Monday, May 04, 2009
TNT Dry Freight Review - May 01, 2009
PANAMAX
=======
Panamax business trended sideways into the long weekend, with sources reporting
very limited activity from either basin. In the Atlantic, a shorter list of
available tonnage raised hopes that fresh inquiry next week could improve rates.
A trip out from Barcelona via the US Gulf was reported done at $20,000 daily.
For the Pacific, backhaul business was said done with 2 laden legs and
redelivery Skaw-Cape Passero at $14,500 daily. Far East/EC Australia rounds
appeared steady in the region of $11,500 daily. Modern tonnage fixed a Far
East/ECSA round at $11,000 and $10,000 daily respectively. Short period
business of 3-5 months trading was heard fixed at a decent $12,500 daily. The
Baltic Panamax index rose 33 to 1556.
From the Atlantic, Noble agreed $20,000 daily for the 1993-built 69,555 dwt Mass
Glory with May 05-10 delivery Barcelona for a trip via the U.S. Gulf and
redelivery China.
Oldendorff was linked with the 2000-built 74,271 dwt Tian Bai Feng with prompt
delivery Colombo for a trip via east coast South America option Richards Bay,
with redelivery India at $14,000.
An unnamed charterer fixed the 2008-built 77,171 dwt Nord Mercury with May 05-08
delivery Taiwan for a trip via east coast South America and redelivery
Singapore/Japan range at $13,000 daily.
Voyage business heard that TTMI was the charterer of the 1992-built 72,329 dwt
Seapowet with May 10-20 loading 70,000 tons 10% coal from Mobile to Immingham at
$13.00.
In period business, it emerged that the 2006-built 76,500 dwt Crest Trader fixed
to Cosbulk last week with May 05-15 delivery Skaw-Cape Passero for 2-years
trading and redelivery worldwide at $14,000 daily.
Out of the Pacific, Pratica was the charterer of the 1999-built 73,705 dwt Darya
Radhe with spot delivery Mylaki for a trip with 2 laden legs and redelivery
Skaw-Cape Passero at $14,500 daily.
Oldendorff has taken the 2006-built 82,926 dwt United Treasure with May 02-04
delivery Tsuneishi for a trip via east coast Australia with redelivery
Singapore-Japan range at $11,500 daily.
OBS was the charterer of the 2002-built 75,971 dwt Grand Victoria with May 04-05
delivery Shanghai for a trip via Indonesia and redelivery India at $11,500 daily.
The 2004-built 75,767 dwt Medi Cagliari will earn $11,500 daily from BHP
Billiton for May 03-06 delivery Kaohsiung on a trip via east coast Australia and
redelivery China at $11,500 daily.
The 2001-built 72,427 dwt Diamond Seas went to Louis Dreyfus with May 03-05
delivery Dalian in d/c for a trip via east coast South America with redelivery
Singapore-Japan range at $11,000 daily.
The 2006-built 75,740 dwt Maritime Hareshio fixed to an undisclosed charterer
with May 07-10 delivery Qingdao for a trip via east coast Australia and
redelivery China at $11,000 daily.
The 2001-built 72,562 dwt Baniyas was reported fixed to an unnamed charterer
with May 12-14 delivery Kwinana for a trip via Geraldton and redelivery China at
$10,000 daily.
It emerged that the 1996-built 75,473 dwt Pasquale Della Gatta went to STX Pan
Ocean earlier this week with May 04-06 delivery Rizhao for a trip via east coast
Australia and redelivery Singapore-Japan rgane at $10,000 daily.
Pacific period business included reports that CTP took the 2005-built 75,656 dwt
Ocean Lyra with May 12-15 delivery Surabaya for 3-5 months trading and
redelivery worldwide at $12,500 daily.
GMI was said to be the charterer of the 2004-built 74,823 dwt Darya Shree with
May 05-15 delivery Shanghai for 3-5 months trading and redelivery worldwide at
$12,250 daily.
CAPESIZE
========
Capesize business ended the week quietly as the May Day holidays started to
bite. The market is basically optimistic, as sources indicated they expect
Chinese demand for iron ore imports is expected to result in a record-breaking
year. According to a report from Lloyds List today, Chinese mills will continue
to import ore since the quality is better than domestic production and spot
prices are currently below break-even levels for domestic producers. Combine
this with reports of vessel scrapping and delays on newbuildings, and there is
hope that the market will see some improvement in the short-term before
beginning a more permanent recovery next year. In the Atlantic, trip out with
ore are steady in the $18.00-$18.50 range. Pacific business was extremely quiet
today, with little to report. The Baltic Capesize index gained 28 to 2376.
Atlantic Capesize business heard that Vitol took a TMT TBN with May 16-25
loading 150,000 tons 10% coal from Port Drummond to Rotterdam at $10.40.
Cargill fixed a MOSK TBN with May 15-29 loading 150,000 tons 10% coal from
Richards Bay to Rotterdam at $7.95.
HANDY/SUPRAMAX
==============
Atlantic Handy business remains the stronger of the two basins, with rates in
the north Atlantic firm. There appeared to be some interest in period fixing,
but details have yet to emerge. Pacific Supramax business fared poorly this
week, with rates easing and fears that cargoes from South America have now been
covered. Owners continue willing to fix at lower numbers to get back to the
more active and profitable Atlantic. There was little concluded business
reported in the Pacific today, with most traders away for the holiday. The
Baltic Supramax index was up 3 at 1430, and the Handysize index moved up 1 to
694.
In Atlantic Handy business, the 2001-built 52,407 dwt Yasa H.Mehmet went to GMI
with May 05-10 delivery Lagos for a trip via north Brazil and Bahrein, with
redelivery passing Muscat outbound at $21,500 daily.
The 1994-built 43,200 dwt Cargill-relet Nena C has gone to Norden with prompt
delivery north Spain for a trip via the Continent and redelivery India via Cape
of Good Hope at $20,000 daily.
Scrap business saw the 2008-built 31,772 dwt Merian Bulker fixed to an
undisclosed charterer with May 04-05 delivery Kvinesdal for a trip via the
Continent and redelivery in the Mediterranean at $20,000 daily.
Eitzen agreed $21,000 daily for the 2003-built 35,200 dwt Valdivia with May
02-03 delivery in the U.S. Gulf for a trip with redelivery UK-Cont/Med region.
From the Pacific, period business reports heard that TMT was linked with a
2009-built 58,000 dwt JJ Ugland TBN for May 2009 delivery ex-yard in the Far
East for 12-months trading and redelivery worldwide at $14,250 daily.
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