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July 03, 2008 10:37 AM
Coal is also increasingly entering the market from South Africa, brokers tell BMTI. Corus charters the 2002-built "Paschalis D" for US$169,000 daily on delivery Rotterdam via Brazil redelivery Continent. -bmti.de July 02, 2008 08:49 AM The European shortsea market seems to be heading for a quiet summer as activity is slowing down on almost all fronts. The Baltic has taken the deepest fall and owners are now forced to accept almost any offer to get their ships afloat. -bmti.de July 01, 2008 11:25 AM The first half of 2008 has most likely been the best in 35 years for the commodity market; however, analysts expect the market will come down soon as the high prices for crude oil and other commodities may reduce demand while at the same time producers are increasing supply. -bmti.de June 26, 2008 01:50 PM There is some drifting in back haul and inter-Atlantic Cape trips ex-Africa, but current trends are up. Judging by market behavior this month so far, however, few would suggest such rate climbing will persist today or to which degree. -bmti.de June 25, 2008 10:43 AM Apart from some stability via India, activity is sleepier for the Handysizes and Supramaxes and the orders that are being dangled out there are being taken by the larger vessels, brokers tell BMTI. -bmti.de June 24, 2008 07:57 AM Pacific area traffic for Panamaxes, in and out, climbs apace with the front and backhaul ratings upgraded by 700 points and improvements in South America fronthaul pushing downward on Far East avails. -bmti.de June 23, 2008 08:36 AM US delivery is shaky for Handysizes, though flooding along the Mississippi River, which has barges now stranded along a 300 km stretch at mid-river, has begun to recede and prospects of USG grain exports do improve somewhat. -bmti.de June 20, 2008 11:23 AM Panamaxes counter the prevailing western rate pressure today as Atlantic overtonnage fails to dampen sentiment as charterers had hoped and markets turn the corner — cautiously positive with 1,000-1,500 point improvements on all the routes, East and West. -bmti.de June 18, 2008 10:52 AM Markets in the Continental coaster trades take a cue from the worldwide bulker market as business turns south and chartering brokers finding some success in asserting lower rates for forward business. -bmti.de June 17, 2008 10:59 AM Handy bulkers retain some firmness in the Pacific while the Atlantic seems to be losing more ground, further exaggerated by the current flood situation on the Mississippi River cutting back on normal US Gulf grain exports. -bmti.de June 16, 2008 09:12 AM Handy tonnage opening in the Atlantic is becoming a problem for area owners as western trips fall close the gap on their Pacific counterparts. Period business, though, holds firm with short periods at mid-US$ 60,000s daily for modern Tess 52s. -bmti.de June 12, 2008 01:32 PM The balanced Cape standoff slips into a slide as overall activity dries up as negotiations for the late month positions get more tense. A five-year charter is locked for the charterer-friendly level US$51,000 daily on a newbuild 180,000-tonner. -bmti.de June 10, 2008 05:55 AM NoPac rounds slide a bit for Panamaxes, Pac voyages are firm, but trans-Atlantic stays on the down slope with a lack of enquiry and a surplus of vessels coming open for prompt business. Argentina soya stays blocked, as do talks. -bmti.de June 06, 2008 08:50 AM Panamaxes keep on gliding sideways overall as the BPI accumulates only 16 points, though the neutral general movement hides a split in East-West performance with the Atlantic round losing US$1,090 in the day and front haul (route P4) gaining by nearly the same (US$1,092). -bmti.de June 05, 2008 08:36 AM Handysizes are still suffering from the Argentinean strike situation which is painfully illustrated by the decline of US$2,221 on the route covering ECSA to Continent which now stands at US$72,150. -bmti.de June 04, 2008 09:41 AM Slippage continues unabated for Handy bulkers in the Atlantic. With the exception of healthy scrap inflows to the Black Sea, charterers in the western basin are enjoying the upper hand while owners put up resistance. -bmti.de June 03, 2008 09:07 AM It is rumoured that India is about to impose an export duty on iron ore of 15% in a renewed effort to curb inflation which is partly caused by a 50% increase of domestic iron ore prices since the start of this year. -bmti.de June 02, 2008 08:08 AM Modern Capes from Brazil to China are doing well with pre-vailing rates back in the US$ 270,000s and rising rumours of US$ 280,000s daily. BMTI is informed of sustained high activity in the Pacific with no slowdown into the weekend bringing on, most likely, a very busy day today as well. -bmti.de May 30, 2008 09:01 AM Heightened booking activity by Cape charterers is strongest in the Pacific with the Pac round up by a resounding US$9,730 to US$223,538 and several modern vessels snapped up for Oz/China business at rates in the US$210-220,000 range. -bmti.de May 29, 2008 08:13 AM Scrap redel stays lively to the lower Continent for Handy ships, but otherwise the western trades, particularly via South America, have turned calmer in anticipation of shifting from above. Inter-Pacific markets are tightly locked. -bmti.de May 28, 2008 08:24 AM Panamaxes enter full-on correction mode, urged on by Monday's UK bank holiday, as another 4% slide is logged on the BPI and finally some rate reductions seen on last dones with the inter-Pac trips now below US$70,000. Stand-offs have also begun. -bmti.de May 27, 2008 09:59 AM The Pacific Handy market, calmer into the weekend, still astounds on front haul with grains from SA to NoPac now seeing over US$70,000 daily on