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BULK - Week 19 / BDI +8,90% / Weekly Report

29261 fcras 15/5 2010 07:08


Baltic Dry Index 3929 +321 (+8,90%)

Baltic Capesize BCI 4804 +456 (+10,49%)
Baltic Panamax BPI 4340 +278 (+6,84%)
Baltic Supramax BSI 3076 +188 (+6,51%)
Baltic Handysize BHSI 1481 +69 (+4,89%)

May 14th, 2010 / Week 19

Another solid week for the dry market with the BDI reaching just short of the 4000 point mark adding nearly 9% for the week.

All of the indices were well up as the market is showing its strength. With it came stronger period activity across all areas.

Whilst the newebuilding supply of ships continues, it seems that demand factors are very strong. Port congestion around the world continues to take ships off the market (at Newcastle, Australia alone there are some 33 vessels queuing off the port waiting to load 2.87 million tonnes of coal).

At the same time the world economy appears to be recovering at a steady rate with U.S. consumption (the driving force of global growth before the crisis) having gained significant momentum.

Another good factor for dry bulk growth is the fact that the demand for non-oil commodities has grown at a remarkable pace in April. According to the World Bank non energy commodity price index increased by 9.6% in April alone, up from 1.7% in March !!!
The index was supported by iron ore, agriculture and precious metals, while some industrial metals saw minor losses.

So, whilst this week we are once again reporting few deals (than what we have been used to in the 1st quarter) we are seeing strong prices being paid and last done prices are higher than the previous done deal. A prime example is this week's reported sale of the panamax ?GEMINI S? (75,200 dwt / dlt 2009 Hudong) for US$ 43 million.
About one month ago her same age sistership ?Iorana? was committed for US$ 41 million.

Interest for the handysize sector remains strong with many buyers offering for the ?FORTUNE EXPRESS? (30,109 dwt / blt 1998 Japan) which has been committed for US$ 21 million.

With all this activity it is no surprise to us that the demolition market is somewhat subdued with little activity.

The sale of a 1991 built VLCC to China at US$ 435 per lightweight was a surprise as one would have thought that she could have achieved a better rate in the sub-continent however it seems that the price differential is small or non existent.

- more here:


15/5 2010 07:21 fcras 029262

BULK - Fixtures 14.05.10 / DRYS Cape $77,000 a day***

DryShips defies
Although rates for the largest bulkers remain under pressure DryShips today pulled off a $77,000 a day deal.

Generally the capesize market was down but Minmetals paid a handsome rate for a voyage that is to begin in Europe, continue via Africa, or maybe South America, to the Far East.

There was also positive sentiment in the panamax and supramax markets.


Capesizes (BCI 14.05.2010 / 49.931 usd)

Minmetals booked DryShips 171,000-dwt Alameda (built 2001) for a Netherlands - Mauritania option Tubarao ? China voyarge for $77,000 a day.

IVS is paying $37,000 a day for Newfront Shipping?s 152,000-dwt Brazil (built 1995) to make a China via Brazil to Middle East voyage.

ArcelorMittal booked Hanjin?s 151,000-dwt Hanjin Capetown (built 1993) to carry a coal cargo at $22.25 a tonne from Australia to a Rotterdam range port.


Panamaxes (BPI 14.05.2010 / 34.901 usd)

Norden fixed Genco Shipping?s 74,000-dwt Genco Beauty (built 1999) for 11 to 13 months trading at $27,000 a day.

Top Ships? 76,000-dwt Cyclades (built 2000) was booked for five to seven months trading at $32,500 a day.

Windrose is paying $40,000 a day to book First Steamship?s 74,000-dwt Ever Shining (built 1999) from late May to October.

Polish Steamship?s 73,000-dwt Orleta Lwowskie (built 1991) got a four to six month charter from undisclosed interests at $35,000 a day.

TTMI fixed the 77,000-dwt Osmarine (built 2006) for a Mediterranean via Gulf of Mexico to Japan voyage at $44,000 a day.

Grand China Shipping is paying $42,000 a day for the 74,000-dwt Golden Shadown (built 1997) making a Singapore ? Indonesia ? Malaysia voyage.

Bocimar booked the 70,000-dwt Hanjin Tacoma (built 1994) for a Malaysia ? Indonesia ? Hong Kong voyage for $39,000 a day.

Bunge is paying $38,000 a day plus a ballast bonus of $375,000 for the 80,000-dwt Golden Eclipse (built 2010) to make a Middle East to Spain voyage.

The same charterer fixed the 83,000-dwt Tiare (built 2009) for a China ? Australia round trip for $35,000 a day.

Windrose fixed the 77,000-dwt FD Vittorio Raiola (buit 2010) for $38,000 a day a couple of laden voyages from the Baltic to the Mediterranean.

Parakou is paying $36,000 a day for the 74,000-dwt Riruccia (built 1997) to undertake a China ? Indonesia ? Taiwan voyage.

The 75,000-dwt Ecomar GO (built 2008) is off on an India via South America to Far East voyage for Eitzen for $35,250 a day.

United booked the 70,000-dwt Obelix Bulker (built 1998) as a Pioneer Navigation relet for two laden legs from the the US east coast via Brazil to the Mediterranean at $35,000 a day plus a ballast bonus of $550,000.

Oldendoft hired the 75,000-dwt Nikolaos (built 2009) for a China ? via Australia to India voyage at $33,500 a day.

Western Bulk Carriers is paying $30,000 a day plus a ballast bonus of $565,000 for the 74,000-dwt Anangel Omonia (built 2006) undertaking a South Africa to California trip.


Supramaxes (BSI 14.05.2010 / 32.160 usd)

Pacific Basin fixed Odysea Carriers 53,000-dwt Anastasia S (built 2004) for five to six months trading at $29,500 a day.

Ugland Marine?s 52,000-dwt Fermita (built 2001) has also been chartered to undisclosed interests for four to six months for $29,500 a day.

Eitzen booked a couple of vessels paying $55,000 a day for the 53,000-dwt Supramax Vivi (buit 2008) to make a Gulf of Mexico to Turkey voyage and $35,000 a day for the 52,000-dwt Ocean Princess (built 2002) making a Philippines via Indonesia voyage to India.

Undisclosed charterers are paying $35,000 a day for the 58,000-dwt Ilia (built 2009) making a Northern Europe to Middle East voyage.

Oldendorff fixed the 56,000-dwt Honest Spring (built 2008) at $30,000 a day for two laden legs from China to a Far East range port.

Pacific Basin booked the 46,000-dwt Silky Ocean (built 1995) for a Japan ? North Pacific ? South East Asia voyage for $24,500 a day.

By Jim Mulrenan in London
Published: 14:42 GMT, 14 May 10 | updated: 14:47 GMT, 14 May 10