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BULK - Week 12 / BDI ned 8,32 % / Weekly Market report

27631 fcras 27/3 2010 08:45

BDI week 12

Baltic Dry Index 3098 -281 (-8,32%)

Baltic Capesize 3244 -278 (-7,89%)
Baltic Panamax 3965 -379 (-8,72%)
Baltic Supramax 2647 -282 (-9,63%)
Baltic Handysize 1449 -19 (-1,29%)


March 26th, 2010 / Week 12

The market was scheduled for a correction and this week all the indices (except for the BHSI which lost marginally excess 1%) lost about 8-10% of their value. The capesize market is suffering from the lack of activity of the major iron ore producers.. The easing of the congestion around the world is also increasing the supply of ships which are chasing fewer and fewer cargoes.

With this volatility in the market and with the ongoing grain season we are seeing very good rates in the Panamax and Supramax sectors, where not only spot fixtures are in play but also medium to long term time charterers.

So it is no surprise that, apart from the sale of the capesize ?NORD-ENERGY? (180,310 / 2004 Japan)* at US$ 60 million to Chinese buyers, we are mainly reporting sales of panamax and supra-handy max tonnage. What does surprises us is that a few panamax bulker deals involve low t/c and bareboat structures at firm price levels.

Spar Shipping** is continuing its fleet renewal and has moved to secure upto 8 supramax 2010/2011 re-sales from the Bourbon Group of France for a total of about US$ 232 million.

Activity in the tanker sector has also picked up. We are reporting the sale of another modern aframax tanker to Bright Oil of China, namely the ?ARSOS? (107,500 / 2010 Japan) for a US$ 52.50 million price tag.

- more here:

?NORD-ENERGY? 180,310/04 - KOYO MIHARA - B&W 25,329 - 9HH - SS 11/2014, DD 09/2012
Sold on subs for $60 mill. to Chinese buyers

D/S Norden

8 x ?DAYANG RESALES? 58,000/10-11 - DAYANG - B&W 13,542 - 5HH - C 4X30T
Sold en bloc for $29 mill. each to Norwegian buyers (Spar Shipping).

Spar Shipping