modern 54,000dwt vessels — a similar rate now given for Indian ore to China. -bmti.de May 23, 2008 09:35 AM The US$303,000 daily mark achieved on the "China Steel Team" for iron ore Brazil/China (203,512 dwt) leaves little doubt that earnings are still historically impressive. -bmti.de May 21, 2008 10:26 AM Panamaxes ease off the boil, though rates show no sign of falling. Short period dominates the show with year-period now well into the mid 80,000s. -bmti.de May 20, 2008 12:17 PM Black Sea redelivery is still making bank for a broad range of Handy vessels; BMTI has learned of a late 1970s-built vessel of 35,000dwt chartered from Monrovia at the exact double dollar-per-dwt rate of US$72,500 daily—presumably with scrap. -bmti.de May 16, 2008 09:09 AM Panamaxes fly onward and upward with the BPI up 6% and the TC average up by US$4,820 to US$84,637. With the whole market in flux, the Atlantic hosts the biggest rises in spot rates. -bmti.de May 15, 2008 09:17 AM Handy bulk owners have little to complain about with talk of UKC dely on 48,000dwt modern vessels now achieving double dollar-per-dwt rates. -bmti.de May 14, 2008 01:32 PM Inter-Med coaster traffic is still robust with US$24/t reported as linked to a 4,000t mineral cargo on delivery Greece and redel Spanish Med, plus new inflows of grains via Black Sea, particularly wheat over eastern Europe. -bmti.de May 13, 2008 11:17 AM Trans-Atlantic coal flows with Capes, in particular the Richards Bay to Rotterdam route, are on the uphill climb with spot freight on modern tonnage at US$47-48/t, coming within a hair of the record US$50/t seen six months ago. There is no let-up in sight. -bmti.de May 12, 2008 10:16 AM With Argentine grain farmers on Friday calling an 8-day strike, shippers can expect havoc this week on South American grain trading routes as well as the mid-Atlantic at large. -bmti.de May 09, 2008 10:55 AM The smaller, older ladies are well represented by the reports that the 1984-built, 63,700dwt "VSP Diamond" has been taken passing Passero end-May for 4-6 months trading and redel in the Atlantic with Windrose at a huge US$78,000 daily. -bmti.de May 08, 2008 09:19 AM The ECSA grain market is pushed to plunder Supramax tonnage from the Indian Ocean with US$65,000 daily paid to the 2007-built, 58,000dwt "Genco Hunter" taken with delivery New Mangalore for a trip via ECSA to Singapore-Japan range. -bmti.de May 07, 2008 09:40 AM With no new definitive news from the South Atlantic about the Argentinean strike, Handy charterers are more and more forced to seek tonnage from the Mid-East and, in time, from SE Asia. -bmti.de May 06, 2008 11:33 AM It may have been global holidays on Thursday and some brokers bridging the weekend but the Cape market is not about to lie down as the BCI moves on a hefty 319 points. -bmti.de May 02, 2008 09:54 AM BHP Billiton are reported to have taken at least six vessels for West Australian rounds in the last few days, five on voyage basis at around US$30.50 with only the 180,000 dwt, 2006-built 'Bulk Hong Kong' holding positions to secure US$160,000 daily. -bmti.de May 01, 2008 11:47 AM Steady US domestic steel demand combined with higher prices for imports and freight impeding further inflows is driving US prices skyward. Sources tell BMTI that some US-origin products have climbed by US$150/t since early April. -bmti.de April 30, 2008 11:28 AM The North Sea is said to be getting harder on shortsea charterers with tonnage very tight. BMTI has heard of several UK-origin soya cargoes of 2-3,000t being fixed at rates above EUR 15/t on redeliveries along the eastern Baltic. -bmti.de April 29, 2008 09:26 AM From the Continent come stories that the 23,300dwt "Mallika Naree" has been taken from Dublin via UKC to Turkey with EMR at a huge rate of US$47,000 daily. -bmti.de April 28, 2008 11:38 AM Panamaxes slip into pre-holiday mood with little activity in all basins and the index hardly moving up by 7 points to 9,287 on Friday while the time charter average creeps up US$30 ending at US$74,723. -bmti.de April 24, 2008 11:55 AM Market analysts say that the reasons for today's high oil prices are not to be sought in the oil market itself, but are rather a result of the weak US dollar which has many investors turning to 'secure' investments like gold and oil.-bmti.de April 23, 2008 08:42 AM The shortsea market keeps firming up with tonnage still being hard to find in all regions. Especially in the ARA region, charterers are having a difficult time to get their freight on the water.-bmti April 22, 2008 08:21 AM The largest part of Brazil's sugar output of the current season (March-February) may go to ethanol refineries, according to a statement by the London-based International Sugar Organization.-bmti April 21, 2008 08:19 AM There is more reported activity to the Atlantic with rates being discounted against Pacific trip levels. A 47,000dwt open China has fixed a trip via Australia with redelivery Continent at US$35,000 daily, a 48,000dwt giving delivery Taiwan takes a trip via Indonesia with redelivery in the Mediterranean at US$37,500 daily.-bmti April 17, 2008 01:28 PM The Atlantic still looks firm for the Handies with reports of the "Sealink" (28,234dwt, 1983-built) earning US$43,000 on a trip from Tampa via the Caribbean to Black Sea and the Brazil to Continent route gaining another US$1,028 today.-bmti April 16, 2008 08:47 AM The European shortsea market is gaining strength across the board. In the northern regions, charterers are having a hard time finding tonnage to take their freight as many vessels are booked well ahead and owners are pushing for higher rates.-bmti April 15, 2008 12:25 PM Vietnam, the world second largest supplier of rice, has re-imposed earlier restriction measures that will cut rice exports by 22%. In 2007, the country exported 4.5Mt rice.