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BULK - BDI Week 11 -3,63 % / Weekly Market Report

27401 fcras 20/3 2010 07:06

BDI week 11

Baltic Dry Index 3379 -127 (-3,62%)

Baltic Capesize 3522 -806 (-18,62%)
Baltic Panamax 4344 +167 (+4,00%)
Baltic Supramax 2929 +198 (+7,25%)
Baltic Handysize 1468 +130 (+9,72%)


March 19th, 2010 / Week 11

The capesize market buckled this week with the BCI losing just over 800 points to end the week nearly 19% down, dragging with it the overall index with the BDI ending 3.6% down for the week.

It was a different story for the other market segments, the smaller the segment the bigger the gains with the BPI ending 4% higher, the BSI over 7% higher and the BSHI adding nearly 10% for the week.

The Baltic Index average panamax t/c rate is at its highest level since November 2009, hovering below US$ 35,000 p/day. That is up around US$ 2,000 from last week.

The Europe/Asia front haul route has nearly reached the US$ 47,000 p/day level, nearly at the last 18 month highs which we saw in the beginning of the year.

In the Pacific the April coal cargoes will help the market to remain firm, at least in the last week of this month.

Good news also for the handysize sector as rates reach the September 2008 levels and with an upward trend set to continue.

The grain season has helped and we are starting to see some very strong rates being paid, like the US$ 34,000 p/day paid by Transgrain for a 2004 built 28,000 Dwt handysize for a trip between South America to the Med/Cont.

. With these positive news activity remains high with prices remaining firm. Asset values are at a 16 month high, mainly due to the various Asian buyers who are now not only looking for the older ships but are also seeking more modern tonnage.

Yet another caper has been sold at lightning speed with Chinese buyers paying US$ 54.50 million for the ?MINERAL CAPEASIA? (175,000 dwt / blt 2005 SWS) with balance of charter included at US$ 25,000 p/day for about 1 more year.

Vroon has sold two Kamsarmax bulkers built 2008/2007 for a firm US$ 88 million en bloc, namely the ?PERUVIAN EXPRESS? (82,500 dwt / blt 2007 Tsuneishi) and the ?PHILIPPINE EXPRESS? (82,500 dwt / blt 2008 Tsuneishi).

Chinese buyers are believed to be behind the deal although at the time of writing this was not confirmed.

- more here:


21/3 2010 15:47 fcras 027427

Mercator nets big

Indian cargoes destined for China have been filling supramaxes of late but one charterer went to the panamax sector for a high-priced such fixture on Friday.

There was also a very sturdy rate for a front haul and numbers above $30,000 a day in the Pacific but the index is getting dragged down towards a fall.

Capesizes (Index friday 32.152 usd/day)

There wasn?t much movement here heading into the weekend but Swiss Marine did spend $35,000 a day for an Atlantic roundtrip with Tai Chong Cheang?s 168,400-dwt KWK Genesis (built 1996).

Panamaxes (Index friday 34.906 usd/day)

An unidentified player fixed Marcator?s 82,300-dwt Prem Vidya (built 2006) out of India to China this months at a massive $55,500 a day.

Similarly North China Shipping took the 75,300-dwt Giovanna Iuliano (built 1997) from Singapore to India and back to the Far East at $42,000.

Staying in the high numbers a front haul via the US set MOL back $54,000 with Andriaki Shipping?s 82,800-dwt Kesaria (built 2009).

Dreyfus coughed up $35,000 per day for the 77,800-dwt Tai Promotion (built 2004) to head from Asia to South America and back.

Similarly, the 76,600-dwt Star of Sawara (built 2008) was fixed for a roundtrip in the Pacific from the Far East to South America at $33,250 a day.

A clean $33,000 daily got Bocimar the 72,500-dwt Kind Seas (built 2000) from China to Australia and Taiwan.

And another $500 a day less saw the 72,400-dwt Ocean Pride (built 1997) fixed from Southeast Asia to the Far East.

Deiulemar returned to the period market after yesterday?s one-year deal, booking the 74,700-dwt Rosalia d?Amato (built 2001) for 14 to 16 months at $30,500 per day. It is thought to be a relet from Aquavita which took the ship in January for two years at $24,500 a day.

Norden has the 74,800-dwt Angelic Peace (built 2001) for 11 to 13 months from China this month at $26,500.

And five to seven months set Pacific Bulk back $30,000 a day with the 69,300-dwt Joyous World (built 1995).

Supramaxes (Index friday 30.629 usd/day)

There was not much stirring here and generally rates seem to be softening.

The $41,000 a day on offer for the 55,600-dwt Yasa Emirhan (built 2008) to head from India to China was large but also as high as it got.

A Korean charterer has the 53,300-dwt Nova Gorica (built 2008) for a two-legged intra-Asian trip at $31,000 a day.

Cargill spent $29,000 a day on the 46,600-dwt ID Nord (built 1999) from West Africa to South America and on to Europe.

By Eoin O'Cinneide in London
Published: 13:35 GMT, 19 Mar 10 | updated: 13:35 GMT, 19 Mar 10

Photo: Richards Bay Coal Terminal (RBCT) South Africa