Friday, January 30, 2009
TNT Dry Freight Review - January 30, 2009
PANAMAX
=======
Panamax business closed the week in a very positive frame of mind. Sources said
there was a good level of inquiry being heard in the market and rates are
expected to firm next week on the back of limited spot tonnage. There remains
ongoing demand for period tonnage, with periods of about 1-years trading
reported done in the high-$12,000 daily range. Fronthaul business saw older
tonnage fixed at $9,500 daily, with a trans-Atlantic run done at $7,500 daily
plus a ballast bonus of $205,000. For Pacific business, there was some
improvement today, with rates apparently pulled up a little on the back of
optimism for next week. Tonnage has tightened somewhat, with vessels in ballast
and demand for period tonnage. Short period business of 4-6 months trading are
seeing rates holding to the north of $8,000 daily. The Baltic Panamax index
jumped 76 to close the week at 795.
For Atlantic Panama business, an unnamed charterer reportedly fixed on subjects
the 2007-built 75,884 dwt Pioneer Navigation-relet Perla Bulker with
end-January/early-February delivery Rotterdam for a trip via the US Gulf or
ECSA, with redelivery in the East at $14,000 daily.
Glencore was said to be the charterer of the 1987-built 67,232 dwt Turnberry
Glory with spot delivery Cape Passero for a trip via east coast South America
and redelivery in the Far East at $9,500 daily.
The 1998-built 70,529 dwt Obelix Bulker (ex-Great Pescadores) has gone to
Cobelfret with February 06-10 delivery Charleston for a trip via the U.S. east
coast and redelivery on the Continent at $7,500 daily plus a ballast bonus of
$205,000.
The 2002-built 73,000 dwt Nicos L was reported fixed to Cargill with spot
delivery Singapore for a trip via east coast South America and redelivery in the
East at $7,250 daily.
Deiulemar has the 1999-built 73,725 dwt Great Ambition fixed for February 05-10
delivery Amsterdam for 11-13 months trading, with redelivery worldwide at
$12,750 daily.
Pacific Panamax business heard that Golden Ocean took tonnage today, fixing the
2006-built 82,379 dwt (geared) Prem Varsha with February 01-05 delivery Xingang
for a trip via NoPac and Iraq, with redelivery passing Muscat outbound at
$10,500 daily.
The charterer also fixed the 1990-built 70,424 dwt (geared) B Oceania with
February 04-06 delivery Zhanjiang for a trip via NoPac and Iraq, with redelivery
passing Muscat outbound at $10,000 daily.
The 2008-built 83,000 dwt Manousos P has reportedly fixed with Oldendorff for
February 01-05 delivery passing Muscat outbound for a trip via Richards Bay and
redelivery China at $7,500 daily.
Alfred C. Toepfer was linked with the 1995-built 72,515 dwt Suerte with spot
delivery Zhangjiagang for a trip via NoPac and redelivery in the Red Sea at
about $4,900 daily, or about $4,750 daily for redelivery in the Persian Gulf.
In Pacific period business, GMI was the charterer of the 1997-built 75,339 dwt
Cosbulk-relet Gurasis with February 10-15 delivery Shanghai for 4-6 months
trading and redelivery worldwide at $8,250 daily.
The charterer also has the 2002-built 76,662 dwt Crown Star with February 05-07
delivery Onahama for 4-6 months trading and redelivery worldwide at $8,000 daily.
CAPESIZE
========
Atlantic Capesize business appears to have successfully navigated a week fraught
with the potential for disaster. Sources said that while activity has been
limited in light of the Chinese New Year celebrations, rates have held steady.
Today most sources felt that with the return of holidaymakers next week,
business will pick up markedly and rates are expected to firm. Sources reported
an influx of new business with limited tonnage availability. There are ships in
ballast, but they will be for more forward dates. Pacific business will likely
see some improvement too next week, but here rates have been mixed, with some
easier and some slightly better numbers reported over the course of the week.
Upward momentum slowed for the Baltic Capesize index today. The index rose 9
to 1981.
From the Atlantic, Rio Tinto Shipping was back in the market, reportedly fixing
on subjects the 1986-built 171,931 dwt Andros Warrior with February 01-05
delivery Piraeus for a trip via Seven Islands and redelivery China at $32,500
daily.
The charterer was also said to have the 1987-built 146,019 dwt Leon V on
subjects with February 03-10 delivery Piraeus for a trip via Seven Islands and
redelivery China at $30,000 daily.
