Thursday, January 08, 2009
TNT Dry Freight Review - January 08, 2009
PANAMAX
=======
Sources were still reporting steady numbers for trips out from the Atlantic
today. An LME made $8,750 daily plus a $250,000 bb for an ECSA/Far East run,
while a 1997-built ship made the same on USG/Far East business. Pacific
business remained a very tough market, with most rates reported for business to
China around $2,000 daily or less! Even the once strong Indian Ocean saw a
China round done at $1,800 daily. There is still some limited demand for period
tonnage at steady numbers, but the recent downturn in futures trading may see
this dry up completely. The Baltic Panamax index inched down 1 to 532 today.
Out of the Atlantic, Cargill took the 2001-built 76,300 dwt Ji May with January
18-24 delivery Recalada for a trip with redelivery Singapore-Japan range at
$8,750 daily plus a ballast bonus of $250,000.
STX Pan Ocean was said to have taken the 1997-built 73,762 dwt Kalypso with
January 20-25 delivery in the US Gulf for a trip with redelivery Singapore-Japan
range at $8,750 daily plus a ballast bonus of $250,000.
The 2001-built 76,296 dwt CIC Piraeus fixed with Oldendorff for January 06-10
delivery Canakkale for a trip via the Black Sea and redelivery China at $8,000
daily.
The charterer also took the 2006-built 75,331 dwt Anastasia with January 10-12
delivery Immingham for a trip via Murmansk with redelivery on the Continent at
$4,750 daily.
Raffles proved to be the charterer of the 1998-built 73,056 dwt Brugge Max with
January 20-30 delivery River Plate for a trip with redelivery China at $7,500
daily and a $220,000 ballast bonus.
The 2007-built 76,500 dwt Golden Kiji went to Louis Dreyfus with January 14-18
delivery Praia Mole for a trip with 2 laden legs, 1st leg Tubarao/River Plate,
with redelivery Skaw-Cape Passero at $5,500 daily plus a ballast bonus of
$160,000.
The 2007-built 76,662 dwt Lady Maria Luisa reportedly fixed on subjects with
Cosco Qingdao for January 20-22 delivery Galveston for a trip with redelivery
China at $9,000 daily plus a gross ballast bonus of $235,000.
The 2003-built 76,629 dwt Pantazis L is said to have fixed on subjects with
Daeyang for January 16-20 delivery Hampton Roads for a trip with redelivery on
the Continent at $5,250 daily plus a ballast bonus of $115,000.
Atlantic period business heard that Louis Dreyfus fixed the 2006-built 75,740
dwt Maritime Hareshio with January 10-12 delivery Fos for 3-5 months trading and
redelivery worldwide at $8,500 daily.
The 2006-built 77,073 dwt Clara reportedly fixed on subjects to Augustea with
January 15-16 delivery Amsterdam for 11-13 months trading and redelivery
worldwide at $12,600 daily.
In Pacific business, the 1995-built 71,252 dwt Maratha Messenger has gone to an
unnamed charterer with January 13-18 delivery Tanjung Bara for a trip via east
coast India and redelivery China at $3,100 daily.
Swiss Marine agreed $2,000 daily plus a ballast bonus of $193,000 for the
2005-built 76,629 dwt Marinicki with prompt delivery Manzanillo for a run to
China.
The 1993-built 73,630 dwt Pacific Prospect went to AHT with January 09-12
delivery Lanshan for a trip via east coast India and redelivery China at $2,000
daily.
An unnamed charterer fixed the 2003-built 75,318 dwt Century Star with prompt
delivery Kaohsiung for a trip via east coast Australia and redelivery
Singapore-Japan at $2,000 daily.
Transyang has the 2001-built 74,716 dwt Rosalia D'Amato for spot delivery
Tomogashima on a trip with redelivery Taiwan at $2,000 daily.
An undisclosed charterer secured the 2001-built 74,118 dwt Cos Intrepid for
$1,800 daily with spot delivery Caofeidian for a trip via India and redelivery
China at $1,800 daily.
The 2004-built 76,453 dwt Mulberry Wilton fixed with Louis Dreyfus for January
20-30 delivery aps Seattle for a trip with redelivery Singapore-Japan range at a
low $1,750 daily plus a ballast bonus of $140,000.
In Pacific period business, the 2005-built 76,631 dwt Ariana was reported fixed
to TMT with January 09-11 delivery Lianyungang for 1-years trading and
redelivery worldwide at $6,500 daily for the first 30 days and $11,500 daily for
the balance.
CTP was linked with the 2000-built 74,677 dwt Aldebaran with January 17-18
delivery Montoir for 3-5 months trading and redelivery worldwide at $8,750 daily.