-bmti April 14, 2008 12:08 PM Again, the Panamax markets remain steady with the week ending up on a positive note with rates in both hemispheres being marked up and the BPI shifted upwards 98 points.-bmti April 11, 2008 10:55 AM The dry bulk futures market has been relatively stable this week with a slightly downward tendency for most contracts. April contracts for Capes and Panamaxes are down while the Supramaxes have climbed by US$1,250 to US$51,750 over the last four days.-bmti April 10, 2008 08:52 AM Handy bulk holds firm in the Atlantic with overflow from peak grain season quickly absorbing area avails. Uncertainty is on the rise in the eastern basin, however, with the continued slackening in dely from India also applying pressure. -bmti.de April 09, 2008 09:14 AM The uplift in spot rates has arrived in earnest as UKC coaster owners tell BMTI they are being pursued by charterers. A 3,000t cargo of grains from the German Baltic to the northwest UK has been fixed at EUR 29/t. -bmti.de April 07, 2008 10:56 AM The new business week kicks off with both Supramaxes and Handymaxes recording minor falls as sentiment suggests that there is a levelling out on the way, but in the Far East short rounds have already fallen to little more than US$40,000 daily. -bmti.de April 04, 2008 11:02 AM There are signs that the Handymaxes in the South Atlantic may reap the advantages of the suspension of the Argentine farmers strike sooner rather than later, though the 30-odd vessels stacked up waiting will have to be cleared out first. -bmti.de April 03, 2008 10:36 AM Some cheaper Cape rates are being agreed on the Richards Bay to Rotterdam run at US$34.75 and US$33.50, though there are special circumstances surrounding both and a clearer view of back haul is provided by the US$40.00 paid on a Cape Lambert to Port Talbot run. -bmti.de April 02, 2008 09:16 AM Brokers' belief that Pacific Panamaxes are sliding is backed up with one of the few reported deals of the 1997-built, 71,300dwt "Eternal Wind" open Japan 5-7 April and booked for a NoPac round with redel Singapore-Japan range at US$58,500. -bmti.de April 01, 2008 09:32 AM Market analysts expect that iron ore prices will rise another 10% next year as miners may fail to meet demand. However, other specialists from Deutsche Bank forecast that prices will drop by the same percentage in 2010. -bmti.de March 31, 2008 09:03 AM Far East Handysizes are showing more stability than the larger sizes with rates for the modern 28,000 dwt vessel holding consistently in the 30s and there have been whispers of even low 40s concluded, but nothing definitive. -bmti.de March 28, 2008 12:08 PM BMTI hears three things from correspondents about unchanged Panamaxes: the east coast of South America is still locked into strike panic with Argentine grain producers holding cargoes indefinitely, paper markets are nervous and short period levels are turning stagnant. -bmti.de March 28, 2008 09:52 AM BMTI hears three things from correspondents about unchanged Panamaxes: the east coast of South America is still locked into strike panic with Argentine grain producers holding cargoes indefinitely, paper markets are nervous and short period levels are turning stagnant. -bmti.de March 26, 2008 10:49 AM Concerning Richards Bay loaders there are plenty of rumours suggesting that BHP Billiton has taken the 'Cape Harrier', 'Anangel Explorer' and latterly the 'Mineral Noble' all for 150,000t stems to Rotterdam with laycans of 5-15, 25-30 and 15-25 April at US$35.00, 35.00 and 34.75, respectively. -bmti.de March 25, 2008 01:12 PM Spotty immediate sentiment for Panamaxes belies stronger forward sentiment with front haul still getting up into the mid/high 70s (if not the 80s) like the 2002-built "Capt. Stefanos" from Plate to Korea at US$75,000 daily, which brokers tell BMTI actually represents the low end. -bmti.de March 19, 2008 01:50 PM Steels keep Black Sea coaster owners very busy and there has been no slump in trade volume this month so far, particularly for the eastern Med redels. The western Med is under more pressure as grain exports decline into the Easter holidays. -bmti.de March 18, 2008 03:15 PM The sky-high India to China spot trips are not enough to keep eastern Handysizes afloat as the NoPac round assessment falls by US$495 to US$54,955, albeit a fairly moderate 1% drop that broker sources deem impressive in light of recent highs. -bmti.de March 17, 2008 09:42 AM Supramax period rates once again go berserk with rates significantly higher than the trip rate, east coast India delivery excepted, indicating a belief that the market has further to run. -bmti.de March 14, 2008 10:45 AM Volatility still defines the FFA trades with daily swings in the Baltic Exchange indices magnified in even wider swings in monthly and quarterly ratings in the daily futures trades. -bmti.de March 13, 2008 12:24 PM Brokers inform BMTI that the charterers who hired the 56,000dwt "Leo Advance" India/China for US$100,000 daily relented to the premium because the vessel was literally the only one free inside Haldia and not held up in a congestion queue, as are all other area ships at the moment. -bmti.de March 12, 2008 02:15 PM North Sea and Baltic shortsea activity is as mixed as anywhere else in Europe with minerals reported to be on the move from the German Baltic to northern UK and reports of 2-4,000t grain from Ukrainian Baltic to WCUK at EUR 27.5/t. -bmti.de March 11, 2008 09:23 AM Panamaxes are more of a wild card with the unsustainable climb in rates last week judged to be on the way down later this week—however, just as many brokers say they don't expect the corrections to be very severe. -bmti.de