daily.
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