Tuesday, February 03, 2009
TNT Dry Freight Review - February 03, 2009
PANAMAX
=======
Atlantic Panamax gave off mixed messages today. Trans-Atlantic rounds saw
firmer numbers, while trips out appeared to stall in a dispute over rate levels.
A large, modern eco-type fixed a trans-Atlantic round at a better $8,500 daily.
Fronthaul business saw tonnage fix to the Pacific in the $13,500-$14,000 daily
range, but sources said owners ideas rapidly outstripped charterer's and little
additional business fixed. Pacific Panamax business picked up significantly
today as owners and charterers started working in earnest. There was an influx
of fresh inquiry and sources indicated that an appreciable amount of early
tonnage was "on offer". Rates for concluded business appeared little changed
from the end of last week, with NoPac rounds still seeing about $4,500 daily.
Demand for short period tonnage remains and rates are holding around $8,500
daily for 4-6 months trading. The Baltic Panamax index gained 39 to 881.
From the Atlantic, Wampol has reportedly fixed the 1998-built 73,700 dwt Angela
Star with spot delivery Fos for a trip via Morocco and redelivery east coast
India at $14,000 daily.
Daewoo was linked with the 1999-built 75,592 dwt Anna for February 09-10
delivery Nouadhibou for a trip with redelivery China at $13,500 daily.
The 2001-built 75,311 dwt Nirefs was said fixed to an undisclosed charterer with
February 05-06 delivery Ghent for a trip via Bolivar and redelivery Italy at a
stronger $8,500 daily.
Oldendorff has the 1999-built 73,035 dwt Celerina with February 05-10 delivery
El Ferrol for a trip via Kamsar and redelivery Aughinish at $7,500 daily.
Cargill was said to be the charterer of the 2001-built 73,931 dwt Cosco Hong
Kong-relet Ecola with February 04-06 delivery Cape Passero for a trip via east
coast South America and redelivery Skaw-Cape Passero at $7,000 daily.
It emerged that Cargill fixed the 2007-built 76,635 dwt Fortune Princess late
last week with February 15-20 delivery Santos for a trip via east coast South
America and redelivery Skaw-Cape Passero at $6,000 daily plus a ballast bonus of
$100,000.
From the Pacific, the 2001-built 75,966 dwt Torm Tina has fixed on subjects to
Jaldhi Overseas with February 10 delivery Kakinada for a trip with redelivery
China at $9,000 daily.
Noble recently fixed the 2001-built 75,249 dwt Iran Yazd with spot delivery
passing Muscat outbound for a trip via east coast South America and redelivery
Singapore-Japan range at $9,000 daily.
Armada was linked with the 1998-built 72,474 dwt Mar Reina with January 31
delivery retro-Xingang for a trip via Indonesia and redelivery India at $4,500
daily.
Pacific period business heard that the 1994-built 70,916 dwt Eastern Queen has
reportedly fixed to Deiulemar with February 08-09 delivery Zhanjiang for 1-years
trading and redelivery worldwide at about $11,250 daily.
STX Pan Ocean has taken the 2001-built 74,492 dwt Alpha Harmony with February
05-07 delivery Hong Kong for 4-6 months trading and redelivery worldwide at
$8,500 daily.
The 2001-built 74,427 dwt Alpha Afovos went to the same charterer with spot
delivery Shanghai for 4-6 months trading and redelivery worldwide at $8,500
daily.
CAPESIZE
========
Tensions eased somewhat for the Capesize sector today as more activity surfaced
and rates moved up somewhat. In the Atlantic fronthaul business for Med/China
runs via Seven Islands fixed old ladies at $30,000 and $32,500 daily
respectively. Voyage business for Tubarao/Qingdao saw an ore cargo fixed at a
better $17.90 and rates are said to have surpassed this, but details have yet to
emerge. Word from the Pacific basin was more talk than action, with several
vessels reported fixed and failed. However, these were said to be quickly
involved in other negotiations, but details of concluded business were scarce.
The Baltic Capesize index jumped a further 89 to 2093 today.
