Market Reports
4/5/2012

Baltic Capesize index jumps


PANAMAX
=======

Out of the Atlantic, rates were easier from east coast South America as
inquiry slowed and a building tonnage list going forward.  In the East, the flood of
ballasters to the Atlantic helped keep rates steady in the Pacific despite the
slow activity caused by holidays in the region.  Overall, there was very
little concluded business reported today, but a NoPac round was said to have seen
$11,100 daily.  The Baltic Panamax index dropped sharply, off 58 to 1635.

Atlantic Panamax business saw the 2004-built 76,616 dwt Medi Vitoria fix to
Raffles for May 07 delivery Santander on a trip via east coast South America
and redelivery Singapore/Japan at $19,000 daily.

Oldendorff was linked with the 1998-buit 72,474 dwt Iron Kovdor for May 17-23
delivery Klaipeda on a trip with 2 laden legs, first leg via the Baltic, with
redelivery Skaw-Cape Passero at $15,750 daily.

Transgrain agreed $15,000 daily plus a $450,000 ballast bonus for the
1999-built
73,035 dwt Nyon with May 25-31 delivery east coast South America on a trip
with
redelivery Lisbon.

AC Toepfer has the 1995-built 73,801 dwt Ever Young for May 05-10 delivery
Port
Said on a trip via the Black Sea with redelivery in the Egyptian Mediterranean
at $15,000 daily.

The 2007-built 73,593 dwt Domina has reportedly fixed with an unnamed
charterer
for May 07 delivery Kamsar for a trip with redelivery Stade at $14,500 daily.

The 2012-built Tonic Sea went to Egyptian Bulk Carriers for prompt delivery
River Plate on a trip with redelivery Lebanon at $13,000 daily plus a ballast
bonus of $660,000.

An undisclosed charterer took the 1983-built 61,539 dwt Panamax Peppou for May
04-09 delivery Cape Passero on a trip via east coast South America and the
Persian Gulf with redelivery passing Muscat outbound at $13,000 daily.

For voyage business, Marubeni took a TBN for October 10-November 10 loading
55,000 tons 10% hss from the U.S. Gulf to China at $50,50.

Out of the Pacific came word that STX Pan Ocean fixed the newbuilding 81,500
dwt
Q Keen for May delivery ex-yard South Korea on a trip via NoPac with
redelivery
Singapore/Japan range at $11,100 daily.

CAPESIZE
========

Thursday proved to be more positive in the Atlantic basin, with rates said to be
firming again for trans-Atlantic runs and fronthaul cargoes seeing $21,90 from
east coast South America.  Charterers continue to draw tonnage from the East
for new business.  In the East, rates were steadier, and possible a touch firmer.
 There was talk of west coast Australia/China business done at $7,60.  The
Baltic Capesize index jumped 32 to 1527 today.

In the Atlantic, Polaris was linked with the 2011-built Blue McKinley for May
11-20 loading 120,000 tons 10% coal from Baltimore and Newport News to Dangjin
at $37,25.

Cargill was said to be the charterer of the 2011-built STX Hope for May 22-31
loading 150,000 tons 10% ore from Itaguai to Qingdao at $21,90.

The charterer was also said to have taken a Costco TBN for June loading
160,000
tons 10% ore from Tubarao to Qingdao at $21,00.

Out of the Pacific, Richmark has fixed a TBN for May 13-18 loading 160,000
tons
10% ore from West Australia to China at $7,55.

Louis Dreyfus was the charterer of the 2011-built CTC-relet Lake D for May
18-27 loading 160,000 tons 10% ore from Dampier to Qingdao at $7,60.

The 2008-built 177,987 dwt Malindi has gone to Rio Tinto for May 15-20 loading
160,000 tons 10% ore from Dampier to Qingdao at $7,60.

For period business in the East, Swiss Marine has the 2011-built 178,076 dwt
Orsola Bottiglieri for May 15-20 delivery Singapore for 11-13 months trading
with redelivery worldwide at $11,750 daily.

The 1999-built 169,883 dwt C.Triumph will earn $11,750 daily from the same
charterer for May 15-20 delivery Bayuquan for 11-13 months trading with
redelivery worldwide.

HANDY/SUPRAMAX
==============

Supramax business in the Atlantic saw some better numbers today, with fresh
inquiry surfacing from the U.S. Gulf, despite some fixing and failing being
noted.  There was talk of tonnage fixing trips out from the Mediterranean, but
details were lacking.  A trans-Atlantic run paid $17,500 daly for spot
business
from the Gulf to Finland.  In the East, rates held up despite a slowdown due
to
holidays.  Supramax tonnage earned $13,500 daily for a trip with 2-3 laden
legs
and early May delivery.  The Baltic Supramax index rose 9 to 1108, while the
Handysize index was up another 1 to 602.

Atlantic handy business included reports of the 2002-built 51,535 dwt Chryssa
K
for spot delivery in the U.S. Gulf on a trip with redelivery Finland at
$17,500
daily.

SAIF has the 1991-built 28,843 dwt Wichita Belle for May 04-10 delivery dop
Norfolk on a trip with redelivery on the Continent at $11,000 daily.

Pacific Handy business heard that Cargill fixed the 2011-built 58,500 dwt Bulk
Ecuador for May 05-07 delivery Kohsichang on a trip with 2-3 laden legs and
redelivery Singapore-Japan at $13,500 daily.

An undisclosed charterer reportedly fixed the 2009-built 58,707 dwt La Carita
for end-May delivery aps Newcastle NSW for a trip with redelivery Indonesia at
$9,500 daily plus a $400,000 ballast bonus.

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