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BDI fredag 17.07.09 +41 pkt

15406 fcras 17/7 2009 16:40

Baltic Exchange Dry Index 3542 UP 41

BCI Baltic Exchange Capesize Index 5957 UP 41
BPI Baltic Exchange Panamax Index 3324 UP 69
BSI Baltic Exchange Supramax Index 2051 UP 35
BHSI Baltic Exchange Handysize Index 843 UP 8

17/7 2009 17:03 fcras 015407

The long haul
STX Pan Ocean was revealed as the charterer behind a three-year deal for a Greek newbuilding on a day a plethora of ships went for long charters.

Dreyfus has also paid a stiff price for the same duration with Cargill getting a K Line newbuild for two years for less.

With so much movement in the period market it was easy to overlook the voyage market where both panamaxes and supramaxes made significant headway with rates over $40,000 a day in some cases.


STX is the one behind the charter of Golden Flame Shipping of Greece’s 180,000-dwt newbuilding at Jinhae for three years at $31,000 a day. TradeWinds reported on 9 July that the ship, due out in nine months or so, had been fixed for the period at $32,000.

Dreyfus has tied up some long-term deals of late and returned to take another 180,000-dwt newbuilding from Odense in the next six months for three years at $35,000.

The 174,000-dwt Successor (built 2007) grabbed $30,000 for the same stint.

Cargill put down $33,000 a day for two years with a K Line 180,000-dwt newbuilding from Kawasaki from the end of this year.

Vitol also has the 171,000-dwt Constantia (built 1996) for two years but at $32,000 a day.

Voyage rates were weak, however, with Rio Tinto only paying $55,000 a day for the 165,700-dwt Heythrop (built 1996) to run from China to Australia and back. A similar itinerary was getting $65,000 on Thursday.

Cosbulk did, however spend $64,500 a day for a roundtrip in the Pacific with the 172,100-dwt SA Fortius (built 2001).

And a back-haul only cost Bunge $34,000 daily with the 170,800-dwt Cape Lotus (built 2000).


Nothing as sexy in the period market here but Danzas did spend $20,750 a day for 11 to 13 months with the 78,800-dwt Triton Gannet (built 2009).

Deiulemar has the 74,400-dwt FD Salvatore Pollo (built 2007) for around the same stint at $19,000.

And STX paid a strong $32,500 per day for five to seven months with the 75,700-dwt Navios Hyperion (built 2004).

It all kicked off in the voyage market, however, with Hanjin paying a huge $42,500 daily for the 74,200-dwt Ocean Baron to run a front haul via the US.

The same itinerary cost just $2,000 a day less with the 76,600-dwt Medi Antwerp (built 2007).

Armada has been very active lately and returned to book the 82,600-dwt United Challenger (built 2008) on a roundtrip from Europe to West Africa at $33,000 a day. There is an option to do a transatlantic roundtrip at $1,500 a day more.

Cargill spent $32,000 a day and a ballast bonus of $650,000 for the 65,700-dwt SD Progress (built 1989) to leave the US Gulf for the Far East.


One roasting rate here too as big spender Oldendorff put down $35,000 per day for the 50,300-dwt Saffron (built 2004) to head to Europe from the US Gulf.

Norden has the 55,900-dwt KT Venture (built 2007) for a transatlantic voyage from North America at $22,000.

There were only short-term period deals here and the 50,400-dwt Da Peng Hai (built 2002) went for five to seven months at $16,500 per day.

And STX Pan Ocean straddled all three main asset classes with a play for three to five months with the 45,600-dwt Union Ranger at $14,500 daily.

By Eoin O'Cinneide in London
Published: 12:59 GMT, 17 jul 2009 | last updated: 12:59 GMT, 17 jul 2009

18/7 2009 11:48 fcras 015444


Saturday, 18 July 2009

Another strong week with the market rising sharply across all sectors with the BDI clearing the 3,000 point mark again ending the week nearly 19% up to close at 3,542 points......... link:
Handysize Bulk Carrier”Orient Sunrise” 2001 - 28.514 dwt. ( P & F Marine Co. Ltd., Korea)
17.07.09, departing Mackay, after loading grain - Photo: © tropic maritime photos, Australia

18/7 2009 12:00 fcras 015445

Barry Rogliano Salles Weekly Dry Bulk Market No 642

Saturday, 18 July 2009

Our pessimistic views from last week have proved to be right in view of further catastrophic plunges registered on rates ... especially at a time when bunker costs have quickly increased again. Facing weaker level of demand, the main victims are the large sizes...... link:

18/7 2009 12:49 fcras 015448

Friday, 17 July 2009 22:23

Rio Tinto and BHP Billiton have secured agreement from Chinese steel mills to a 33 percent price cut in iron ore , market sources said.

The sources, including people on both sides of the negotiations, said some mills had agreed to a 6 month contract and some a year, but there would be no formal announcement by the China Iron & Steel Association (CISA).

CISA officials were not immediately available to comment.

18/7 2009 21:23 fcras 015462

Citing a boost in Chinese iron ore imports that began sooner than expected, a Jefferies analyst hiked his earnings forecasts for US- and London-listed bulker owners Friday.

Ahead of the second-quarter earnings season, analyst Douglas Mavrinac also boosted his dry-bulk charter rate forecasts for 2009 and 2010.

"Chinese iron ore imports have resumed faster and in greater numbers than anticipated due to faster than anticipated rebound in steel demand and pricing arbitrage that favours Australian and Brazilian producers," the Houston analyst said in a note to clients.

