Atlantic Panamax business showed no improvement today, with the lack of new
business from east coast South America putting pressure on rates. In the
Pacific, rates eased again and additional vessels are now said to be in
ballast to the Atlantic. As well, owners are now talking of dropping anchor to reject
any further drop in rates. Some interest for period business emerged, with a
weaker $8,000 daily said paid for 3-8 months trading in early June. The
Panamax index fell 41 to 1008.
For Atlantic Panamax business, the 2000-built 74,366 dwt Oriental Frontier has
fixed with Oldendorff for July 01-15 delivery east coast South America for a
trip with redelivery Singapore/Japan at $14,500 daily plus a ballast bonus of
Pioneer Navigation took the 2001-built 75,323 dwt Trave for spot delivery
Hunterston on a trip via Trombetas with redelivery on the Continent at $9,000
In the Pacific, the 2010-built 61,344 dwt Dubai Sun will earn $10,000
daily from an unnamed charterer for spot delivery Goa on a trip via South
Africa with redelivery Singapore-Japan.
Chubu Electric has the 2010-built 82,518 dwt Tyana for May 29-31 delivery aps
Indonesia for a trip with redelivery Singapore-Japan at $6,000 daily plus a
ballast bonus of $120,000.
Oldendorff was said to be the charterer of the 1996-built 70,189 dwt
Pleione for spot delivery Dalian on a trip via NoPac with redelivery
Singapore-Japan at $6,000 daily or charterers option of a trip via the
U.S. Gulf with redelivery Singapore-Japan at $7,000 daily.
It emerged that Bunge fixed the 2006-built 75,637 dwt Danann Island yesterday
for May 30-31 delivery Kobe on a trip via NoPac with redelivery
at $6,000 daily.
The 2012-built 82,000 dwt Yangtze Xing Hua reportedly fixed on subjects with
unnamed charterer for June 02-05 delivery Zhanjiang for a trip via east coast
Australia with redelivery east coast Australia at $5,750 daily.
Jiangsu Steamship has the 1994-built 71,535 dwt TPC Arirang for May 30-31
delivery Xiamen on a trip via Indonesia with redelivery South China at $5,600
Sinochart has fixed the 2011-built 95,000 dwt Bulk Philippines for May 28-31
delivery Zhuhai on a trip via West Australia with redelivery China at a low
The 1994-built 73,498 dwt Hamburg Max has reportedly fixed on subjects
for $4,750 daily with an undisclosed charterer for spot delivery China on
a trip via Indonesia with redelivery China.
Klaveness has the 1995-built 66,433 dwt Zhen Xing Hai for spot delivery
Fangcheng for a trip via Indonesia with redelivery China at $4,250 daily.
The 2010-built 92,500 dwt Chang Hang An Hai went to an undisclosed
charterer for June 03-08 delivery Taichung on a trip via Indonesia with
redelivery Singapore-Japan at a very low $2,000 daily.
Pacific period business included word of the 2001-built 73,325 dwt Marine
Prosperity having fixed on subjects for June 06 delivery Vietnam for 3-8
trading with redelivery worldwide at $8,000 daily.
Voyage business in the East saw, PMI take the 2010-built Bao Chan for
June 10-15 loading 90,000 tons 10% ore from Port Hedland to Qingdao at
Pressure mounted for capesize's today, with owners giving ground on rates
to find cover. Atlantic Capesize business was very slow, with the
Tubarao/Qingdao route said fixed at $18,50 for late June loading. In the
Pacific basin, the key west Australia/China run has fallen to about $7,35
for mid-June/onwards loading .
The Baltic Capesize index dropped 35 to 1342.
Out of the Atlantic came word that the 2012-built Glovis Advance has fixed
Morgan Stanley for June 21-30 loading 160,000 tons 10% ore from Tubarao to
Qingdao at $18,50.
Pacific capesize business heard that Rio Tinto reportedly fixed a TBN for June
18/onwards loading 160,000 tons 10% ore from Dampier to China at $7,35.
Supramax tonnage in the Atlantic saw very little business done today.
There was talk of tonnage fixed on subjects but details were lacking. In
the East, rates continued to decline. North China/PG business fixed a
supramax at $7,900 daily - a rate now considered unrepeatable. For
Pacific Handy business, supramax tonnage saw another drop in rates, with
ECAustralia/EC India business fixing modern tonnage at $4,500 daily. The
Baltic Supramax index was off 36 to 1054, while the Handysize index
inched down another 2 to 644.
Pacific business saw Norden take the 2010-built 56,803 dwt Vega Taurus
for spot delivery aps Indonesia on a trip with redelivery Thailand at
$5,000 daily plus a $50,000 ballast bonus.
The 2010-built 57,000 dwt CS Soraya has gone to Oldendorff for spot delivery
Kemen on a trip via east coast Australia with redelivery east coast India at
easier $4,500 daily.
For period business in the East, an unnamed charterer fixed the 2008-built
57,000 dwt Blue Marlin 1 for spot delivery Karachi for 3-7 months trading with
redelivery worldwide at $9,500 daily.
Pacific voyage business heard that Elcano fixed a TBN for June 08-15 loading
59,000 tons 10% ore from Kamsar to San Ciprian at $10,90.