Tuesday, January 20, 2009
TNT Dry Freight Review - January 20, 2009
PANAMAX
=======
There remains some fresh inquiry for trips out of the Atlantic, but owners are
very reluctant to send their vessels into the depressed Pacific basin. Premiums
thus far do not appear to be enough to motivate the majority of owners to commit
their vessels. As a result, rates for trans-Atlantic runs or rounds are seeing
a lot of competition for the business on offer with its correspondingly lower
and lower rates. Pacific business was described as "livelier", mostly as a
result of pre-holiday desk-clearing according to some. The Indian Ocean appears
to have recovered some of its spunk, with a rush of fresh inquiry heard today.
Despite the activity, there has been no stimulus on rates to move up. Some
demand remains for short period business with rates in the $6,000-$7,000 range
for an LME. The Baltic Panamax index edged up 2 to 494.
Out of the Atlantic, the 2007-built 73,600 dwt Corona has fixed to SST with
January 19 delivery retro-Gijon for a trip via the US Gulf and redelivery in the
East at $10,000 daily.
An unnamed charterer is said to be closely working the 1988-built 69,355 dwt
Mass Wits with January 25-30 delivery Dunkirk for a trip via Orinoco and
redelivery China at $7,500 daily.
The 1998-built 69,174 dwt Ice Dreamer went to Marin Bulk yesterday with prompt
delivery in the eastern Mediterranean for a trip via the Black Sea and
redelivery in the East at $9,000 daily.
Swiss Marine was linked with the 1998-built 71,571 dwt Esna with January 24-25
delivery Jorf Lasfar for a trip via Colombia and redelivery on the Continent at
about $4,750 daily.
In voyage business, the 2005-built Great Eagle fixed with Cobelfret for February
01-10 loading 70,000 tons 10% coal from Newport News to Hamburg at $5.90.
Pacific Panamax business included reports that Cargill was the charterer of the
1998-built 73,207 dwt Ostende Max with January 19-21 delivery Singapore for a
trip via west coast Australia and Lebanon, with redelivery Cape Passero at
$4,500 daily.
The 2000-built 75,933 dwt Armada-relet Astrale was said fixed on subjects to an
undisclosed charterer with prompt delivery Kakinada for a trip via east coast
India and redelivery China at $4,200 daily.
The 1996-built 72,171 dwt Voge Voyager went to Samsun with January 20-30
delivery passing Kaohsiung for a trip via Indonesaia and redelivery South Korea
at $2,200.
The 2001-built 75,966 dwt Torm Tina has gone to Armada with January 20-24
delivery Tanjung Bara for a trip with redelivery India at $2,000 daily plus a
ballast bonus of $52,000.
In Pacific period business, Swiss Marine fixed the 2000-built 74,271 dwt Tian
Song Feng with January 24-26 delivery Aughinish for 4-6 months trading and
redelivery worldwide at $8,500 daily.
The 2005-built 74,432 dwt Geosand has fixed to Cargill with January 20-30
delivery Qingdao for 4-6 months trading at $6,000 daily.
CAPESIZE
========
Atlantic Capesize business was little heard today, but a trans-Atlantic round
would appear to earn a modern vessel only about $13,000-$14,000 daily. It was a
fairly active day for the Pacific capesize sector, as charterers tried to fix as
much as they can before the start of Chinese New Year festivities.
Unfortunately this has had no corresponding impact on rates, which have
remained at low levels. BHP Billiton and Rio Tinto were very active again
today, taking at least 8 ships between them. The Baltic Capesize index rose 10
to 1719.
In the Atlantic, the 2007-built 177,173 dwt IVS Cabernet has fixed with Swiss
Marine for January 20-25 delivery Skaw-Cape Passero for a trans-Atlantic round
with redelivery Skaw-Cape Passero at $14,000 daily.
The charterer also has the 2006-built 176,800 dwt Ocean Cygnus with prompt
delivery on the Continent for a trans-Atlantic round with redelivery Skaw-Cape
Passero at $13,000 daily.
For Pacific voyage business, BHP Billiton has the 2005-built Nord Power with
February 10-20 loading 160,000 tons 10% coal from Indonesia to 2 ports ARA at
$10.80.