March 10, 2008 12:47 PM The most notable Supramax spike has been in rates from W.Africa where there is now said to be no available ships whatsoever, such has been the rush for grain trips to the Far East. -bmti.de March 06, 2008 09:44 AM Grain charterers like Cargill are said to be floating several modern Tess 52s on Pacific rounds at US$60,000 daily and higher while the Continent is producing a number of short period fixtures for smaller 24-28,000-tonners at 3-month periods for US$35-36,000 daily. -bmti.de March 04, 2008 08:33 AM The dry bulk shipping market will hardly be affected by the crises of the US financial markets, says Fábio Barbosa, CFO of Vale. -bmti.de March 03, 2008 10:21 AM Period is much in evidence with Supramaxes being actively hunted down to cover the prospect of increased Indian coal imports and US$60,000 daily is certainly on the table for 12 of months trading. -bmti.de February 29, 2008 08:49 AM Despite the volume, the Panamax market does not appear to be going anywhere fast and indeed when one looks at the inherent strength with an Atlantic delivery worth in the region of US$70,000 daily it is understandable that the volume must be massive just to tread water. -bmti.de February 28, 2008 01:53 PM Pacific Cape ore voyages are trading in a wide band of variance of about US$24-26/t. The relet sequence on the 160,000t "Ormond" ore voyage from Rio Tinto to Glory Wealth to Sinoeast would seem to indicate enough demand to net a relet, though only at a watertight premium. -bmti.de February 27, 2008 11:44 AM European shortsea cargo flows are solid if unchanged via the upper Baltic with a 2,000t mineral freight from Rotterdam to Poland reported at US$23/t and a US$47/t trip said to be fixed with steels from Hamburg to Bergen. -bmti.de February 26, 2008 07:43 AM Short period Panamax business is still very well-represented—and still trumping spot—with Cosco USA taking the BBL relet, the 1995-built "Maria Bottiglieri" for a year of trading at the rate of US$70,800 daily. -bmti.de February 25, 2008 10:29 AM General Handysize supply trends are positive ratewise with the world fleet only growing by 2-3% last year to around 3,200 vessels and the existing fleet, of which around a third are over 25 years old, aging rapidly, meaning that even more vessels will be scrapped over the coming year. -bmti.de February 22, 2008 09:49 AM The port of Paranagua has suffered two setbacks over the past 48 hours, one being that Antonina-Ponto do Felix can no longer be used for the discharge of fertilizer vessels, due to a local dispute, the second that night navigation is now prohibited due to missing light bouys, which should be fixed by the weekend. -bmti.de February 21, 2008 01:40 PM Supramaxes are outperforming their bigger Panamax cousins: There are reports that a 2008-built, 58,000dwt vessel open China had failed on subjects for the trip to the Atlantic, but then immediately refixed for a trip via NoPac to India at US$57,500 daily. -bmti.de February 20, 2008 08:52 AM S&P agents tell BMTI prices are generally up from January, often by more than US$1.5m on similar tonnage sold just four weeks prior. The 1995-built, 22,056 dwt vessel "Milena Star" sold for US$ 35.5m would have not achieved more than US$34m had it been sold in the second week of January. -bmti.de February 19, 2008 08:30 AM Supramaxes are looking sporty across the board. In the Far East there are reports that a 2002-built, 52,300dwt unit open Qingdao has been taken for a trip to West Africa with clinker at about US$54,000 daily. Atlantic markets, however, still remain a bit jittery. -bmti.de February 18, 2008 09:59 AM Cape business is momentarily focused on the Pacific ore voyages with Australian origin trips hovering around US$27-28 and up. Ore freight from Brazil to China has bounced in the last few days, climbing by almost US$6 since Wednesday to hit US$69/t. -bmti.de February 15, 2008 12:43 PM Armada shells out US$66,000 daily out for one year of trading from the Pacific on the 1997-built, 72,876dwt "Monte Pelmo", only US$ 500 short of a trans-Atlantic trip also chartered by Armada on a similar vessel -- and that tells one quite a bit about forward sentiment. -bmti.de February 14, 2008 08:27 AM What is interesting, or even mystifying, with the Pacific Panamaxes is the huge differential between spot trips and short period even if fixed on an early delivery; levels paid for the latter are as much as US$20,000 daily more. -bmti.de February 13, 2008 10:36 AM The Supramaxes, and now the Handies, are building on the strengthening sentiment of the last few days. As such, in the Pacific there are reports that a 30,000dwt modern vessel has been taken ex-Shanghai for a trip to the Persian Gulf at around US$30,500 daily. -bmti.de February 12, 2008 08:40 AM North American coking coal suppliers report a contract for 300,000t fob at US$275/t, which is more than double spot prices charged just a year ago and all the more astounding considering the robust Chinese domestic market where spot contracts for February are already at US$195/t fob. -bmti.de February 11, 2008 12:27 PM A 50,000dwt units from north China goes for 4-6 months at US$44,500 daily with an option of a further 3-5 months trading at US$ 44,500 daily -- and, brokers note, it’s been quite a long time since we’ve seen options in the Far East. -bmti.de February 07, 2008 10:02 AM It is mixed fortunes for Handy bulk. From the Black Sea there is plenty of enquiry to the Far East if you want it and Handymaxes can expect levels close to US$50,000 daily. Of greater attraction is short period, which is said to be trading in the low-US$40,000s daily. -bmti.de February 06, 2008 08:45 AM The S&P rumour mill has been even busier than usual with word of a pair of