The supply of available tonnage in both the Atlantic and Pacific mounted
rapidly this week and rates fell sharply as a result. New business from
east coast South America was limited today, which offers no relief to
owners looking for cover. In the East, there appears to be a growing
sentiment among owners that current rates on offer are not worth fixing
for. The Baltic Panamax index fell 46 to 923.
The Atlantic Panamax market saw the 2010-built 76,000 dwt Kea fix to an
charterer for June 15-25 delivery aps U.S. east coast on a trip with
east coast India at $25,000 daily.
The 2002-built 74,000 dwt Nicos L was reported recently fixed to an
charterer for June 03-10 delivery passing the Cape of Good Hope on a trip via
east coast South America with redelivery Singapore/Japan at $12,500 daily plus
a $450,000 ballast bonus.
Sinoriches was linked with the 2004-built 76,633 dwt Sorrento for June 12-14
delivery passing the Cape of Good Hope on a trip via east coast South America
with redelivery China at $12,250 daily plus a $425,000 ballast bonus.
The 2011-built 92,932 dwt Charilka Junior has fixed with Cargill for June
07-12 delivery Santos on a trip via Brazil with redelivery on the
Continent at $12, 250 daily plus a ballast bonus of $250,000.
For Pacific Panamax business, an unnamed charterer has reportedly fixed the
1996-built 73,008 dwt Barito for May 31 delivery aps Santos on a trip with
redelivery Skaw-Cape Passero at $11,000 daily plus $250,000 ballast bonus.
Oldendorff was linked with the 2008-built 81,702 dwt Medi Salerno for
June 01-05 delivery aps Indonesia on a trip with redelivery China at
$5,000 daily plus a $100,000 ballast bonus.
The charterer also has the 1998-built 71,571 dwt Esna for June 15-20 delivery
Taiwan in d/c on a trip via Indonesia with redelivery Singapore-Japan at
The 2011-built 95,740 dwt Bulk Philippines has gone to Sinochart for May 30-31
delivery Zhuhai on a trip via west Australia with redelivery China at $5,000
Period business in the Pacific included word of the 2006-built 77,430 dwt
Fortune Clover fixing for June 02-05 delivery Rizhao for 5-8 months
trading with redelivery worldwide at $8,500 daily.
Lucchini agreed $25,00 for a TBN with June 20-30 loading 60,000 tons 5% coal
from Roberts Bank to Trieste and Piombino.
The wrecking of rates continued today, with numbers falling once more on a
lack of new business and an over-supply of ships. Holidays in the U.K. on Monday
dampened enthusiasm even further. From the Atlantic there was some talk of
business done, but details and rates paid were withheld. Sentiment was
negative, with too much tonnage in ballast and insufficient new cargoes on
offer. In the Pacific, the key west Australia/China route held steady around
low $7,35 for mid-June loading - there was talk of $7,30 having been done.
Baltic Capesize index dropped 23 today to end at 1319.
From the Pacific, BHP Billiton took a TBN for mid-June loading 170,000
tons 10% ore from Port Hedland to Qingdao at $7,30.
Rio Tinto has a TBN for June 18-22 loading 160,000 tons 10% ore from Dampier
Qingdao at $7,30.
The 1997-built Chrismir went to Noble for June 15-20 loading 130,000 tons 10%
coal from Newcastle to Qingdao at $11,50.
Atlantic Handy business saw little activity in the approach to the
weekend. Rates edged down in all areas, with USG/East business being
talked in the mid-$20,000's daily range. A trans-Atlantic round did fix a
supramax at $15, 000 daily for mid-June dates. Handy business in the
Pacific weakened again, except for short period business where spot
periods continues to earn a premium over trip business. The Baltic
Supramax index lost 20 to 1034, while the Handysize index edged down 6 to
For Atlantic Handy business, the 1998-built 31,962 dwt Apuana D will earn
$20,000 daily from Nordic Bulk Carriers for June 01-05 delivery Flushing on a
trip with redelivery in the eastern Mediterranean.
An unnamed charterer took the 2009-built 56,897 dwt Jin Wan for spot delivery
West Africa on a trip with redelivery in the Black Sea at $15,000 daily.
The 2002-built 50,342 dwt Sea Lavender was reported fixed with Oldendorff for
June 10-15 delivery Monrovia on a trip via South Brazil and the Red Sea with
redelivery Port Said at $15,000 daily.
Out of the Pacific, the 2007-built 58,811 dwt Consolidator has fixed with Siva
for spot delivery aps Indonesia on a trip with redelivery India at $7,250
plus a ballast bonus of $75,000.
For period business in the East, the 2007-built 58,480 dwt Meteora has gone to
HMM for spot delivery Cheng Xi for 4-6 months trading with redelivery
at $10,500 daily.