Baltic Exchange Dry Index 2985 DOWN 33
BCI Baltic Exchange Capesize Index 4844 DOWN 193
BPI Baltic Exchange Panamax Index 2952 UP 38
BSI Baltic Exchange Supramax Index 1817 UP 35
BHSI Baltic Exchange Handysize Index 794 UP 15
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10/7 2009 17:22 fcras 0
15101 Classic lets go
Classic Maritime relet a capesize which it had only taken earlier this week to Cargill with the possibility of a healthy profit. The good rate was not enough to lift the segment’s index figure, however, as another charter saw a low front haul rate.
India buoyed the supramax trade while panamaxes witnessed some very good front haul and Atlantic action.
Capesizes
George Economou-controlled Classic relet the 171,200-dwt Ocean Cosmos (built 2005) to Cargill for a trip from the Atlantic to the Persian Gulf at $85,000. Classic took the ship on Tuesday for an Atlantic roundtrip at $65,000 or a front haul at $85,000.
Rio Tinto spent $61,000 per day for a front haul via the Americas with the 169,200-dwt Daphne (built 1999), mush lower than what was on offer a month or so ago.
There was a strong rate from TMT for a five to seven months charter, however. The Taiwanese owner spent $57,000 a day on the 207,800-dwt Yasa Dream (built 2008).
Panamaxes
The period market reawakened in this sector too as Oldendorff put down a very firm $29,000 a day for between three and four months with the 68,600-dwt SD Glory (built 1987).
Bunge has the 76,100-dwt Eleftheria (built 2001) for a year to 14 months at $18,000 while two or three months cost $1,000 a day more with the 72,500-dwt Mar Reina (built 1998).
Cosco led the way in the voyage market with a massive $38,500 a day for the 77,200-dwt Nordpol (built 2002) to run a front haul trip.
A number of key players kept the Atlantic fires burning with Oldendorff spending $29,000 on the 82,500-dwt Bulk Brazil (built 2008) and Bunge just $1,000 a day shy of this on the 72,900-dwt Loch Lomond (built 2002), both on roundtrips.
Proline also has the 70,000-dwt New Champion (built 1996) for an Atlantic roundtrip at $26,000.
There was also a flurry of activity from the Persian Gulf to South America and the Far East. Marubeni spent $26,000 on the 72,100-dwt Vogevoyager (built 1996), another player $25,000 on the 76,900-dwt Shining Bliss (built 2007) and another $25,750 on the 76,000-dwt Efrossini (built 2003).
Supramaxes
The period market was strong here too as Meridian spent $21,000 a day for three to five months with the 50,800-dwt Jin An (built 2000).
Eastern Ocean has the 52,400-dwt Courageous (built 2005) for the same period at $16,500 while the 53,000-dwt Chimes (built 2008) and 42,100-dwt Leros (built 1985) got $16,000 and $13,000 a day respectively, also for the same stint.
But it was all about India in the voyage market. There was a trio of straight India-China runs, Noble spending $20,500 on the 51,000-dwt Curia (built 2001), Seawin $19,000 on the 52,500-dwt Tropical Queen (built 2005) and the 53,400-dwt City (built 2007) commanding $20,000.
A 58,800-dwt newbuilding is also plying the route but heading to South America to pick up cargo at $21,000 a day.
Cargill is taking the 46,800-dwt Soul of Luck (built 1991) from India to Brazil and back at $12,800.
By Eoin O'Cinneide in London
Published: 12:52 GMT, 10 jul 2009 | last updated: 12:52 GMT, 10 jul 2009
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11/7 2009 09:27 fcras 015124 WEEKLY MARKET REPORT Week 28
Saturday, 11 July 2009
Not a good week for the capesizes with the BCI descresing more than 1500 points or almost 25% from last week's closing, dragging the BDI down by more than 500 points to finally close the week around 15% lower. The panamax is much unchanged ...... link:
http://download.hellenicshippingnews.com/pdf/weberseas/WeberSeas%20Weekly%20Report%20July%2010-09.pdf
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Ovenstående og andre links for drybulk sektoren er på:
http://www.nordic-drybulk.info/
Have a nice weekend
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11/7 2009 09:45 fcras 015125 Friday, 10 July 2009 10:31
Shipbuilders are in a strong position when it comes to dealing with shipowners seeking order delays and cancellations.
Martin Stopford, managing director of Clarksons Research Services, said the total orderbook of more than $500bn was broadly covered by "decent legal" contracts.
"My understanding is that if you're a shipbuilder in a seller's market you ask for a first-class bank guarantee and you do not take a guarantee from a one-ship company or a company that has no assets of any sort," he said at a shipping and energy seminar.
"I've sat with shipbuilders quite a few times recently and I would say from their body language they do not look like people who are biting their nails about whether they have got the right documentation on their contracts.
"I would say that on the table we have $533bn worth of contracts and I would have thought most of them are reasonably binding."
http://www.vinamaso.net/news-events/shipbuilding-repair/yards-still-strong-in-cancellation-talks.html
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