mid-1990s built ships, one 26,000dwt and one 8,000dwt, said to have been taken for US$36m and US$14m respectively, free of time charter requirements. -bmti.de February 05, 2008 12:37 PM The 1984-built, 36,900dwt "Gokan" has been booked with dely South Africa end-February for a trip to the US Gulf with Oldendorff at US$31,000 daily, which on the face of it does not appear too bad, but the vessel had to ballast all the way from south China to secure the business. -bmti.de February 04, 2008 08:26 AM Panamaxes have indeed been encouraged by the exploits of their elder sisters but the demand stream struggles to overcome the supply of tonnage. It looks better but is very positional with little support from South America and so the strain on the North Atlantic mineral trades turns intense. -bmti.de January 31, 2008 08:46 AM What a lot of fun and games today among the Cape markets as the index moves up 1,108 to 8,310, a record, and the time charter average shifts upward US$12,708, also a record, while the Pacific round moves up almost US$20,500 daily. -bmti.de January 30, 2008 11:20 AM Pacific Handymaxes continue to struggle with rumours that a 1997-built, 43,000dwt vessel open Japan spot has been taken with delivery aps Weipa for a trip with bauxite to Singapore-Japan range at US$21,000 daily plus US$20,0000 ballast bonus. -bmti.de January 29, 2008 07:23 AM In the Far East, period is still on the small-size agenda. The 2003-built, 55,000dwt "Navios Kyprios", fixed recently for 3 years at US$35,500 daily, has been sublet to Norden for 4-6 months trading at US$43,000 daily. -bmti.de January 28, 2008 08:25 AM In the Atlantic there appears to be more Cape enquiry with the front haul voyage establishing itself firmly around the US$50.00 mark or above and short period in the East or the West commanding levels in excess of US$100,000 daily. -bmti.de January 25, 2008 10:00 AM There is a lot of fixing in the Panamax trans-Atlantic rounds with at least five vessels awaiting subjects in the low/mid US$50,000s daily and one big 77,000dwt modern unit reported to have conceded US$53,500 daily. -bmti.de January 24, 2008 10:05 AM Iron ore prices ex-India to Chinese steel mills have remained unchanged over the week with 63.5% Fe product on spot at around US$188/t CIF (including a voyage freight rate of US$53/t). -bmti.de January 23, 2008 03:22 PM European shortsea traffic is slowly thawing out. Coking coal is moving from the UK with one report of a 2,000t freight to Spain for US$45/t while 4,000t of wheat from France has been chartered to the western Med at US$29/t. -bmti.de January 22, 2008 09:22 AM Trans-Atlantic business dominates the Panamaxes and here some of the older ladies are scoring well with the 1987-built, 69,000dwt "Maria V" achieving US$55,000 daily for delivery passing Cape Passero mid-January for a trip via Nouadhibou to Ghent with Mittal, which should provide useful short term cover. -bmti.de January 21, 2008 09:16 AM Indian outbound rates for Handy bulk look better than the Pacific trips with reports of a modern 46,000 dwt ship open on the east coast booking a time charter trip to China at the better rate of US$58,000 daily. -bmti.de January 18, 2008 10:10 AM In the Atlantic, the saga of the "Semirio" Cape continues with the US$126,000 daily level thought to have been agreed yesterday for front haul, renegotiated to US$115,000 daily today. -bmti.de January 17, 2008 02:02 PM Handies offer mixed messages in the eastern Atlantic with a couple of modern 28,000dwt units having to seek voyage cover from South America, although at the same time an overage 27,000dwt vessel open Mediterranean is reportedly covered for 2 laden legs at around US$42,000 daily. -bmti.de January 16, 2008 11:38 AM The short 3-4 month period fixed at a decent US$70,000 daily to ABT with the 2007-built Panamax "Nicole" is the exception that proves the rule of little time charter biz though it is interesting to see a period rate, even a short one, still surpassing most of the going spot rates. -bmti.de January 15, 2008 09:51 AM The story today is that Pan Ocean have seen US$61.00 and Cape charterers are now saying they will 'try' to get US$57.00, so it would appear that there are more falls ahead. -bmti.de January 14, 2008 10:22 AM The trans-Atlantic round voyage is the biggest Panamax casualty with a US$2,190 cut compared to a US$1,739 decrease in the Pacific. There's a need for a better balance between the Atlantic and Pacific, but today's close of US$451 leaves a long way to go with a differential of US$22,313. -bmti.de January 11, 2008 09:40 AM Wall Street sees a washout this week on bulker stocks with a daily ratcheting downward on shares such as Genco Shipping (GNK), TBS Intl. (TBSI) and DryShips (DRYS) shedding 10% daily each over the last three days to finish the week nearly 30% down from their positions on Monday. -bmti.de January 10, 2008 09:16 AM Again the big falls for Capesizes are in the Pacific where charterers are all talking under US$30 for the West Australia to China run although there are some reports that Port Hedland to China has been since covered at US$31 even. -bmti.de January 09, 2008 10:18 AM The Far East Handies appear to have bounced back. A modern 28,000dwt open Indonesia fixes for 2-3 laden legs redelivery India-Japan at US$37,000 daily, which is an excellent rate, helped, no doubt, by the delivery and redelivery range. -bmti.de January 08, 2008 09:00 AM The Atlantic has seen a lot of Panamaxes being covered and, with increased grain enquiry, now looks to be a very steady proposition but details of deals are in short supply and there still appears little enquiry to the Far East although levels are expected to break US$80,000 daily. -bmti.de January 07, 2008 09:53 AM