The Atlantic Panamax market stayed quiet today, with only a sporadic
entry of new business. The easy availability of vessels has left owners
with very little bargaining power in the absence of inquiry. For
ECSA/East business rates dropped again, with business done at $14,000
daily plus a $400,000 bb. Owners in the East were also struggling. With
limited cargoes to vie for, many had been ballasting to the West. However
this is now not a practical option. There was some new interest in period
tonnage, with a period of 17-23 months trading fixing an LME at $9,250
daily. The Baltic Panamax index lost 28 to 982.
In the Atlantic, the 2000-built 72,917 dwt Monte Pelmo has gone to Panacore
August 01-05 delivery Liverpool for a trip via the U.S. east coast and
redelivery India at $17,250 daily.
Priminds agreed $14,000 daily plus a $400,000 ballast bonus for the 1997-built
73,048 dwt Cape with August 10-20 delivery east coast South America on a trip
with redelivery Singapore-Japan.
The 1993-built 83,155 dwt Maud was said fixed to Medmar for August 01-05
delivery La Pallice on a trip via Yemen and redelivery Cape Passero at $10,000
Egyptian Bulk Carriers was linked with the 2011-built 80,561 dwt India
for August 03-08 delivery in the U.S. Gulf for a trip with redelivery in
the eastern Mediterranean at $9,000 daily plus a $225,000 ballast bonus.
Oldendorff fixed on subjects the 2007-built 82,561 dwt London 2012 for August
03-04 delivery Tyne for a trip via the Baltic and redelivery UK-Continent
at $7,500 daily.
Out of the Pacific, Oldendorff has the newbuilding 83,000 dwt Cape Kassos for
July 30 delivery ex-yard Sundong on a trip via Australia with redelivery
Singapore-Japan at $8,500 daily.
Panacore was the charterer of the 2007-built 82,191 dwt Iron Lindrew for
01-05 delivery Hsinta, Kaohsiung on a trip via Queensland with redelivery east
coast India at $8,500 daily.
Period business in the East saw, Ultrabulk fix the 2006-built 73,546 dwt Naias
for August-September delivery China for 17-23 months trading and redelivery
worldwide at $9,250 daily.
The charterer also took the 2001-built 75,211 dwt Oceanis with mid-August
delivery Xinsha for the same period at the same rate.
Activity remained extremely limited for the Capesize sector today, with very
little fresh inquiry on offer. Rates remain under pressure, with plenty of
available tonnage inhibiting gains in the market. The Baltic Capesize index
dropped 6 to 1194.
Rates in the Atlantic were steady/easing today, with a US Gulf/East run
reported fixed in the lower $18,000-$20,000 daily range - although a
definitive number was not disclosed. From east coast South America, a
trip to S.Korea held steady at $14,500 daily plus a $250,000 bb. For
Pacific Handy business, premiums have been seen for some business, but
sources indicated these numbers were for vessels who could accommodate
stiff requirements. Otherwise the market remained under pressure with
rates off last dones. Beihai/Philippines business via Indonesia paid
$7,000 daily for a supramas. The Baltic Supramax index fell 15 to 1032
today, while the Handysize index was off 13 to 580.
In the Atlantic, the 1998-built 46,700 dwt Jin Mao was said fixed on
subjects to MUR for August 01-05 delivery Recalada on a trip with
redelivery South Korea at $14,500 daily plus a ballast bonus of $250,000.
Pacific Handy business included word that the 2011- built 56,780 dwt Red
Fin was fixed to Cargill recently for spot delivery Vietnam on a trip via
Indonesia with redelivery India at $12,000 daily.
Jaldhi paid $7,000 daily for the 2010-built 58,000 dwt Belnor with spot
delivery Beihai on a trip via Indonesia with redelivery in the
Philippines at $7,000 daily.