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Thursday, May 28, 2009

TNT Dry Freight Review - May 26, 2009

PANAMAX

=======

Atlantic Panamax business was steady/slightly up today as sources reported only

a limited offering of new business, particularly on the trans-Atlantic trades.

There was said to be some hope of cape splits as talk circulated that cape

owners were asking for tremendous gains on runs to the East.  However, this was

discounted as very unlikely by most.  Tight tonnage availability continued to

provide support to the market.  Out of the Pacific, rates were said to be

firming on short tonnage lists and good demand.  The Baltic Panamax index rose

76 today to 2369.

Out of the Atlantic came word that Norden has reportedly fixed the 2006-built

76,465 dwt Maritime Baqui with spot delivery Portbury for a trip via the Baltic

and redelivery UK-Continent range at $28,000 daily.

The 2004-built 76,801 dwt Bahia has gone to Pacific Bulk with May 25-28 delivery

dlosp Ghent for a trip via Orinoco with redelivery China at $26,750 daily.

The 2004-built 76,616 dwt Medi Vitoria went on subjects to EDF with May 30-31

delivery Cape Passero for a trans-Atlantic run with redelivery Skaw-Cape Passero

at $25,500 daily.

Louis Dreyfus was linked with the 2001-built 74,600 dwt Altair for June 11-20

delivery east coast South America for a trip with redelivery in the East at

$24,500 daily plus a ballast bonus of about $600,000.

The 2007-built 92,567 dwt Eptalofos has gone to Swiss Marine with May 24-26

delivery Immingham for a trip via the U.S. Gulf and redelivery Sweden/Finland

range at $24,500 daily.

The charterer also fixed the 1997-built 73,606 dwt Omegas with May 24-26

delivery passing Muscat outbound for a trip via Richards Bay with redelivery

Skaw-Cape Passero range at $12,000 daily.

It emerged that the 1996-built 74,012 dwt Seawind went to Oldendorff late last

week with May 28-31 delivery Amsterdam for a trip via the Baltic and redelivery

Skaw-Cape Passero at $22,000 daily.

Atlantic period business included reports that the 2000-built 74,293 dwt Great

Intelligence has fixed with Norden for end-May/early-June delivery in the

Atlantic for 4-6 months trading with redelivery worldwide at $25,000 daily and

the first leg said to be USEC/India business.  

Proline fixed the 1995-built 70,728 dwt Voge West with May 28-30 delivery Brake

for about 3-5 months trading at $19,500 daily.

In the Pacific, JK Shipping agreed a firmer $19,000 daily for the 1999-built

75,462 dwt Seaguardian with May 30-31 delivery Xingang for a trip via NoPac and

the Persain Gulf, with redelivery passing Muscat outbound at $19,000 daily.

The 2002-built 76,634 dwt CSE Harmony Express has fixed to an undisclosed

charterer with spot delivery Jintang for a trip via Australia and redelivery

China at $19,000 daily.

Pacific Bulk reportedly took the 2008-built 76,500 dwt RBD Fiuggi with prompt

delivery Zhanjiang for a trip via east coast Australia and redelivery China at

$17,500 daily.

An unnamed charterer will pay $16,500 daily for the 2004-built 76,200 dwt

Pacific Breeze with May 30-31 delivery Kashima for a trip via NoPac and

redelivery in the Far East at $16,500 daily.

BHP Billiton has the 1999-built 72,844 dwt Bunge-relet Alpha Effort with May

30-31 delivery Shanghai for a trip via Australia with redelivery Singapore-Japan

range.

The 1998-built 74,522 dwt Ribbon has gone to Cargill with May 26-30 delivery

Chiba for a trip via Roberts Bank and redelivery China at $16,250 daily.

The 1993-built 73,630 dwt Pacific Prospect has fixed to an undisclosed charterer

with May 26-28 delivery Rizhao for a trip via east coast Australia and

redelivery China at $15,250 daily.

Armada was linked with the 1982-built 63,100 dwt Nikos O for spot delivery Hong

Kong on a trip via Indonesia with redelivery west coast India at $13,000 daily.

For voyage business, the 1990-built Tun Tong Hai fixed to Rizhao Steel with May

27-30 loading 70,000 tons 10% ore from Dalrymple Bay to Rizhao at $14.00.

For Pacific period business, an unnamed charterer has the 2007-built 75,149 dwt

Louis Dreyfus-relet Ecostar G.O. with end-May delivery southeast Asia for 4-6

months trading and redelivery worldwide at about $20,000 daily.

The 2006-built 74,444 dwt Garv Prem has reportedly fixed to STX Pan Ocean with

June 10-25 delivery east coast India for 4-6 months trading and redelivery

worldwide at $18,750 daily.