The charterer has also fixed the 2007-built 177,855 dwt Antonis Angelicoussis
with February 01-10 loading 160,000 tons 10% iron ore from Dampier to China at
$5.70.
BHP Billiton agreed the same rate for the 1993-built 161,587 dwt Anangel
Splendour with February 03-10 loading 160,000 tons 10% iron ore from Dampier to
China.
The 2004-built 177,325 dwt Southern Wisdom has reportedly gone to Swiss Marine
with February 01-05 loading 160,000 tons 10% coal from Richards Bay to Rotterdam.
Rio Tinto Shipping was said to have taken the 2007-built 177,833 dwt Genco
London with February 01-05 loading 160,000 tons 10% iron ore from Dampier to
China at $5.40.
The charterer also has the 2005-built Ocean Confidence and the 2004-built Ocean
Queen, each with February 01-10 loading 160,000 tons 10% ore from Dampier to
China at $5.40.
For the same trip, Rio Tinto has reportedly fixed the 2003-built 175,882 dwt
Cape Mars with February 03-10 loading 160,000 tons 10% iron ore at $5.45.
The 1996-built 172,632 dwt Samsun Veritas went to Rio Tinto with February 03-10
loading 160,000 tons 10% iron ore from Dampier to China at $5.50.
HANDY/SUPRAMAX
==============
Atlantic Handy business was fairly active, but sources said rates were only
steady/to slightly easier in most cases. Handysize business predominated, with
very little heard for supramaxes. A poor day for business in the Pacific,
according to sources. Rates are said to have eased again and most new business
originated from India. The Baltic Supramax index gained 3 to 427, while the
Handysize index lost 2 at 283.
From the Atlantic, the 1997-built 26,516 dwt Argyroula fixed with Louis Dreyfus
with January 22-27 delivery Recalada for a trip with redelivery Mombasa at
$7,500 daily.
An undisclosed charterer fixed the 2008-built 28,341 dwt Gladiator with prompt
delivery Canakkale for a trip via the Black Sea and redelivery Tunisia at $4,500
daily.
The 1986-built 28,468 dwt Katarina was said fixed to an undisclosed charterer
with spot delivery west Africa for a trip via Brazil and redelivery in the
Mediterranean at $4,000 daily.
The 2008-built 37,313 dwt Cielo Di Venezia has fixed to an unnamed charterer
with spot delivery Monfalcone for a trip via the Mediterranean and redelivery
Portugal at $3,200 daily.
Pacific Handy business included word that the 1996-built 49,016 dwt Pacific
Mercury has reportedly fixed on subjects to an unnamed charterer with January
24-26 delivery passing Muscat outbound for a trip via west coast India and
redelivery China at a good $8,000 daily.
The 2006-built 55,710 dwt Pos Island fixed to SSOE with end-January delivery
passing Muscat outbound for a trip via South Africa and redelivery India at
$6,500 daily.
Armada Swizterland fixed the 2000-built 50,236 dwt Cosbulk-relet Jin Rong with
January 21-27 delivery Xiamen for a trip with 2 laden legs via Indonesia and
India, and redelivery Singapore-Japan range at $4,500 daily.
The 2002-built 45,635 dwt Star Canopus has gone to Crossword Projects with spot
delivery Umm Said for a trip via Bandar Abbas and redelivery Karachi at $6,200
daily.
The 1994-built 43,656 dwt GO Star went to an unnamed charterer with spot
delivery Fangcheng for a trip via Australia and redelivery in the Red Sea at
$6,500 daily.
Also unnamed was the charterer of the 1984-built 37,744 dwt Team Spirit with
spot delivery east coast India for a trip with redelivery Singapore-Japan range
at $5,000 daily.
The 2001-built 32,256 dwt Aelos fixed to an undisclosed charterer with spot
delivery Mongla for a trip via east coast India and redelivery Singapore-Japan
range at $4,250 daily.
Korean charterers were said to have taken the 2003-built 50,209 dwt Tern with
January 23-25 delivery Jintang for 1-years trading and redelivery worldwide at
$8,500 daily.
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