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Thursday, April 23, 2009

TNT Dry Freight Review - April 22, 2009

The Panamax market was described as "fragile", as rates for a fronthaul route
were said to have risen to $21,000, even though sources wouldn't name a specific
fixture at this rate. The Evanthia was reported fixed a close $20,000 daily,
for a trip from USG to SPJ, by Louis Dreyfus. This upward pressure seems odd
as inquiry fell. Some speculated that there was some pent up demand and that
rates would continue to rise as Charterers started showing their hands. The
Baltic Panamax index jumped a healthy 80 points to 1746.
The YM Virtue was relet to Hanjin by Siba. It is a 2003-built 76610 dwt ship.
Delivery was S.China 24/27 Apr for a trip via Indonesia, and the rate was $17500
Noble took the Mulberry Paris, 2004-built, 76492 dwt, for delivery to Hirohata
and redelivery in SPJ, for a trip via Australia. Ship went for $14250 daily
And the IVS Pinotage, 2005-built 76500 dwt went to BHP Billiton for dely
Shanghai 25/30 Apr trip via EC Australia redel Med $8000 daily - BHP Billiton
The Tai Progress, built 2007 77834 dwt was taken by Louis Dreyfus for a trip
from Indonesia to Spain, for $7000 daily
In the big ships there was more dry voyage business being done than time
charter. Here too the Baltic index was up 108 points to 2501.
The Genco London, 2007 160000 dwt, was booked by Cosbulk for a coal cargo at
$6.60, from Australia to Qingdao 18-24 Apr.
Rio Tinto took the 1997-built Cape Jupiter, 160000 dwt for an ore cargo from
Dampier to Qingdao 26 Apr-4 May. The rate was $6.20 fio scale/30000sc.
And the Castillo de San Jorge, 1989 160000dwt, was taken by Swiss Marine for an
ore cargo from Richards Bay/Rotterdam 10/24 May, at $7.25 Swiss Marine
The Global Winner, 1997-built, 161121 dwt, was taken by SK Ship for delivery
Antwerp on or about 24 Apr. Trip is via Colombia and redelivery is Skaw-Cape
Passero for $16500 daily.
The smaller ships were faring a bit better too, with the BHSI up 11 to 672.
Asan took the "Master", a 1997-built 24000 dwt ship for $5500 daily. It was for
a trip 23/28 April via S.Korea. Delivery Changjiankou and redelivery Brazil.
Rosita, 2004-built, 52292 dwt, for a trip Chennai-China, went for $10000 daily
to Uniwell
The 2002-built Jin Ping, 50777 dwt, for a trip Canakkale - Far East, via the
Black Sea, went for $22000 daily. The charterer was Glingrow, although details
and rate were not confirmed.
And the "C.Emerald", 1994 42174 dwt, went to Sundial for a week trip 22-29
April, from Paradip to China, for $7600 daily