CAPESIZE
========
There was a considerable amount of business reported done today, although much
of it was 'recent'. Atlantic business made fresh gains today, with sources
saying rates are being supported by a tighter tonnage situation. There were
also reports of some ships being delayed as they queue for bunkers, which helped
rates firm as it has taken a number of vessels out of play for the moment.
Trans-Atlantic round are said to be seeing firmer numbers, but details have yet
to emerge. From the Pacific voyage business was reported done well above $7.00,
but sources said it is still a struggle to get better numbers as there are still
a lot of ships out there willing to go for less. The Baltic Capesize index
jumped 112 to 1564.
In the Atlantic, EDF fixed the 1997-built 167,105 dwt Aquagrace early this week
with January 05-07 delivery Fos for a trip via Colombia with redelivery on the
Continent at $6,500 daily.
In voyage business, the 1993-built Eridge went to an undisclosed charterer with
end-January/early-February loading 120,000 tons 10% ore from Itaquai to Qingdao
at $11.25.
Vale reportedly fixed the 2007-built 180,230 dwt Nord Steel with January 20-30
loading 160,000 tons 10% iron ore from Tubarao to Qingdao at $10.00.
The charterer also has the 1994-built C. Queen with January 17-25 loading
150,000 tons 10% ore from Tubarao to China at $10.00.
Vale recently fixed the the 2008-built Swiss Marine-relet Alpha Prudence with
January 20-30 loading 160,000 10% ore from Tubarao to China at $9.90.
The charterer also recently took the 1987-built Kenryu Maru with January 15-25
loading 200,000 tons 10% ore from Tubarao to Qingdao at $9.75.
The 1991-built Star Ypsilon reportedly fixed to EZDK with January 18-27 loading
150,000 tons 10% ore from Narvik to El Dekheila at $3.90.
In Pacific voyage business, the 1985-built Jimnoble has fixed with Rio Tinto
Shipping for February 01-015 loading 140,000 tons 10% coal from Newcastle to Map
Ta Phut at $7.50.
A Japanese TBN was reported to the same charterer with January 20-30 loading
140,000 tons 10% coal from Dalyrmple Bay to Rizhao at $7.15.
As well, Rio Tinto took the 1991-built Cape Africa with January 19-25 loading
150,000 tons 10% ore from Dampier to Qingdao at $6.10.
Noble was linked with the 1991-built CHS Star for January 16-20 loading 150,000
tons 10% ore from Dampier to China at $5.50.
Earlier business included BHP Billiton taking a COSCO TBN recently with January
24-30 loading 160,000 tons 10% ore from Port Hedland to China at $5.80.
The charterer also recently fixed the 2006-built Royal Chorale with January
16-26 loading 160,000 tons 10% coal from Hay Point to Rotterdam at $11.25.
HANDY/SUPRAMAX
==============
Reportedly a busier day in the Atlantic today, but details of much of the
business done remained private. Rates have yet to see any lasting improvement
and there is still too much tonnage for current levels of inquiry. Pacific
Supramaxes are still suffering, with EC India/China business reported done at a
low $3,250 daily for a very forward date. The Baltic Supramax index was off by
1 at 389, while the Handysize index fell 2 to 270.
For Atlantic Handy business, TMT reportedly took the 2008-built 56,560 dwt
Fanoula with mid-January delivery in the US Gulf for a trip with redelivery
Singapore-Japan range at $8,200 daily.
An undisclosed charterer reportedly fixed the 2002-built 50,000 dwt Legend
Phoenix with January 15-17 delivery Houston for a trip with redelivery India at
$7,500 daily.
Island View Shipping took the 1985-built 41,424 dwt Attractive with January
15-19 delivery aps Durban for a trip with redelivery UK/Continent at $7,350
daily.
Armada has the 1997-built 42,717 dwt Heng Chang fixed for spot delivery Houston
for a trip with redelivery Spain at $4,500 daily.
Period business saw the 2007-built 53,000 dwt Jiu Hua Hai fix to Armada with
January 20-25 delivery in the US Gulf for 3-5 months trading and redelivery
worldwide at $8,400 daily.
From the Pacific, an unnamed charterer took the 2003-built 50,326 dwt Free Lady
with January 14-17 delivery passing Muscat outbound for a trip via west coast
India and redelivery China at $6,500 daily.
Sunrise was said to be the charterer of the 2004-built 55,628 dwt Bianco Dan
with January 12-16 delivery Guangzhou for a trip via Vietnam and redelivery
Singapore at $4,250 daily.
The 2005-built 53,702 dwt Sapphire Seas went to AHT with June 11-13 delivery
Rizhao for a trip via east coast India and redelivery China at $3,250 daily.
NASCO Singapore was the charterer of the 2007-built 53,591 dwt Genco Cavalier
with spot delivery Shanghai for a trip via southeast Asia and redelivery
Singapore at $2,400 daily.
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