Atlantic Handies offer impressive rumours like that of a 1983-built, 37,000dwt vessel booked with delivery passing Gibraltar for a trans-Atlantic round voyage and redelivery Black Sea at US$48,500 daily. -bmti.de January 03, 2008 12:16 PM Chinese buyers of ex-India iron ore this week have continued to resist current prices (now over US$200/t CIF) in mid-December to lead to sharp adjustments downward by as much as US$15/t over the week to US$185/t CIF on 63.5 Fe ore freights. -bmti.de January 02, 2008 10:59 AM Looking at the year ahead in the Far East: if it is still possible for tonnage to continue to outstrip supply it will be by a fine margin and there are other factors that could cloud this demand/supply simplicity. We believe this will make for a volatile 2008 that will have an overall weaker trend for freight rates. -bmti.de December 31, 2007 08:48 AM Pacific Handymaxes remain under considerable pressure, especially in north Asia where tonnage continues to build up. The levels for the modern 52,000 dwt ship are highly positional and could be anything from high-40s to mid-50s. -bmti.de December 28, 2007 08:46 AM There has been a half-hearted attempt by those obliged to work after the holidays to put some energy into the Far East Handy market. But despite these efforts little is happening and the apathy being displayed by the charterers is forcing the operators of early ships to accept weaker rates. -bmti.de December 24, 2007 06:09 AM The fall in Far East Panamax rates continues unabated with the conference level of US$70,000 daily for the Pacific round established last week and the beginning of this eroding sharply with news that the "Pan Uno", a 2001-built, 76,000dwt vessel, has been taken with dely Taiwan and split December-January dates for an EC Australia r/v at US$65,000 daily. -bmti.de December 21, 2007 10:48 AM Indian outbound rates for Handybulk continue to hold firm and this is the only area in the East where owners are guaranteed something close to the levels they have come to expect over the last few months. A modern 52,000 dwt ship fixes a trip from New Mangalore to China at US$70,000 daily. -bmti.de December 20, 2007 10:22 AM Voyage rates for iron ore India/China rose by US$4 over the week to US$55/t while FOB prices held firm at US$135/t (equating to US$190/t CIF). Chinese steel mills are said to now be facing severe iron ore shortages. -bmti.de December 19, 2007 01:37 PM In the Atlantic it is gratifying for Cape owners to see more December Brazil/China stems coming onto the market. But the second-half January stems are stacking up, too, with Pan Ocean quoting two new orders today, which would add to the two already open. -bmti.de December 17, 2007 08:23 AM Far East Handysizes manage to hold their market together. Despite talk that a few too many early ships are appearing in SE Asia, rates stay in the low-40s for the 28,000dwt types, mid-30s for 23-24,000 tonners and 30s for 18-19,000dwt ships. -bmti.de December 14, 2007 08:57 AM There is a report of a modern 54,000dwt ship giving delivery Dalian 15-20 December fixing a trip with redel India at US$48,000 daily but this is said to be only the tip of the iceberg with rumours of even lower rates being concluded. -bmti.de December 13, 2007 01:00 PM Chinese buyers of iron ore have been holding off for the past few days as Indian spot prices stay unchanged in the week at about US$186 cif, incl. a US$51/t freight rate (US$135/t fob). Australia/China rates fall by almost a dollar to US$ 38/t, Shanghai brokers confirm to BMTI. -bmti.de December 12, 2007 10:19 AM Shortsea brokers active via Spanish Med report some expansion in available tonnage there and, consequently, slippage in spot rates with inter-Med trips that were fixed at high-US$20s/t in mid-November for 3-5,000t minerals now at mid-US$20s/t. -bmti.de December 11, 2007 08:56 AM There are few if any Handymaxes open in the US Gulf for December, producing some incredible deals. Even the 52,500dwt 'Stellar Maris' taken passing Passero 15-20 December (thus unable to make December cancelling) is paid US$70,000 daily for a round via USG -- and this is said by some to be cheap! -bmti.de December 06, 2007 01:09 PM Pacific Capes are marked down like the Atlantic Capes but here there is more positive news on reports of the 1996-built 171,000dwt "Cape Stork" open Beilun 14-15 December booked for a West Australian round at US$184,000 daily and word that a Chinese Steel mill has done Australia/China at US$39.00. -bmti.de December 04, 2007 08:33 AM It is in the Pacific where all the fire works are concentrated as reports reach BMTI that the 2000-built, 170,000 dwt "Alpha Era" open Qingdao 13/14 December is covered by Rio Tinto for an Australian round at a very firm US$ 180,000 daily. -bmti.de December 03, 2007 07:57 AM Friday's fixing spree is well reflected in the cracking fixture of the 1993-built, 65,672 dwt "Irene" booked with delivery Amsterdam 1-10 December for a trans-Atlantic round voyage and redel Gibraltar—Skaw range at the rate of around US$80,000 daily. -bmti.de November 30, 2007 11:20 AM Scrap is keeping the Continent Handysizes afloat and there are reports that a 33,000dwt unit open North Europe has been paid around US$55,000 daily for a trip to the Eastern Med. -bmti.de November 29, 2007 01:31 PM There is gossip among the Far East Handysizes that a modern 24,000dwt open south east Asia has fixed an Australian round with redelivery in south east Asia in the mid 30s; confirmation is awaited. Otherwise, rates are still meandering along. -bmti.de November 28, 2007 09:44 AM Shortsea traders tell BMTI that chartering interests in the Baltic have had an easier time of it than last week, though we hear just as many owners crowing about their better-than-last