Panamax business continued to slow in the approach to the weekend.
Pressure mounted on rates, despite the ongoing tight tonnage in the north
Atlantic. Some fixing and failing was noted as rates weakened and
charterers had no difficulty finding cover elsewhere. Fresh inquiry from
east coast South America was lacking and rates are weakening. In the
Pacific, not much new business was heard, but there remained some limited
interest in period tonnage. A charterer agreed $9,500 daily for 3-5
months trading to a modern vessel with spot delivery. Also, a period of
about 2-years trading fixed an LME for mid-August delivery at $10,000
daily. The Baltic Panamax index fell 23 to 1183.
From the Atlantic, Cobelfret reportedly fixed on subjects the 2010-built
83,369 dwt Key Boundary for July 24-26 delivery Porto Torres on a trip
via the U.S. east coast and redelivery India/Japan at $20,000 daily.
The 2001-built 76,801 dwt Rosco Sandalwood will earn $15,250 daily plus a
$525,000 ballast bonus from Pacific Bulk for July 30-August 03 delivery east
coast South America on a trip with redelivery China.
United was said to have fixed on subjects the 2008-built 81,847 dwt KM Mt.
for July 22 delivery Belfast on a trip with 2-3 laden legs and redelivery in
the Atlantic at $11,000 daily.
The charterer was also said to have taken a Post Panamax TBN for July 20-25
delivery Brazil on a trip with 2 laden legs (first leg Brazil/Argentina with
ore / second leg Argentina/Cont with grain) at $10,750 daily plus a ballast
bonus of $300,000.
AC Toepfer agreed $10,500 daily plus a $300,000 ballast bonus for the
2004-built 76,015 dwt Vassos with August 01-10 delivery east coast South
America on a trip via Egypt with redelivery Cape Passero.
In voyage business, Tata fixed a TBN for July 25-30 loading 70,000 tons
10% coal from Mississippi to Port Talbot and Immingham at $19,75.
In the Pacific, a backhaul round saw Marubeni take the 2011-built 82,191
dwt Flora for July 24-26 delivery Visakhapatnam on a trip via Brazil with
redelivery Japan at $11,000 daily.
It emerged today that the 2005-built 76,838 dwt Lord Byron was recently fixed
with an unnamed charterer for July 19-21 delivery Sakaide on a trip via NoPac
with redelivery Singapore-Japan at $10,250 daily.
The 2012-built 98,000 dwt Jo Jin Maru has gone to Chubu Electric for July
delivery Kinuura in d/c for a trip via Newcastle with redelivery South Japan
Panacore has the 1997-built 74,002 dwt Riruccia for August 01-08 delivery
ex-drydock Nantong on a trip via east coast Australia with redelivery
east coast India at $8,500 daily.
The 1994-built 70,181 dwt Full Comfort was reported fixed to an undisclosed
charterer for July 22-28 delivery CJK on a trip via east coast Australia with
redelivery Singapore-Japan at the same rate.
IMC proved to be the charterer of the 2004-built 76,830 dwt NS United-relet
Lowlands Nello for July 20-22 delivery ex-drydock Nantong on a trip via
Newcastle with redelivery Taiwan at $8,000 daily.
Period business in the East included word of the 2001-built 74,193 dwt
Sea Urchin having fixed to an undisclosed charterer for August 10-20
delivery Taiwan for 18-24 months trading with redelivery worldwide at
The 2012-built 81,177 dwt STX Clover has gone to Norden for July 19-24
Bhavnagar for 4-6 months trading and redelivery worldwide at $9,750 daily.
GMI was linked with the 2012-built 81,720 dwt Alpha Progress with spot
Mokpo for 3-5 months trading and redelivery worldwide at $9,500 daily.
In the Atlantic, trading remained somewhat slow and pressure seemed to mount
on rates. A trans-Atlantic round, Rotterdam/Skaw-Cape Passero via Colombia, paid
$5,350 for a 13-year old vessel with prompt dates. A trip out with ore from
Seven Islands was done at $22,50 for second-half August loading. Capesize
activity in the East was improved today, with Rio Tinto in the market for a
number of vessels on subjects for the Dampier/China run at $7,00.
The Baltic Capesize index lost 10 to 1276.
Out of the Atlantic came word that EDF was the charterer of the 1999-built
171,746 dwt Cargill-relet Cape Sun for prompt delivery Rotterdam on a trip via
Colombia with redelivery Skaw-Cape Passero at a low $5,350 daily.
Rio Tinto has the 2010-built Frontier Bonanza for August 15-30 loading 160,000
tons 10% ore from Seven Islands to Qingdao at $22,50.
In late trading it emerged that Vale took the 1997-built 167,102 dwt
Vitol-relet Aquagem as the European controlled TBN fixed for August 01-10
loading 160,000 tons 10% ore from Tubarao to Qingdao at a steady $17,90.
For Pacific Capesize business, STX Pan Ocean has fixed the 2010-built 176,000
dwt Cape Star for July 30-31 delivery Kwangyang on a trip via Roberts Bank
redelivery South Korea at $4,750 daily.
Voyage business heard that VSP fixed a TBN for August 10-20 loading
150,000 tons 10% coal from Hay Point to Gangavaram at $10,75.
An STX Pan Ocean TBN was reported fixed to Kepco for August 11-20 loading
150,000 tons 10% coal from Roberts Bank to Youngheung at $9,33.
Sinosteel agreed $7,00 for a Chinese TBN with August 06-15 loading 160,000
10% ore from Dampier to Qingdao.
BHP Billiton paid $6,95 for a TBN with August 09-12 loading 170,000 tons
10% ore from Port Hedland to Qingdao.
The 1983-built GS Beauty was fixed to DHL for July 20-30 loading 140,000 tons
10% coal from Adang Bay to Kemen at $4,70. The business had earlier been
reported done at $4,50.
A slower day with easier rates reported for supramaxes in the U.S. Gulf today.
A spot 16-year old vessel earned $16,750 daily for a USG/Brazil run. Things
were better from the Continent, with a trip to Turkey taking a supramax at
$23,000 daily for spot business. Pacific business trended sideways in the
absence of much new business. Supramax tonnage fixed Kosichang/India via
Indonesia at $8,500 daily. A short period of 4-6 months fixed spot Japan at
$10,500 daily. The Baltic Supramax index dropped 27 to 1212 today, while the
Handysize index was off 6 to 666.
The Atlantic market saw J. Lauritzen take the 2012-built 56,847 dwt Frederike
Selmer for spot delivery on the Continent for a trip with redelivery Turkey at
Torm has the 2008-built 58,780 dwt Kastro for spot delivery Maracaibo on a
with redelivery on the Continent at $22,500 daily.
The 1996-built 45,956 dwt Force Ranger has fixed with Cargill for spot
in the U.S. Gulf on a trip with redelivery Brazil at $16,750 daily.
Pacific Handy business reported Noble fixed the 2011-built 57,266 dwt
Captain Harry for July 21-24 delivery Kohsichang on a trip via Indonesia
with redelivery full India at $8,500 daily.
Pacific voyage business saw BHP Billiton take a GMI TBN for August 06-12
loading 59,000 tons 10% alumina from Bunbury to Richards Bay at $11,40.
For period business in the East, the 2012-built 58,000 dwt Alam Maju will earn
$10,500 daily from an unnamed charterer with spot delivery Japan for 4-6
trading and redelivery worldwide.