There has been very little new activity reported for Atlantic Panamax business
yet this week. Charterers appear to have the upper hand and rates are still
very weak. A Baltic Sea/Continent run is said to have fixed modern tonnage at
about $11,000 daily, but confirmation was lacking. A trip out from east coast
South America did fix at $12,500 daily plus a $450,000 bb basis early July
delivery. The pressure on rates remained for Panamaxes in the East today.
Sources reported a NoPac round done at $6,000 daily plus a $340,000 bb. A Far
East round via Australia earned $5,000 daily for modern tonnage. Also, an LME
fixed spot business, a Japan/Australia round trip at just $4,750 daily. The
Baltic Panamax index lost 20 to 877 today.
The Atlantic Panamax sector saw Oldendorff take the 2010-built 79,800 dwt Sea
Empire for July 01-05 delivery aps east coast South America on a trip with
redelivery Singapore-Japan at $12,500 daily plus a ballast bonus of $450,000.
Pacific Panamax business included word of the 2011-built 79,600 dwt Grand
Amanda fixing to an unnamed charterer for spot delivery Lumut on a trip
via east coast South America on a trip with redelivery in the Far East at
BHP Billiton was linked with the 2001-built 75,941 dwt Maganari for spot
delivery Kobe on a trip via Australia with redelivery Singapore-Japan at
It emerged that the 2007-built 74,405 dwt Gauri Prem recently fixed to an
undisclosed charterer for prompt delivery Indonesia on a trip with redelivery
China at $5,000 daily plus a ballast bonus of $60,000.
The 2001-built 73,926 dwt Levanto has reportedly fixed to STX Pan Ocean
for spot delivery Hong Kong on a trip via Australia with redelivery
Singapore-Japan at $5,000 daily.
Sinochart was said to be the charterer of the 2000-buit 72,493 dwt Kind
Seas for June 18-20 delivery aps NoPac on a trip with redelivery Japan at
$6,000 daily plus a $340,000 ballast bonus.
Holidays in the U.K. on Monday and Tuesday of this week suppressed a lot of
trading. Rates continued their decline on the lack of activity and the number
of ballasters headed into the basin. There was talk of trans-Atlantic rounds
fixing in the high-$3,000-to-$4,000 daily range, but details were lacking.
Charterers were busy in the East, although rates have yet to show any
improvement. The key Dampier/Qingdao run has fallen to the $7,00-$7,05 range.
The Baltic Capesize index fell 46 to 1252.
In the Atlantic, Kumba has the 2008-built Sandra for June 20-25 loading
160,000 tons 10% ore from Saldanha Bay to Qingdao at $12,90.
From the Pacific, Rio Tinto fixed the 2005-built Winning Confidence for June
21-26 loading 160,000 tons 10% ore from Dampier to Qingdao at $7,05.
The same charterer was linked with the 2007-built Nord Steel for the same
dates and cargo on the same route and at the same rate.
Activity has yet to resume at any significant level in the Atlantic.
Handysize tonnage in the U.S. Gulf reportedly fixed a trans-Atlantic run at $15,250
A trip out from east coast South America paid $18,500 daily plus a $400,000
bb for a supramax. In the Pacific basin, period business proved the only
moderately bright spot today, with charterers still paying a premium over trip
rates. An Indonesia/India trip paid $6,000 daily plus a $50,000 bb for a
supramax with June 08-12 delivery. The Baltic Supramax index dropped 15 to
1008, while the Handysize index was off 19 at 602.
Out of the Atlantic came word of the 2011-built 57,000 dwt Red Fin fixing with
Cargill for June 20-25 delivery Santana on a trip with redelivery in the Far
East at $18,500 daily plus a $400,000 ballast bonus.
D'Amico was said to be the charterer of the 2008-built 28,449 dwt Sat Nunki
for June 12-15 delivery Altamira on a trip via the U.S. Gulf with redelivery in
the Italian Adriatic at $15,250 daily.
For the Pacific market, Bulk Marine has the 2010-built 58,500 dwt Ignazio for
June 08-12 delivery aps Samarinda on a trip with redelivery India at $6,000
daily plus a ballast bonus of $50,000.
The 1997-built 26,000 dwt African Puma has reportedly fixed on subjects with
an unnamed charterer for June 08-10 delivery Qingdao for a trip with redelivery
east coast India at $7,000 daily.
For Pacific period business, Navios reportedly took the 2009-built 58,063 dwt
Navios Celestial for June 06-15 delivery east coast India for 4-6 months
trading with redelivery worldwide at $10,000 daily.
The 1996-built 28,587 dwt Shark Island went to Thoresen for June 09-11
delivery Taiwan for 4-6 months trading with redelivery worldwide at $8,000 daily.