spot deals such as a trip with 1,500t of minerals said to be fixed Hamburg to northern UK at over US$67/t. -bmti.de November 27, 2007 09:20 AM Falls are sharper than expected amid the eastern Handysizes with even owners murmuring about a freefall and those with inter-Pac business hoping the slide on modern Handymaxes will stop at the psychologically powerful US$60,000 daily. -bmti.de November 26, 2007 10:15 AM The Panamaxes show their strength and continuity even though they are still shedding numbers in both the Atlantic and Pacific markets. But the problem is the lack of volume as panellists struggle to find evidence to make realistic assessments for the end of the week. -bmti.de November 23, 2007 09:36 AM Nervousness in the physical market led bulker stocks to fall in an average 5-15% band over the week with TBS International [TBSI] taking a deeper cut at 30% down to US$32 per share. -bmti.de November 21, 2007 10:47 AM Western EU coaster trades are doing good business with tightness in avails nearly uniform from the Iberian Peninsula all the way to the British Isles. We have heard of one 3,000t mineral freight for US$45/t from WCUK to Rotterdam though a lower rate of US$35/t for France/ARA. -bmti.de November 20, 2007 12:17 PM The Far East Handy market is still producing some varied fixtures with a modern 46,000dwt ship fixing delivery north China for a trip via Indonesia with redel east coast India at US$61,000 daily and a modern 45,000 dwt, also dely north China, is doing a trip to east coast India at US$52,000 daily. -bmti.de November 19, 2007 02:24 PM The last week has been a good one for the Panamaxes in the Atlantic, which have relied heavily on the mineral trades and — despite statements from Brazilian shippers to the contrary — some splitting of stems has been achieved with reports of the 75,000dwt (2000) "Spartia" at US$90k/day. -bmti.de November 16, 2007 09:33 AM In the Atlantic, there is a lack of front haul enquiry but, in contrast to recent weeks, there seems to be a healthy enquiry for trans-Atlantic rounds in grain and mineral trades. -bmti.de November 15, 2007 08:46 AM The Atlantic market for Handies stays bright with news that a 1989-built, 29,000 dwt unit has been booked ex-Gibraltar for 2-4 mos trading with an operator at US$42,000/day while there are constant reports of big numbers paid on voyages. -bmti.de November 14, 2007 02:29 PM The combination of low Baltic-area coaster avails with high freight is causing an upward spiral as charterers are jumping for prompt tonnage. BMTI has heard of one 3,000t mineral cargo from ARA to Genoa fixed at the unprecedented rate of US$88/t. -bmti.de November 13, 2007 08:55 AM In the Atlantic, Cape rounds close in on the US$200,000 daily figure with voyage levels breaking through the US$50.00 mark. These numbers in all areas could not have been dreamed of only a couple of months ago, like the rumour that a Caper with dely 08/09 is booked for five years at around US$70,000 daily. -bmti.de November 12, 2007 08:48 AM Although new Supramax biz is slight, rumours abound: South Atlantic ships are on very tight avails, Black Sea can expect another few days of prompt scrap action and NoPac is gearing up for a raft of quick mineral orders, i.e. now is the quiet before the storm. -bmti.de November 08, 2007 10:29 AM The Atlantic basin is the Panamax saviour with the Pacific still floundering but getting a grip as a rush of spot grain from South America (as BMTI predicted) suddenly takes up any slack capacity in available tonnage. Short period (4-6 mos) climbs back above the line of mid-US$90,000s daily. -bmti.de November 07, 2007 11:13 AM There is a burst in shortsea fertiliser requirements from ARA to redel points all along the western European coastline on upwards of 20 orders recorded in the last week alone. These include a cargo of 3,000t from Rotterdam to southern France at a strong rate of US$ 37/t. -bmti.de November 06, 2007 10:15 AM In the Pacific the lack of activity over the last few trading days has successfully halted the upward march in Handymax and Handysize level, in fact, it could be argued, in the Handy sector, that they have slipped off their peak. -bmti.de November 01, 2007 10:20 AM Handy bulk is the only area to hold firm on the rate front with the BSI and BHSI taking just minor 7 and 20-point losses. Paper is more jittery but, apart from a calming of inquiry, nothing suggests a drop-off. -bmti.de October 31, 2007 11:58 AM The biggest culprit in the Cape correction seems to be simply a lack of activity combined with a market climbing to unrealistic heights -- ripe for a fall. Even with the sharp drop in the index, there is nothing approaching panic with many players happy to see a downgrade before things get out of hand. -bmti.de October 30, 2007 11:27 AM Hard landing for dry bulk rates -- At a poll held at the Coaltrans 2007, which recently took place in Rome, nearly 60% of the participants expressed the expectation that shipping rates will see a hard landing; some 30% said they expect the market to come down albeit "softly". At the same time, 55% of the delegates feels that the dry bulk shipping market has not reached its peak yet. -bmti.de October 30, 2007 11:26 AM Russia's coking coal market might grow to 100m tonnes within the next three years which means a plus of more than 40% to today's market. -bmti.de October 24, 2007 08:14 AM Steels, minerals and ferrous scrap cargoes are in high demand on shortsea delivery from the upper Baltic to redelivery ARA region, North Sea and elsewhere or even further to the western Med with several reports of the larger 4-6,000t freights now fixed at US$ 58/t or higher. -bmti.de October 22, 2007 08:41 AM India outbound in the week sees some activity