In voyage business, Noble has the 1986-built 194,744 dwt Kassos Warrior on
subjects for February 10-15 loading 170,000 tons 10% iron ore from Saldanha Bay
to China at $11.00.
Out of the Pacific, Noble has the 1987-built 183,316 dwt Leonidas Warrior with
February 05-08 delivery Rizhao for a trip via Brazil and redelivery China at
about $15,500 daily.
Noble has a Chinese TBN with February 15-24 loading 160,000 tons 10% ore from
Dampier to Qingdao at $5.50.
For Pacific period business, the 2001-built 170,726 dwt Alameda has gone to
Classic Maritime with end-February delivery in the Far East for 2-years trading
with redelivery worldwide at $21,000 daily.
HANDY/SUPRAMAX
==============
There appeared to be no end to the positive spin in the marketplace today, with
talk that tonnage availability is finally starting to tighten. Atlantic tonnage
saw a fresh influx of demand for scrap cargoes from the Continent. Rates for
this business are now said steady in the mid-$7,000 daily range. Pacific
business saw the Indian Ocean return to its favoured position as market-maker,
with rates firming for trips to China and $10,000 daily reported done.
Elsewhere it was harder to call, but as for the larger sizes, everyone seems to
believe that the return of Chinese traders next week will result in an uptick
for the market. West Australia rounds ranged from the low-$4,000's daily to the
mid-$5,000's daily depending on need and delivery. The Baltic Supramax index
gained 24 to 512, while the Handysize index moved up 5 to 300.
Out of the Atlantic came news that Raffles has the 1995-built 52,370 dwt Mastro
Giorgis 2 with spot delivery east coast U.S. for a trip with redelivery
Singapore-Japan range at $8,500 daily.
Norden was linked with the 1997-built 47,200 dwt STX Pan Ocean-relet Blest
Marine for end-January/early-February delivery Santander for a trip via
UK-Continent and redelivery in the eastern Mediterranean with scrap at about
$7,500 daily.
The 2007-built 55,800 dwt Sanko-relet KT Venture was linked to Bunge with
February 01-05 delivery Montoir for a trip via east coast South America and
redelivery Singapore/Japan range at about $7,500 daily.
Empros Lines has reportedly taken the 1995-built 42,183 dwt Sealady with
February 01-05 delivery aps Rio de Janeiro for a trip with redelivery West
Africa at $7,300 daily plus a ballast bonus of $100,000.
The 1996-built 46,493 dwt Go Trader has fixed with Oldendorff for February 02-08
delivery Canakkale for a trip via the UK and redelivery in the East at $7,000
daily.
An undisclosed charterer reportedly fixed the 2003-built 31,817 dwt Papua with
end-January delivery Port Sudan for 6 months trading with redelivery in the
Atlantic at $6,800 daily.
The 1982-built Polydefkis P has gone to Louis Dreyfus with February 01-04
loading 21,000 tons grain (990,653 cft agriproducts stowing 54 cft) from
Paranagua to Sete at a lumpsum amount of $390,000.
It emerged that Sims Metals recently fixed the 1986-built Lion with prompt
loading 33,000 tons 10% scrap (stowing 45 cft) from the U.S. east coast to
Turkey at $15.00.
Atlantic period business heard that GMI fixed the 2000-built 52,400 dwt Star
Delta with February 15-30 delivery in the US Gulf for about 1-years trading and
redelivery worldwide at $11,300 daily.
From the Pacific, Ikhlas reportedly fixed the 2002-built 53,904 dwt Alitis with
February 10-16 delivery Mumbai for a trip via west coast India and redelivery
China at 10,000 daily.
The 2005-built 53,299 dwt Gem of Kilakarai fixed to an unnamed charterer with
spot delivery passing Muscat outbound for a trip via west coast India and
redelivery China at $7,750 daily.
The 2005-built 28,000 dwt CS Savannah has reportedly fixed to an undisclosed
charterer with February 04-08 delivery Surabaya for a trip via west Australia
and redelivery in the East at $5,500 daily.
Oldendorff has taken the 1997-built 27,365 dwt Hanjin Calcutta with February
01-03 delivery Singapore for a trip via west Australia and redelivery
Singapore-Japan range at about $4,250 daily.
The 2007-built 55,418 dwt Tai Hunter has gone to an unnamed charterer with
February 01-03 delivery Taichung for a trip via Australia with redelivery India
at $4,200 daily.
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