Wednesday, January 07, 2009
TNT Dry Freight Review - January 07, 2009
PANAMAX
=======
Atlantic Panamax business managed to hold onto recent gains today, with rates
said to be steady at last done, but only occasionally better. Despite concern
that inquiry may dry up in the second-half of this month there was steady demand
for tonnage today. Cargill was very busy, taking ships on both trip and period
business. Period business of about 1-year was said done at $12,600 daily. In
the Pacific basin, rates dropped to new lows, with Cargill paying just $1,250
daily for a prompt LME from Taichun to Skaw/Cape Passero. The Baltic Panamax
index edged up 8 to 533.
Out of the Atlantic, the 2001-built 76,296 dwt CIC Piraeus went to Oldendorff
with January 12-17 delivery Cape Passero for a trip via the Black Sea and
redelivery in the East at $8,000 daily.
Augustea has the 2000-built 75,681 dwt Cyclades with January 21-26 delivery
Stade for a trip via the U.S. east coast and redelivery on the Continent at
$4,400 daily.
The 1993-built 69,634 dwt Fortezza has fixed to Cargill with January 14-17
delivery in the US Gulf for a trip with redelivery Singapore-Japan range at
$8,500 daily plus a ballast bonus of $250,000.
The 1998-built 74,522 dwt Ribbon also went to Cargill with January 10-15
delivery on the Continent for a trip via the US Gulf and redelivery Skaw-Cape
Passero at $4,500 daily.
The charterer also took the 2008-built 75,181 dwt Anny Petrakis with spot
delivery Aughinish for a trip via Kamsar and redelivery UK-Continent at a low
$4,000 daily.
For Atlantic period business, Cargill was linked with the 2002-built 74,133 dwt
Adriatica Graeca with January 10-12 delivery Barcelona for 11-13 months trading
and redelivery worldwide at $12,600 daily.
In other period business, Louis Dreyfus reportedly fixed on subjects the
2006-built 75,740 dwt Maritime Hareshio with January 10-11 delivery Fos for 3-5
months trading at $8,500 daily.
Pacific Panamax business heard that Worldwide Shipping has fixed the 2006-built
76,737 dwt Maritime Anita with prompt delivery China for a trip via Australia
and the Persian Gulf and redelivery passing Muscat outbound at $4,675 daily.
The 1998-built 70,378 dwt Hanjin New Orleans has gone to Seawin with January
12-14 delivery Port Kelang for a trip east coast India and redelivery China at
$3,500 daily.
SST agreed $2,000 daily for the 2001-built 74,507 dwt Amira with January 05-10
delivery Qinzhou for a trip via India and redelivery China.
The 2004-built 76,453 dwt Mulberry Wilton was said fixed to Louis Dreyfus with
January 08-12 delivery Seattle for a trip with redelivery in the East at just
$1,750 daily plus a ballast bonus of $140,000.
Cargill reportedly fixed the 2003-built 75,730 dwt Red Iris with prompt delivery
Taichung for a trip via Indonesia and redelivery Skaw-Cape Passero at a very low
$1,250 daily.
It emerged that the 1990-built 69,338 dwt Far Eastern Silo has recently fixed to
Hua Lung with end-December/02 January delivery Kaohsiung for a trip via Bandar
Abbas and redelivery China at $2,500 daily.
In Pacific period business, Swiss Marine was said to be the charterer of the
2004-built 76,466 dwt Million Trader with January 14-17 delivery Japan for 11-13
months trading and redelivery worldwide at $11,500 daily.
The 2002-built 73,983 dwt Shen Nong Feng went to Cargill with January 09-15
delivery Shanghai for 4-6 months trading and redelivery worldwide at a very easy
$6,500 daily.
