Wednesday, November 04, 2009
Baltic Dry Index Nov 3rd 2009
Baltic Dry Index
3185
+82
Baltic Capesize Index
5256
+209
Baltic Panamax Index
3210
+60
Baltic Supramax Index
1813
-7
Baltic Handysize Index
869
+2
Dry Cargo Fixtures
TIME CHARTER
China Steel Responsiblity (built 2003, 175,775 dwt) delivery ex dry dock Shanghai 6/10 Nov trip via West Australia redelivery South Korea $53,000 daily — Korea Line
Yasa Fortune (built 2006, 82,849 dwt) delivery Cape Passero 1/5 Nov trip via Baltimore redelivery South Korea $39,500 daily — Hanjin
Gaurev Prem (built 2005, 73,901 dwt) delivery Rizhao 31 Oct/1 Nov trip via Port Kembla redelivery India $19,500 daily — British Marine — recent
Great Ambition (built 1999, 73,725 dwt) delivery Swinoujscie 30/31 Oct trip via Baltic redelivery Singapore-Japan rge $37,000 daily — Oldendorff
Obelix Bulker (built 1998, 70,529 dwt) delivery Hunterston 2/4 Nov trip via Norfolk redelivery Dunkirk $30,000 daily — Norden
La Donna I (built 1983, 63,880 dwt) delivery aps Los Angeles 20/25 Nov trip redelivery China $17,250 daily +$450,000 ballast bonus — China Glory
Blue Marlin 1 (built 2008, 57,000 dwt) delivery Navlakhi 6/8 November trip via Richards Bay redelivery India $18,250 daily — European a/c
Paguera (built 2003, 53,609 dwt) delivery Tuticorin 6/8 November trip via Richards Bay redelivery India $17,000 daily — Charterer not reported
Riva Wind (built 2005, 53,533 dwt) delivery Jintang 5/10 November trip via Southeast Asia redelivery Singapore-Japan intention Nickel ore $15,500 daily — Charterer not reported
Sealady (built 1995, 42,183 dwt) delivery US Gulf mid November trip redelivery Med approx $24,500 daily — Charterer not reported
PERIOD
Zagreb (built 2008, 79,898 dwt) delivery Sweden 10/20 Nov 12/16 months trading redelivery worldwide $25,000 daily — Atlantic & Oil
S.Nicole Hanjin relet (built 2007, 77,096 dwt) delivery Cape Passero 11/13 Nov 11/13 months trading redelivery worldwide $23,000 daily — Norden
Ocean Spirit (built 1999, 73,807 dwt) delivery Jinzhou 1/5 Nov 5/6 months trading redelivery worldwide $23,250 daily — Swiss Marine
Borak (built 2009, 53,100 dwt) delivery South China 5/10 November 3/5 months trading redelivery worldwide approx $17,250 daily — K2
ORE
Diamond Warrior (built 1986) 180,000/10 Goa/Qingdao mid Nov $16.50 fio 20,000sc/30,000sc — Nedstar
Booming grain trade boosts panamax rates
BROKERS forecast rates for panamax bulk carriers trading in the Pacific region to build on last week’s steady increase, writes Keith Wallis in Hong Kong .
“It is stable to firm,” one Singapore-based broker told Lloyd’s List, describing the Pacific panamax sector. He added that the Pacific market reflected what was happening in the Atlantic basin. “The whole panamax market is up,” he said.
A Shanghai-based broker, who also preferred to remain nameless, said the booming US grain trade had encouraged owners with tonnage in the Pacific to ballast into the Atlantic. But the Singapore broker said the Indian iron ore trade was also strengthening.
A Hong Kong broker agreed and thought this could create the potential for a return to the surge in rates seen two weeks ago.
“Tonnage could get a lot tighter in the next week or two. Very prompt tonnage in the Pacific is already commanding a premium over spot rates and there is scope for significant rates rises this week,” the broker said. He explained that Pacific spot rates were topping $23,800 per day on Monday, but several charters concluded at the end of last week had exceeded this level.
Cosco Qingdao fixed the 1999-built, 72,844 dwt Alpha Effort for a coal cargo from Indonesia to southern China at $24,250 per day. Bocimar took the 2006-built, 75,397 dwt Medi Singapore for a spot charter also with coal from eastern Australia to Taiwan at $23,000 per day.
All three charterers were concluded for loading this week, brokers said.
The Shanghai broker added: “It would not take too much more activity for rates to really catch alight, especially with what is happening in the capesize market, which is already strong.”
The Singapore broker said that while the gains in the capesize sector were not having an immediate effect on Pacific panamax rates, he believed it could only be a question of time if the surge continued.
“Undoubtedly, Pacific panamax rates will rise on the coat tails of the capesize sector the longer the rally in that market goes on,” the broker said.
The gains in the panamax spot market, with north Pacific rates rising by around $800 over the course of last week, spurred further interest in period business.
Geneva-based Windrose took the 2009-built, 92,000 dwt Andreas K for 12-14 months at $20,500 per day. Brokers said the rate was a premium on similar year-long charters concluded a week earlier, but this reflected the premium size of the vessel.