Jefferies raised its 2010 earnings forecast for Eagle Bulk Shipping. The ramp up of Chinese imports has led to dramatic rise in bulker demand, leading Mavrinac to hike his third quarter spot capesize charter rate from $35,000 per day to $55,000 per day.
The analyst expects the trend to continue into next year as economic stimulus efforts take hold. As a result, he raised profits forecasts through 2010. His improved earnings outlook comes on the same day that Oppenheimer analyst Scott Burk raised his bulker company estimates by 1% for 2009.

New York's Eagle Bulk Shipping and Genco Shipping & Trading benefit the most from Jefferies' estimates hike.

Although Nasdaq-listed Eagle's forecasted 2009 profits fall from $0.96 per share to $0.85, the owner's 2010 forecast soars from $0.45 per share to $0.83.

Mavrinac hiked his 2009 estimates for Peter Georgiopoulos' Genco from $4.51 per share to $4.80. The company's projected earnings in 2010 leap from $3.81 to $5.02.

Bulker shares were divided on US markets Friday afternoon. DryShips slipped by 1.4% to hit $5.85 in early-afternoon trading, while Safe Bulkers led gaining shares with a 3.8% increase to $7.56.

By Eric Martin in Stamford

20/7 2009 01:06 fcras 015484

Saturday, 18 July 2009 11:08

China's Zhoushan Jinhaiwan Shipyard has received an additional 30 bulker orders from Grand China Logistics, which had become a new stakeholder of the shipbuilding company.

According to sources, ship types are said to be 57,000-dwt and 83,000-dwt bulkers for delivery from October 2010. The source said they signed the massive newbuilding contract on June 26th.

The shipowner had also ordered 30 bulker orders including 176,000-dwt bulkers earlier in June. Now the owner has 60 ships on order at Zhoushan Jinhaiwan.

Zhoushan Jinhaiwan plans to build the 57K and 83K bulkers at Zhongji Shipyard, an affiliate of Shanghai Zhouji Group.

Zhoushan Zhongji and Jinhaiwan shipyards are both owned by the group.

Meanwhile, Grand China Logistics will also buy a 51% stake in Zhongji Shipyard, which had been initially constructed to engage in shiprepair business.

On June 8th the shipowner ordered 18 176,000-dwt capesize bulkers and 12 80,000-dwt panamax bulkers at Jinhaiwan Shipyard.

The bulkers are set to be delivered from the third quarter of 2010 through to the second quarter of 2012. The contract price of these 30 bulkers reportedly exceeded $2bn and Grand China Logistics purchased a 50% stake in Jinhaiwan at the same time as ordering the vessels.

Main engines to be installed on the 60 bulkers will be mainly provided by Zhongji Hitachi Zosen Diesel Engine, a joint venture between Shanghai Zhouji Group and Hitachi Zosen.

Jinhaiwan Shipyard is Zhouji Group's emerging shipyard which operates two more shipyards including the Zhongji Shipyard.

The yards have a combined orderbook of over 100 ships including the massive orders placed last month.

Zhoushan Jinhaiwan Shipyard:
Grand China Logistics:

20/7 2009 01:08 fcras 015485

Taiwan: Local shipbuilder to build four coal carriers for Taipower

Sunday, 19 July 2009

Taiwan's largest shipbuilder, CSBC Corp., Taiwan, is slated to sign a contract with Taiwan Power Co. (Taipower) later Friday for the building of four 93,300-ton coal carriers, a CSBC source said.

The four bulk carriers, designed for operation in the expanded Panama Canal, are scheduled to be completed in two years and to be christened and launched by the end of 2011, the CSBC official said.

The ship-building contract will create an estimated 3,500 jobs and contribute to lifting the sagging economy in southern Taiwan, the official said. The contract, worth some NT$6 billion (US$181.81 million), is the biggest order that CSBC Corp., Taiwan has received since the start of the global economic crunch in 2008 and is expected to prop up the cash-strapped CSBC, he added.

The launch of the four carriers will also help to raise Taipower's rate of self-transported imported coal, lower cross-continent transport costs, and allow better access to supply resources, the CSBC official said.

Source: The China Post

20/7 2009 01:11 fcras 015486

Sunday, 19 July 2009

In a significant policy change that is expected to spur growth in the country’s infrastructure sector, the Indian government has allowed major port authorities to award port developmental contracts without prior ministerial approvals.

The move follows persistent delays in implementing various public-private-partnership projects that included new container terminals at the ports of Jawaharlal Nehru, Chennai and Mumbai.

“Port trusts have been sending proposals to the ministry before signing concession agreements with the selected bidders quoting the highest revenue share.

It has been decided that, henceforth, port trusts need not send the proposal for prior approval of the ministry before signing the agreement,” said Shipping Ministry officials.

They said port management can now make decisions at the board level, keeping the ministry apprised of such contracts.

The new guidelines come just as the ministry announced plans to augment the overall port capacity to 1 billion tons by 2012, from about 550 million tons now, to cope with the projected growth in cargo volumes.

The ministry plans to award nearly 25 projects under public-private-partnership development model during the current fiscal year ending March 31, covering total investment of about $5 billion.

There are 12 major ports in India, equally spread over the west and east coasts, which handled 530 million tons of cargo in fiscal 2008-09, compared with 519 million tons the previous year.

Consolidated container volume totaled 6.85 million TEUs, up from 6.71 million TEUs.

Total traffic in the April-June period, the first quarter of fiscal 2009-10, rose to 136.6 million tons from 134 million tons a year earlier.

Box volume dropped to 1.6 million TEUs from 1.8 million TEUs.

Source: Journal of Commerce