Tuesday, March 17, 2009
With little new business reported in the market, Atlantic business has seen
rates drop quickly. The number of ships fixing and failing rose rapidly as
charterers reacted to the new reality. The Pacific basin dropped too, as owners
no longer have the option to move ships to a stronger Atlantic, while new
cargoes have dried up. The Baltic Panamax index dropped 146 to 1899.
Atlantic Panamax business heard that Cargill fixed the 2000-built 74,717 dwt
Merian for April 01-10 delivery aps Recalada for a trip with redelivery in the
East at $18,000 daily plus a ballast bonus of $700,000.
The 1985-built 66,221 dwt Alkaios fixed to Proline with March 17-20 delivery
Amsterdam for a trip via Kamsar with redelivery Stade at $14,100 daily.
Out of the Pacific, the 2002-built 75,971 dwt Grand Victoria has gone to Grand
China Shipping with spot delivery Aden for a trip via Yuzhny and redelivery
China at $27,000 daily. The business was done either late last week or Monday.
An unnamed charterer agreed $21,000 daily for the 1988-built 92,470 dwt Taiglory
with March 24-27 delivery Singapore for a trip via the Black Sea with redelivery
Singapore-Japan range at $21,000 daily.
Also unnamed was the charterer of the 1989-built 68,365 dwt Neelam, taking the
vessel with March 20-30 delivery Goa for a trip with redelivery China at $18,500
Chinese charterers reportedly took the 1995-built 71,122 dwt Jag Arnav with
March 11 delivery retro-Mundra for a trip via east coast South America and
redelivery Singapore-Japan range at $17,150 daily.
Cobelfret has the 1995-built 71,695 dwt New Arising with March 25-27 delivery
Surabaya for a trip via Indonesia with redelivery Japan at $16,750 daily.
The 1999-built 73,660 dwt Basic Spirit was reportedly fixed to an undisclosed
charterer with March 20-22 delivery Tokuyama for a trip via Australia and
redelivery in the East at $13,500 daily.
Danzas will pay $12,500 daily for the 1996-built 72,171 dwt Vogevoyager with
March 19-21 delivery Taichung for a trip via Indonesia and redelivery China.
Oldendorff was said to be the charterer of the 1993-built 69,555 dwt Mass
Prosperity with March 21-24 delivery Tomokomai for a trip via Roberts Bank with
redelivery Skaw-Cape Passero at $6,500 daily.
In voyage business, Constellation has fixed a TBN with March 30-April 08 loading
70,000 tons 10% coal from Balikpapan to Hoping at $6.75.
In period business, the 2004-built 74,403 dwt Trans Pacific went to Danzas with
March 23-25 delivery south China for 4-6 months trading with redelivery
worldwide at $14,500 daily.
Capesize business struggled Tuesday to find some positive aspects in the market.
Atlantic business was very limited, with rates said "very positional". Rates
are still dropping in the Pacific despite the limited available tonnage.
Sources appeared to be hanging their hats on the hook of recovery expected when
China and mining companies finalize agreements on the price of ore contracts for
this year. The hope is that the agreements will be reached before the summer,
but there are no guarantees. The Baltic Capesize index was off 114 to 2251
In the Atlantic, the 2006-built Mineral Kyushu went to Vitol with April loading
170,000 tons 10% ore from Tubarao to Qingdao at $17.00.
EZDK was said to have fixed the 1995-built 161,010 dwt Aquabella with March
18-25 loading 160,000 tons 10% ore from Brazil to El Dekheila at $8.35.
From the Pacific, the 1996-built 122,301 dwt Grafton was said fixed to Hanjin
with March 21-23 delivery Qingdao for a trip via Gladstone with redelivery South
Korea at $15,500 daily.
Rio Tinto Shipping reportedly fixed the 2004-built Cyclades with end-March
loading 160,000 tons 10% ore from Dampier to Qingdao at $6.80.
Yet another day of limited inquiry and lower rates in the Atlantic Handy sector.
Sources said there was little fresh business on offer in either basin and that
rates in the Pacific were showing pressure too. Much of the concluded business
reported was said to have been fixed late last week or yesterday. The Baltic
Supramax index fell another 21 today to end at 1673, while the Handysize index
edged up 1 to 800.
Atlantic Handy business included reports that the 2001-built 50,169 dwt Pretty
Lady has gone to Minfreight with March 23-25 delivery Mississippi River for a
trip via Israel with redelivery in the Mediterranean at a good $34,500 daily.
An unnamed charterer fixed the 1997-built 42,584 dwt Don Frane Bulic for March
19-21 delivery Rotterdam for a trip with redelivery in the Far East at $27,500
There was an unconfirmed report that the 1986-built 36,913 dwt Blue Princess
fixed to an unnamed charterer with spot delivery Chekaa for a trip with
redelivery in the Far East at $24,000 daily.
Armada was linked with the 1992-built 43,595 dwt Zenovia with end-March delivery
in the U.S. Gulf for a trip with redelivery on the Continent at $23,500 daily.
Norden has fixed the 1996-built 47,015 dwt Spar Sirius with March 25-30 delivery
dop Rotterdam for a trip with redelivery in the eastern Mediterranean at $17,500
From the Pacific, an unnamed charterer succeeded in fixing the 2007-built 53,629
dwt Delvina with spot delivery Chennai for a trip with redelivery China at
IHC has the 2004-built 28,371 dwt Clipper Lasco with spot delivery Changjiangkou
for a trip via Indonesia and redelivery in the Far East at $9,750 daily.
Shadab was linked with the 2001-built 42,584 dwt Mosor with spot delivery
Tanjung Priok for a trip via Indonesia and redelivery Pakistan at $9,500 daily.
The 2008-built 53,100 dwt Tarsus went to Armada with March 20-25 delivery
Xingang for a trip via Indonesia and redelivery India at $7,600 daily.