Thursday, January 15, 2009
Chinese mills would appear to be open for Brazilian business again as the core front-haul route in the capesize market started to heat up.
Cargill has been very active in the past week or two and was the main player pushing spot rates up towards the dizzy heights of $25,000 per day, while Brazil’s own mining giant Vale followed suite.
And plenty of panamaxes were booked for pick-ups in the US Gulf also heading to China, although the rates here were not spectacular, and neither were they in the supramax sector.
Cargill went for a brace of units to run from Europe to China via Brazil. The 171,500-dwt Mineral Belgium (built 2001) is costing $23,000 a day and the 180,200-dwt Linda Dream (built 2007) $1,000 a day more.
Vale is also plying the same route with the 171,000-dwt Aquabreeze (built 2003) and also at the higher figure per day. Constellation is understood to have had the ship on long-term time charter.
Cargill also delved into this market and was one of three players fixing ships for runs from Europe to China via the US Gulf. It paid $7,800 per day for the 76,700-dwt Royal Breeze (built 2002).
Cosco, however, had to find $8,300 for the 75,100-dwt Danae (built 2001) while Sinochart trumped them all with $10,500 daily for the 82,300-dwt Coal Hunter (built 2006).
A Chinese player is also paying $9,000 per day for a run from southern Africa to South America and on to the Far East with the 76,900-dwt Torm Antwerp (built 2008).
And this is what Danzas paid for a trip from Brazil to China with the 71,200-dwt Nord Jupiter (built 2006), although it also had to stump up a ballast bonus of $230,000.
Not much movement in spot rates here but two ships were fixed out of the Persian Gulf for trips to China via India. OBS paid $6,000 for the 55,500-dwt COS Prosperity (built 2006) while Uniwell got the 53,600-dwt Navios Mercator (built 2003) for $1,000 a day less.
A Pacific roundtrip with an Australian pick-up cost one player $5,500 per day with the 53,100-dwt Rea (built 2003).