Tuesday, January 06, 2009
TNT Dry Freight Review - January 06, 2009
PANAMAX
=======
Another decent day for the Atlantic Panamax sector, with sources reporting
additional inquiry for trips out. Demand appears set to outstrip available
tonnage, which may lead to some firmer numbers over the next week. Trips out
are now steady above $8,000 daily, while trans-Atlantic rounds are said to be
earning above $5,000 daily. In the Pacific, the massive amount of tonnage
available continues to weigh on the market, and rates are painfully low.
The Baltic Panamax index was unchanged at 525.
Out of the Atlantic, a Chinese charterer has the 2000-built 74,027 dwt Tian Yang
Feng with January 07-09 delivery Cape Passero for a trip via the US Gulf and
redelivery China at about $8,100 daily.
Cargill took the 1999-built 72,891 dwt Morgan Stanley-relet Deep Seas with
January 15-17 delivery aps Mississippi River for a trip with redelivery
Singapore-Japan range at $8,000 daily plus a ballast bonus of $195,000.
The charterer is also said to have taken the 1997-built 72,424 dwt Brave NV with
January 20-21 delivery Santos for a trip with redelivery Skaw-Cape Passero at
$4,500 daily plus an undisclosed ballast bonus.
Sinochart agreed $7,500 daily for the 2002-built 73,798 dwt Guang Ming Feng with
January 10-12 delivery Hamburg for a trip via the US Gulf and redelivery
Singapore-Japan range at $7,500 daily.
An unnamed charterer took the 1984-built 69,171 dwt Paschalis with January 14-19
delivery Point Comfort for a trip with redelivery in the East at $6,500 daily
plus a ballast bonus of $175,000.
Norden was linked with the 1998-built 70,521 dwt Bianco ID with January 08
delivery Hamburg for a trip via the Baltic and redelivery on the Continent at
about $6,250 daily.
The 1999-built 75,592 dwt Anna has reportedly fixed with an undisclosed
charterer for January 14-15 delivery Fos for a trip via Kamsar and redelivery
Stade at $5,500 daily.
Windrose was said to be the charterer of the 1983-built 66,764 dwt Vitatrader
with January 10-15 delivery Southwest Pass for a trip via the US Gulf and
redelivery Continent/Mediterranean range at $5,000 daily.
It emerged that the 2004-built 77,834 dwt Te Ho recently went to Oldendorff with
prompt delivery UK-Continent for a trip via Murmansk and redelivery UK-Continent
at $4,500 daily.
In Atlantic period business, the 2006-built 75,550 dwt Yasa Unity fixed to Swiss
Marine with January 15-17 delivery Cape Passero for 11-13 months trading and
redelivery worldwide at $12,250 daily.
In voyage business, EZDK has the 2008-built Star of RBD with January 20-29
loading 70,000 tons 10% ore from Ubu to El Dekheila at $6.90.
From the Pacific, the 2006-built 82,849 dwt Yasa Pioneer was said fixed to an
unnamed charterer with January 10-12 delivery Mundra for a trip via west coast
India and redelivery China at $6,500 daily.
Seawin took the 2007-built 74,483 dwt F.D. Cris de Angelis with January 08-09
delivery Port Dickson for a trip via east coast India and redelivery China at
$3,500 daily.
Benemar has the 2004-built 73,800 dwt Padre with January 12-14 delivery Port
Kelang for a trip via east coast India and redelivery China at $3,500 daily.
The 1996-built 73,008 dwt Barito has fixed to Uniwell with January 12-15
delivery passing Singapore for a trip via India and redelivery China at $3,000
daily.
The 1983-built 63,942 dwt Panormos Trader went to Sinochart with spot delivery
Singapore for a trip via Indonesia and redelivery north China at $2,850 daily.
Cobelfret was linked with the 2005-built 76,294 dwt Red Gardenia with January
05-07 delivery north China for a trip via New South Wales and redelivery Japan
at $2,250 daily.
It emerged that the 2008-built 76,444 dwt Ostria S fixed to an undisclosed
charterer with December 30-31 delivery passing Muscat outbound for a trip via
west coast India and redelivery China at $6,000 daily.
CAPESIZE
========
Another quiet day for the Capesize sector, but sources were happy to say that
rates appeared to have steadied in the Atlantic. A trans-Atlantic round was
reported done at $10,650 daily, while a trip out via Brazil made $9,250 daily
for a modern capesize. In the Pacific, a trip back to the Atlantic is said to
now be seeing rates over $6,000 daily. For voyage business, west
Australia/China runs are steady around $5.20-$5.25. The Baltic Capesize index
managed to gain 20 to 1406.
In the Atlantic, Vale is said to have taken the 1996-built 150,393 dwt Samsara
with January 07-12 delivery Antwerp for a trip via Brazil and redelivery in the
Far East at $10,650 daily.
The 2008-built 180,200 dwt Genco Constantine was reportedly fixed to an unnamed
charterer with January 05-10 delivery Immingham for a trip via Brazil and
redelivery China at $9,250 daily.
The 2005-built Elegant Star went to Vale with January 17-26 loading 160,000 tons
10% ore from Tubarao to China at $9.25.
Pacific capesize business heard that TMT recently fixed the 1999-built 172,566
dwt Kohfukusan with spot delivery Chiba for a trip via Hay Point with redelivery
Skaw-Cape Passero at $5,950 daily.
Sinochart reportedly fixed the 2006-built CTM-relet Bulk Hong Kong with January
15-20 loading 180,000 tons 10% ore from west Australia to Qingdao at $5.25.
Rio Tinto Shipping was linked with the 1997-built 153,000 dwt Chrismir with
January 01-06 loading 150,000 tons 10% iron ore from Dampier to Qingdao at $5.20.
HANDY/SUPRAMAX
==============
It was a very limited market for the Handy sector in both the Atlantic and
Pacific basins today. A trip out from Brazil was reported done at $9,000 daily,
while Skaw/Mediterranean business was reported to have fixed at an easier $4,000
daily - but details failed to emerge. For Pacific business, WC India/Far East
saw a Supramax fix at $10,000 daily, while another supramax made $7,000 daily
for a trip back from the Persain Gulf to the US Gulf. There were reports of
some period business having been done, although details were hard to come by.
Word was that short period of about 3-5 months trading would see a number in
the mid-$7,000 daily range. The Baltic Supramax index dropped another 8 to 395,
while the Handysize index was down 2 at 274.
Out of the Atlantic, the 2008-built 58,837 dwt Emmanuel C has gone to Bunge with
January 12-17 delivery south Brazil for a trip with redelivery China at $9,000
daily.
Pacific Handy business included word that the 2005-built 55,700 dwt Helene
Selmer reportedly fixed to an unnamed charterer with spot delivery west coast
India for a trip with redelivery in the East at $10,000 daily.
The 2007-built 58,811 dwt Consolidator went to an unnamed charterer with
early-January delivery passing Muscat outbound for a trip via west coast India
and redelivery Singapore-Japan range at about $9,000 daily.
Pacbasin took the 2008-built 56,300 dwt Crowned Eagle with January 13-17
delivery aps Persian Gulf for a trip with redelivery in the US Gulf at about
$7,000 daily.
In period business, there was talk that the 2001-built 52,000 dwt Akili fixed to
AMN Bulk Carriers with spot delivery west coast India for 3-5 months trading and
redelivery worldwide at about $7,500 daily.
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