CAPESIZE
========
It appears to be a better market all around for the Capesize sector, with rates
firming gently in both basins. In the Atlantic, there was said to be additional
fresh inquiry from east coast South America for fronthaul business with rates
comfortably in the mid-$9.00 range or higher. In Pacific business, Rio Tinto
stirred things up nicely by taking several vessels spot at rates in the
$6.00-$7.50 range from both west and east coast Australia. There was ongoing
demand for period tonnage, with a newbuilding reported fixed for 11-13 months
trading at about $21,500 daily. The Baltic Capesize index jumped 46 today to
reach 1452.
In Pacific period business, the newbuilding 177,853 dwt Flash has gone to
Cargill with prompt delivery ex-yard SWS for 11-13 months trading and redelivery
worldwide at $21,500 daily.
In voyage business, the 1990-built 151,227 dwt Trinity Bulk was reported fixed
to Kumba Steel with February 10-20 loading 150,000 tons 10% ore from Saldanha to
Qingdao at $8.80.
Rio Tinto Shipping fixed the 2004-built 174,083 dwt Korea Line-relet Mineral
Beijing with January 10-15 loading 160,000 tons 10% ore from Dampier to China at
$6.00.
The charterer was earlier linked with the 1996-built 168,146 dwt Grand Clipper
with January 15-20 loading 160,000 tons 10% ore from Dampier to China at $5.40.
The 1991-built 151,349 dwt Dong-A Ares also went to Rio Tinto for January 10-20
loading 150,000 tons 10% ore from Dampier to China at $5.30.
BHP Billiton was said to have taken a COSCO TBN with end-January loading 160,000
tons 10% ore from Port Hedland to Qingdao at $5.70.
HANDY/SUPRAMAX
==============
Atlantic Handy business once again presented a very gloomy picture, with
available tonnage far outstripping demand. A Supramaxe on US Gulf/Far East
business managed a steady $9,500 daily. Scrap business from the Continent to
the Mediterranean were said to be paying about $4,000 daily, but additional
details have yet to emerge. Pacific business saw a fair amount of period
tonnage, with rates for 1+1 years trading firming to $10,500 daily for the 1st
year and $15,000 daily for the 2nd. The Baltic Supramax index lost another 5 to
390, while the Handysize index inched down 2 to 272.
In Atlantic Handy business, Cargill took the 2002-built 52,512 dwt Western Bulk
Carriers-relet Hector with January 13-16 delivery in the US Gulf for a trip with
redelivery Singapore-Japan range at $9,500 daily.
Pacific Handy business included reports that Eitzen Bulk Carriers have the
2005-built 56,025 dwt Triton Lark with January 14-18 delivery aps Indonesia for
a trip with redelivery India at $6,500 daily.
An unnamed charterer has taken the 2004-buit 29,727 dwt IVS Lavender with
January 18-20 delivery Hobart for a trip via south Australia and redelivery
passing Muscat outbound at $7,000 daily.
Noble reportedly fixed on subjects the 2002-built 53,500 dwt Port Moresby with
spot delivery Manila for a trip via east coast India and redelivery China at
$3,000 daily.
It emerged that the 1984-built 40,045 dwt Nava Eliza recently fixed to CPM with
spot delivery South Korea for with redelivery West Africa at $4,000 daily.
In the Handysize market, Cargill was linked with the 1996-built 28,350 dwt Queen
Asia with spot delivery Sikama for a trip with 2 laden legs and redelivery in
the Far East at about $3,250 daily.
For Pacific period business, Clipper was said to be the charterer of the
2000-built 55,418 dwt Tai Honesty with February delivery Aden/Japan range for
1-plus option 1-years trading and redelivery worldwide at $10,500 daily for the
first year and $15,000 daily for the optional second year.
The 2001-built 51,008 dwt Tai Health went to Oldendorff with spot delivery
Singapore for 1-option 1-years trading and redelivery worldwide at $10,000 daily
for the first year and $14,000 daily for the optional second year.
It emerged that the 2002-built 52,378 dwt Lepta Galaxy recently went to Island
View Shipping with early-January delivery south-east Asia for 2-years trading
and redelivery worldwide at $10,500 daily.
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