In Atlantic Capesize business, Rio Tinto Shipping reportedly fixed the
1986-built 171,000 dwt Andros Warrior with mid-February delivery Piraeus for a
trip via Seven Islands and redelivery China at $32,500 daily.
The charterer also has the 1987-built 147,000 dwt Leon V with February 12-18
delivery Piraeus for a trip via Seven Islands and redelivery China at $30,500
daily.
BM Minerals was said to have fixed a Classic Maritime TBN with February 20-28
loading 160,000 tons 10% ore from Tubarao to Qingdao at $17.90.
From the Pacific, Noble has the 1987-built 183,000 dwt Leonidas Warrior with
February 05-15 delivery north China for a trip via Brazil and redelivery China
at $15,000 daily.
Voyage business saw KEPCO take a Kookyang Shipping TBN with February 16-25
loading 125,000 tons 10% coal from Newcastle to Taean (S.Korea) at $8.30.
It emerged that the 1984-built Sealink Prosperity went to Wuhan Steel last week
with early-March loading 160,000 tons 10% ore from Port Hedland to Qingdao at
$5.35.
HANDY/SUPRAMAX
==============
A better day for the Handy sector, with tighter tonnage availability helping to
firm rates in the Atlantic. Spot business USG/China was reported done in the
mid-$12,000's daily. Even smaller sizes saw improved numbers, with a
trans-Atlantic run fixing a 28,000-tonner at $8,000 daily. Pacific business
heard a lot of talk about firmer numbers and sources said there had been a lot
of inquiry for ore cargoes India/China, but most business was held private.
The Baltic Supramax index rose 23 to 556, and the Handysize index climbed 13 to
320.
Out of the Atlantic came word that Bunge fixed the 1995-built 44,251 dwt
Hosanger with spot delivery in the US Gulf for a trip with redelivery
Singapore-Japan range at a firmer $12,500 daily - but the ship met particular
requirements.
The 1994-built 43,596 dwt Chinese Eagle reportedly fixed to Daewoo with spot
delivery in the US Gulf for a trip with redelivery Singapore-Japan range at the
same rate.
The smaller sized, 1983-built, 28,788 dwt Seneca did well fixing to Energy with
spot delivery in the US Gulf for a trip with redelivery in the Mediterranean at
$8,000 daily.
The 2005-built 55,695 dwt Pos Freedom reportedly fixed to STX Pan Ocean with
spot delivery dop West Africa for a trip via east coast South America and
redelivery Singapore-Japan range at a steady $8,000 daily.
Oldendorff recently took the 1996-built 45,693 dwt Go Trader with prompt
delivery Canakkale for a trip via the UK and redelivery China at $6,000 daily.
For voyage business, the 1995-built Glyfada fixed to BST with spot/prompt
loading 33,000 tons 10% scrap stowing 50cft from Antwerp to the Sea of Marmara
at $12.00
For Pacific Handy business, the 2008-built 53,000 dwt Georgiana was reported
fixed to an unnamed charterer with spot delivery west coast India for a trip
with redelivery China at $10,000 daily.
Also undisclosed was the charterer of the 1998-built 46,194 dwt Great Majesty,
taking the vessel with February 06-13 delivery aps Krishnapatnam for a trip with
redelivery China at $8,650 daily.
The 1994-built 28,400 dwt Ocean Pearl went on subjects to an unnamed charterer
with spot delivery Kuala Tanjung for a trip via west Australia and redelivery in
the East at about $5,500 daily.
The 1992-built 27,200 dwt Baltic Frontier fixed on subject with an unnamed
charterer for February 19 delivery Surabaya for a trip via Australia and
redelivery in the East at an improved $5,000 daily.
The 2002-built 52,376 dwt Ince Inebolu has reportedly fixed on subjects with
Star for spot delivery Lianyungang for a trip via New Zealand and redelivery in
the East at $4,500 daily.
The 2007-built 55,000 dwt Alam Manis was rumoured fixed to an undisclosed
charterer with February 13-16 delivery Haldia for a trip with redelivery China
at a much stronger $20,000 daily - however confirmation was not forthcoming.
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