TNT Dry Freight Review - December 22, 2008

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PANAMAX

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The runup to the Christmas holiday has led to very little new business, and very

little to report.  Some brokers were unavailable for comment as they had

extended the Christmas holiday to include the first few days of this week as

well.  Rates are believed to have remained in the depressed state that they have

been in recetly.

STX Pan Ocean took the Jupiter Applause, 69,000dwt, 1997, for $3,200 daily, on a

trip via Newcastle

Cargil took the Ikan Bilis, 76,000dwt, built 2004, on a round trip from Asia to

Hawaii, for $4700 daily.

Louis Dreyfus fixed the Iron Vassilis, 70,000dwt, 2006, for a coal cargo for

$9.50.

And the Premnitz, 60,000dwt, 1994-built, was taken by Qinfa for an iron ore

cargo for $7.40.

CAPESIZE

========

Rates here were also depressed, with little business reported.

The Erradale, 160,000dwt, 1994, was taken for an ore cargo by Noble Chartering

for $7.50.

HANDY/SUPRAMAX

==============

The upcoming holidays brought little activity to a stable but poor market.

The Gourniati, 29,000dwt, built 1995, was taken by an unknown charterer for a

trip Antwerp - SPJ for $5000 daily.

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Baltic Exchange Daily Fixture/Index List 22/12/2008

BDI 801 (DOWN 17) BCI 1373 (DOWN 50) BPI 583 (UP 8)

BSI 442 (DOWN 12) BHSI 288 (DOWN 4)

Last published BDTI 1252 (DOWN 13) BCTI 838 (UP 2)

TIMECHARTER

'Alam Permai' 2005 87000 dwt  dely Amsterdam 26/28 Dec  trip via St.Lawrence redel Continent $7750 daily - Cobelfret

'Berlin' newbuilding 76524 dwt  dely ex yard Imabari 7/10 Jan 11/13 months trading redel worldwide $12500 daily - grain house

'Pepito' 2001 75928 dwt  dely Fangcheng 25/27 Dec  trip via Indonesia redel Philippines $3000 daily - Norden

'Ikan Bilis' 2004 75750 dwt  dely Taichung 27/31 Dec 2 laden legs 1st leg Indonesia/Hawaii redel Singapore-Japan rge $4750 daily - Cargill

'Coral Garnet' 2007 75500 dwt  dely Japan 28 Dec/2 Jan  trip via NoPac redel Singapore-Japan rge $3200 daily - Louis Dreyfus

'Jupiter Applause' 1997 69123 dwt  dely Fukuyama 22/24 Dec  trip via Newcastle redel China $3200 daily - STX Pan Ocean

'Gourniati' 1996 28387 dwt  dely Antwerp spot  trip redel Singapore-Japan $5000 daily - cnr

ORE

'Erradale' 1994 160000/10 Dampier/Xingang 10/20 Jan $4.75 fio scale/30000sc - Noble Chartering - <fixed last week>

'Premnitz' 1994 60000/10 Krishnapatnam/N.China 28 Dec/8 Jan $7.50 fio 20000sc/15000sc - Qinfa

COAL

'Iron Vassilis' 2006 70000/10 Norfolk & Mobile/Ternuezen & Ghent 5/10 Jan $9.50 fio 5 days shinc - Louis Dreyfus