CAPESIZE

========

Atlantic Capesize activity was very limited today.  The basin appeared to have

trouble shaking off the lethargy of a Bank Holiday in the UK and Memorial Day

activities in the U.S. yesterday.  Owners were also said to be demanding rates

for trips out at levels not seen since early-to-mid-last year.  According to the

Baltic Exchange, owners asked $80,000 daily for trips out this morning.  Pacific

Capesize business took off today, with rates in the Pacific basin roaring back.

An Australia round fixed with modern tonnage at a very strong $59,000 daily.

Period business of about 1-years trading said done at $27,000 daily.  The

Baltic Capesize index soared a stunning 454 today to reach 4797.

From the Atlantic, the 2007-built 171,810 dwt Cargill-relet Anangel Vision was

reported fixed to SK Shipping with June 15-30 loading 170,000 tons ore from

Tubarao to Qingdao at $33.50, or optionally $35.00 if Ponta da Madeira/Qingdao.

Pacific Capesize business saw Rio Tinto take the 2003-built 176,298 dwt Lowlands

Sunrise with prompt delivery south China for a trip via Australia and redelivery

China at $59,000 daily.

The 2001-built 174,000 dwt Corus-relet BW Arctic has fixed on subjects to the

same charterer with June 05-10 delivery Qingdao for a trip with redelivery in

the East at $58,000 daily.

Rio Tinto was linked with the 2004-built 169,724 dwt Aigaion for June 01-05

delivery China for a trip with redelivery in the East at about $56,000 daily.

In addition, the charterer has the 2006-built 174,008 dwt Scope for June 01-05

delivery China for a trip with redelivery in the East at about $52,000 daily.

Vitol was said to be the charterer of the 2000-built 169,150 dwt Marvellous with

June 04 delivery Qingdao for a trip via west Australia and redelivery China at

$55,000 daily.

The 2009-built 171,000 dwt Cosbulk-relet Maha Anosha fixed to Elcano with June

02 delivery Caofeidian for a trip via Saldanha Bay and redelivery Koper at about

$26,000 daily.

In voyage business, Rio Tinto Shipping was linked with the 1997-built Cape

Jupiter for June 15-30 loading 160,000 tons 10% ore from Dampier to Qingdao at

$13.35.

The 2005-built 175,086 dwt Tey May has gone to BHP Billiton with June 10-15

loading 170,000 tons 10% ore from Port Hedland to China at $13.25.

In Pacific period business, the 1995-built 151,688 dwt China Act has fixed to

Bunge with end-June delivery China for 12-14 months trading and redelivery

worldwide at $27,000 daily.

It emerged that the 2008-built 174,000 dwt C. Vision fixed to BHP Billiton last

week with May 20 delivery retro-Rizhao for 3-5 months trading and redelivery

worldwide at $45,000 daily.

HANDY/SUPRAMAX

==============

Out of the Atlantic it was a fairly quiet day for the Handy sector.  Holidays in

the U.K. and U.S. yesterday were still slowing trade today, and rates appeared

to be a touch softer, particularly in the south Atlantic, according to sources.

There was also said to be a longer list of available early vessels weighing on

the market.  Pacific business was also slow today, but sources were reporting

steady-to-slightly-firmer numbers.  The Baltic Supramax index was off 7 at 1830,

while the Handysize index edge up 2 at 871.

Atlantic Handy business heard that MSA Dubai has the 2001-built 50,992 dwt

Achilleus with early-June delivery Nemrut Bay for a trip via the Black Sea and

Persian Gulf, with redelivery passing Muscat outbound at $36,000 daily.

Bunge has the 2001-built 52,404 dwt Ocean Morning with May 23 delivery

retro-passing Durban for a trip via east coast South America and redelivery

Singapore-Japan range at $22,250 daily.

Glencore agreed $15,000 daily for the 1995-built 27,321 dwt CN Jumbos for spot

delivery Kaliningrad on a trip via Poland with redelivery Algeria.

The 1995-built 45,000 dwt Great Majesty has fixed to NYK with spot delivery

Nigeria for a trip via Paranam and redelivery Norway at $15,000 daily.

The 2007-built 58,790 dwt Lowlands Patrasche went to Cargill with June 01-05

delivery Richards Bay for a trip via east coast South America and redelivery on

the Continent at $15,000 daily.

Out of the Pacific basin, the 1999-built 46,677 dwt Oceanic Angel fixed to an

unnamed charterer with May 20 delivery retro-sailing Japan for a trip via Chile

and redelivery Singapore-Japan range at $14,000 daily.

It emerged that the 1995-built 27,900 dwt Armstrong went to Tri-net last week

with prompt delivery Jakarta for a trip via west Australia and redelivery

southeast Asia at $12,000 daily.

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