Dry Cargo

Asia Panamax Dry: Pacific bearish; Chinese default on soybean orders
The Panamax freight market in the Pacific remained flat to bearish at the end of the week on reports of more soybean order cancellations by Chinese buyers.
Paragon Takes Delivery of Handysize Newbuilding; Arrangement of Financing for First 2 Ultramax Newbuildings

Paragon announced today that it has taken delivery of M/V Proud Seas, a 37,227 dwt Handysize vessel, from Zhejiang Ouhua Shipbuilding Co. in China. In addition, the company announced today that it has entered into an agreement with HSH Nordbank AG, subject to final documentation, to partially finance its first two Ultramax drybulk newbuildings, which are expected to be delivered to the Company in the second and third quarters of 2014.
BIMCO Shipping Market Overview & Outlook - Dry Bulk Demand: While freight rates for Capesize ships have fended off the talk of a slowdown in China in an impressive fashion, rates finally took a
minor hit on the final trading days of March...
"Challenging outlook for containers, bulkers"
Shipowners will have to continue to operate under challenging conditions in the global container and dry bulk markets in 2014 due largely to the lingering overhang of shipping tonnage, according to South Korean shipowner Hyundai Merchant Marine (HMM).
NewLead Signs Term Sheet for 75% Financing for 2 Bulkers
NewLead announced today that it has previously signed a term sheet with a leading financial institution to provide 75% debt financing for two second-hand Panamax vessels for a total of $35 million.
Greeks place newbuilding orders; Moundreas & Maran go 2nd hand
The latest market report compiled by Carriers (week 14) notes newbuilding orders placed by C M Lemos for two tanker vessels (160,000 dwt) at HHI (delivery 2016 – USD 66.5 mln) and Chandris Group (114.000 dwt) at Daewoo (delivery 2015 – USD 51 mln).
Dalex linked to bulker acqusition
Lion Shipbrokers reports moves in the secondhand market by Greek players (week 14). Mostly bulk carriers were in demand while one deal for a tanker vessel is also being reported. Most notably, bulk carrier M/V "ORIENT SINGAPORE" (33,688 dwt, blt 2011 Japan) sold to Greek buyers (hearing to clients of Dalex) for $23 million.

Asia Dry Bulk-Capesize owners face uncertain week on major trades
Rates for capesize bulk carriers on key Asian routes are facing mixed fortunes with a two-tier market opening up on Australia and Brazil iron ore trades to China, brokers said.
Greeks place newbuilding orders

has ordered four tanker vessels (112,700 dwt) at Daewoo Mangalia (Romania) at the price of USD 51 million with delivery in 2016-17. Greece’s Nomikos ordered two bulk carriers (61,000 dwt) at Nantong Cosco (China) with delivery set for 2015. The price is undisclosed. Eletson ordered two gas carriers (22,000 dwt) at Sinpacific Offshore (China) for USD 55 million. Delivery is scheduled for 2016.
Dry Panamax freight rates for Brazil-China grain drop
Freight rates for grain runs from South America to the Far East declined amid low Chinese soybeans demand, oversupply of tonnage and generally bearish sentiment in the Atlantic market. Grain runs basis 60,000 mt on the Santos-Qingdao route dropped sharply from $41/mt on Thursday to $38.50/mt on Friday.

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