Panamax business managed to hold onto recent numbers and slid sideways
into the weekend. A shortage of vessels from the Continent and the
Mediterranean continued to support rates there - although lacking
significant new business, this is expected to be short-lived. Charterers
from east coast South America continue to absorb a lot of the tonnage in
ballast from the East, but once again demand will have to keep pace with
ships arriving in order to hold rates at last dones. The Pacific basin
saw some improvement as the list of open tonnage shortened with owners
ballasting tonnage away. Fresh inquiry from Indonesia this week helped
improve rates there, but this appears to be slowing. Some demand for
period tonnage remained but sources said it was very limited. The Baltic
Panamax index gained 19 to 1065.
The Atlantic market included talk that the 2006-built 76,598 dwt Yusho Regulus
recently fixed to Raffles for July 20-25 delivery east coast South America on
a trip with redelivery Singapore-Japan at $15,750 daily plus a $575,000 ballast
Cargill was linked with the 2007-built 74,483 dwt Gauri Prem for June 22-27
delivery Tubarao-Recalada range on a trip with redelivery Singapore-Japan at
$15,750 daily plus a ballast bonus of $575,000.
The 1998-built 72,645 dwt CS Queen has fixed on subjects with an
undisclosed charterer for June 18-20 delivery Stade on a trip with two
laden legs, first leg Baltic/USEC, and redelivery in the Atlantic at
Bunge was the charterer of the 1990-built 71,733 dwt Newlead Markela for spot
delivery Ennore on a trip via east coast South America and Iran with
redelivery passing Muscat outbound at $10,500 daily.
The 2005-built 73,603 dwt Ju Da will earn $9,750 daily from Bunge for
June 24-26 delivery Cape Passero on a trip with 2 laden legs and
redelivery Skaw-Cape Passero.
The charterer also has the 2000-built 74,117 dwt East Bravery for June 17-18
delivery Cape Passero on a trip via Salvador with redelivery Brake at $8,500
An unnamed charterer has the 2010-built 79,649 dwt Jawor for June 21-22
delivery Amsterdam on a trip via the U.S. east coast with redelivery
Italy at $9,650 daily.
Salzgitter took a TBN for July 10-24 loading 70,000 tons 10% ore from
Tubarao to Hamburg at $13,75.
Pacific Panamax business included word of the 2001-built 73,193 dwt
Dimitris L having recently fixed to Cargill for June 19-20 delivery
Singapore on a trip via east coast South America with redelivery
Singapore-Japan at $10,000 daily.
The charterer of the 2004-built 77,684 dwt YM Rightness was unnamed, but took
the vessel for June 18-20 delivery Sual on a trip via Indonesia with
redelivery Singapore-Japan at $7,000 daily.
The 2008-built 77,008 dwt Energy Pyxis went to Cargill for June 17-22 delivery
Bayuquan on a trip via NoPac with redelivery Japan at $6,750 daily.
Cargill also has the 2001-built 75,323 dwt Rhine for June 30-July 05
delivery NoPac on a trip via Tacoma with redelivery China at $6,250 daily
plus a $360, 000 ballast bonus.
The 2005-built 77,684 dwt Billiton Trader has fixed with BHP Billiton for June
17-20 delivery Nantong on a trip via east coast Australia with redelivery
China at $6,000 daily.
The 2008-built 77,376 dwt Mitose was reported fixed to an undisclosed
charterer for June 18-23 delivery Inchon for a trip via NoPac with redelivery
Singapore-Japan at $6,000 daily.
In voyage business, Cetragpa reportedly fixed a TBN for June 25-July 04
loading 180,000 tons 10% coal from Taboneo to New Mangalore at $7,15.
Capesize business closed the week in negative territory, with rates still
very poor. In the Atlantic, Tubarao/Qingdao business was done at $17,10
for an ore cargo with June 20-25 loading. A Newcastle/S.Korea trip paid a
weak $9,24 for a coal cargo with June 21-30 loading. Pacific business was
little heard, but west Australia/China business paid $6,75 for modern
tonnage with June 23-26 loading. The Baltic Capesize index fell 14 to
From the Atlantic, the 2010-built FEG Success has gone to Cargill for June
20-25 loading 160,000 tons 10% ore from Tubarao to Qingdao at $17,10.
STX Pan Ocean has agreed $11,25 for a Cosbulk TBN with July 05-16 loading
150,000 tons 10% coal from Richards Bay to Zhoushan at $11,25.
It emerged that Kepco fixed the 1992-built 150,476 dwt Grand Horizon for
June 21-30 loading 130,000 tons 10% coal from Newcastle to Youngheung at
In the Pacific, the 2010-built Pacific Bulk-relet Mineral Haiku went to FMG
for June 23-26 loading 160,000 tons 10% ore from Port Hedland to Qingdao at $6,75.
The Handy market finished the week very positively, with rates still firm for
supramax tonnage from the U.S. Gulf. Trips out are being talked in the
mid-to-high-$20,000 daily range - although details were lacking. From the
Continent, rates reportedly firmed into the close of the week as fresh inquiry
helped mop up tonnage - here too rates are said to have improved into the
low-$20,000 daily range. There remained demand for period tonnage, with a
supramax fixing 3-5 months trading at $12,500 daily for spot business from the
Black Sea. Firmer numbers for the Pacific basin, with Indonesia/EC India
business done at $8,500 daily plus a $110,000 bb. Supramax tonnage in the
East saw numbers approaching $10,000 daily for short period of 3-5 months trading,
according to sources. The Baltic Supramax index rose 23 to 1061, while the
Handysize index was up 16 to 653.
For the Atlantic market, the 1992-built 52,630 dwt Limnos fixed a firm 422,500
daily with an undisclosed charterer for spot delivery in the Eastern
Mediterranean for a trip with redelivery Singapore-Japan.
Western Bulk Carriers has the 2011-built 57,002 dwt Common Venture for spot
delivery in the Black Sea for 3-5 months trading and redelivery worldwide at
ED&F Man Shipping were said to have taken the 1996-built 45,569 dwt Hanhai for
spot delivery in the Black Sea for 3-5 months trading and redelivery in the
Atlantic at $9,500 daily.
Pacific Handy business included reports of the 2009-built 57,000 dwt Jin Zhou
Hai fixing to an unnamed charterer for spot delivery Chaozhou on a trip via
Indonesia with redelivery China at $6,000 daily.
Bulk Handling was the charterer of the 2011-built 56,625 dwt Bi Jia Shan for
June 22-27 delivery aps Indonesia on a trip with redelivery east coast India
at $8,500 daily plus a ballast bonus of $110,000.
Period business in the East saw the 2003-built 53,514 dwt Navios Arc go to
Oldendorff with spot delivery Singapore for 3-5 months trading and redelivery
worldwide at $9,500 daily.