Pressure remained on rates in the Atlantic today, with available tonnage still
vastly outweighing new demand. There was less tonnage available from the
Continent/Mediterranean region, which might have pushed rates up, but alas
fresh inquiry was lacking. Charterers from east coast South America continue to
source tonnage from southeast Asia and the Indian Ocean, which has kept rates
in check.For the Pacific basin, business emerged mostly for Australia and
Indonesia cargoes. Some interest was still there for period tonnage, but this
too was very limited. The Baltic Panamax index fell 23 to 1003.
Atlantic Panamax business saw Beibu Gulf fix the 2010-built 80,443 dwt Wadi
Safaga for July 20-30 delivery aps Santos on a trip with redelivery
Singapore-Japan at $14,500 daily plus a $475,000 ballast bonus.
COSCO secured a TBN for July 07-15 loading 60,000 tons 10% coal from Newport
News to Jorf Lasfar at $13,00.
Out of the Pacific came word that the 2005-built 76,015 dwt Prabu Das has gone
to Sinochart for spot delivery Gangavaram on a trip via east coast South
America with redelivery Singapore/Japan at $10,500 daily.
It emerged that the 2002-built 75,966 dwt Newlead Victoria was fully fixed
last Friday for June 23-25 delivery Taichung on a trip via east coast Australia or
Indonesia, with redelivery Singapore/Japan at $7,250 daily.
For period business in the East, the 2010-built 80,545 dwt Darya Jyoti will
earn $8,250 daily from GMI for spot delivery Kunsan for 4-7 months trading with
redelivery worldwide at $8,250 daily.
Rates remained under pressure in the Atlantic, with the long tonnage list and
vessels still in ballast weighing on the market. A trans-Atlantic run paid
$3,000 daily plus a $200,000 bb for a 1999-built 170,000-tonner. Capesize
business in the Pacific could best be described as limited today. There was
not a lot of fresh inquiry, and concluded business was scarce, but despite this
appeared to find bottom. The key West Australia/Qingdao route held at $6,70
today.The Baltic Capesize index added 8 to 1168 today.
From the Atlantic, Cargill has reportedly fixed the 1999-built 170,162 dwt
Lowlands Beilun for July 01-05 delivery aps Ponta da Madeira on a trip with
redelivery on the Continent at $3,000 daily plus a $200,000 ballast bonus.
Rio Tinto has a TBN for July 16-25 loading 160,000 tons 10% ore from Seven
Islands to Qingdao at $20,50.
In the Pacific, the 2004-built 183,204 dwt Mineral Kyoto was said fixed to FMG
for July 05-08 loading 160,000 tons 10% ore from Port Hedland to Qingdao at
Some activity was noted in the Atlantic Handy sector today, with rates holding
at decent levels. Voyage business from the U.S. Gulf to Turkey paid $33,00
for a scrap cargo. Some stronger numbers were reported in the Pacific today, with
Australia/India-Bangladesh business said done at $10,000 daily for
prompt/early-July business. NoPac rounds are said to have seen $7,700 daily
for a supramax, but rates are now said to have risen above this number. The
Baltic Supramax index added 16 to 1207, while the Handysize index rose 2 to 709.
For Atlantic Handy business, the 2011-built 56,172 dwt Diamond Jubilee has
gone to HBC for end-June/early-July delivery Cristobal for a minimum of 90 days
trading with redelivery in the Atlantic at $19,250 daily.
Voyage business included reports of the 2008-built 52,000 dwt Global Vanguard
having fixed to Sims Metal for July 03-10 loading 35,000 tons 10% scrap from
the U.S. Gulf to Turkey at $33,00.
Period business linked Bunge with the 2000-built 52,224 dwt JS Phoenix for
July 01-15 delivery in the Atlantic for 3-5 months trading and redelivery in the
Atlantic at $18,000 daily.
Oldendorff was the charterer of the 2006-built 53,538 dwt Blue Diamond for
spot delivery Hoping for 4-6 months trading with redelivery worldwide at $8,500