from the west coast with three modern Supermaxes fixing trips to China in the very high 60s range. We have, however, seen nothing in the way of trips from east coast India to China or anything reported coming inbound from China, which is unusual. -bmti.de October 19, 2007 07:24 AM Most Nasdaq bulker shares gain a resounding 9-13% over the week as financial analysts upgrade or maintain their 'buy' advice for nearly all of the ten-some listed firms. Top honours, though, go to TBS International Ltd. [TBSI] with a 33% climb since Monday to hit US$69 before the weekend. -bmti.de October 18, 2007 11:44 AM There is no stopping the Far East Handysizes with reports of a modern 27,000dwt vessel open SE fixing a trip via West Australia with redel Taiwan at US$48,500 daily. Period interest in this size appears to be increasing and we hear there are many close talks in progress for improved rates. -bmti.de October 17, 2007 12:57 PM Panamax sentiment remains high in the Atlantic with reports of a 1998-built, 73,000dwt vessel open on the Continent early November that has been fixed to the Far East via Brazil with Noble at a strong US$89,000 daily. The Pacific basin also reflects the Atlantic with rates on some early tonnage. -bmti.de October 16, 2007 11:17 AM To contain domestic markets, Russia has approved a 10% wheat export duty, effective mid-November. Meanwhile, as global stocks slim, Turkey has opened a tender for 330,000t of wheat. -bmti.de October 15, 2007 10:56 AM Period rates on Pacific Supramaxes take line honours with a plethora of fixtures for periods up to three years. A modern 52,000dwt is booked for 12 months with delivery Far East end-October/early-November at US$62,500 daily and a modern 43,000dwt open EC India covers 12 months in the low 50,000s. -bmti.de October 12, 2007 11:00 AM There is little doubt about Supramax strength in the US Gulf on talk of the 2007-built, 56,000dwt "African Blue Crane" being fixed and failing from the USG to Far East at US$95,000 initially then refixed at US$101,000 and failing and, finally, the latest that she has refixed again at US$106,000 daily. -bmti.de October 11, 2007 03:02 PM France is adding quite a bit of grain to the flow of European short sea orders, and adding more pressure on the tonnage from Iberia. Salt from Lisbon to Oslo has been quoted at US$28/t while scrap from lower Baltic to Bilbao is achieving US$55/t for the larger 3-4,000t ferrous consignments. -bmti.de October 10, 2007 09:23 AM The Atlantic Panamaxes are looking extremely tight with short period set to push ever closer to the US$90,000 daily level. However, there is not much spot activity to be seen, though with all the shenanigans going on with the Capes some stem-splitting would not come as a complete surprise. -bmti.de October 09, 2007 12:29 PM As the Far East week begins [brokers] have been able to pick up some further period fixtures that reinforce the firm trend. A modern 53,000dwt ship open Aden-Japan 1-15 December 2007 is booked for 12 months at US$59,000 daily. -bmti.de October 08, 2007 02:21 PM Among the Panamaxes the Atlantic markets are the ones that are struggling and, despite the clear out of early tonnage, there are still enough ballasters on the seas to suggest a weakening. But with the end of the Far Eastern holidays sentiment is likely to take the high point and there is plenty of confidence for the coming week. -bmti.de October 03, 2007 09:26 AM Despite the onset of the Golden Week, Pacific period biz remains taut and there seems to be a fresh influx of Indian ore trips to China ready to go with one 52,000dwt ship said to go on India/China trading for two years at the handsome hire of US$50,000 daily. Next week will surely bring more. -bmti.de October 02, 2007 08:54 AM The big news in the Far East is that the 2001-built, 53,000dwt Lalis open Taiwan has been taken for back haul via South East Asia to the Atlantic at US$64,000 daily. The cargo is said to be oilcake but, even allowing for the difficult characteristics of this particular commodity, the rate level is very impressive. -bmti.de October 01, 2007 02:41 PM These are truly heady times. The Capesize front haul level has yet to be established but currently it could be anywhere between just over US$200,000 and US$230,000 daily. If the US$80.00/t level for Tubarao/China is not yet threatened by Pacific tonnage, a few committed ballasters could emerge. -bmti.de September 26, 2007 09:11 AM There are more rumours than actual sales making the S+P rounds. Among them are that of a 1984-built, 38,000 dwt bulker sold for US$24m — which S&P agents tell BMTI is nearly double what the ship sold for two years ago — and a 25,000 dwt bulk carrier built in 1983 being purchased by Korean buyers for a very strong price of US$12m. -bmti.de September 25, 2007 10:19 AM Chartering brokers tell BMTI that small size consignments, especially grain, are riding high via Black Sea with a number of 5,000-tonners fixed on dely Black Sea and redel French Bay at the time charter level of US$7,500 daily. Meanwhile, a pair of 2,000t cargoes are going for spot at about US$ 3,300 daily ex-Black Sea on redel western Mediterranean. -bmti.de September 24, 2007 08:47 AM Blasting the BCI upwards by 7% with 780 points is the one-two punch of an already strong Pacific, thanks to seemingly bottomless appetites for Chinese minerals redelivery from South America or Australia, and the return to arms in the western basin with charterers like 'K' Line and Corus taking in trans-Atlantic rounds for USD 150-160,000 daily. -bmti.de September 21, 2007 12:01 PM Breaking news and record-breaking period rates from India: a 52,000 dwt vessel — believed to be the "D Duckling" (2001) described with 4/30 cranes, 4/12 grabs and 14 on 32 ndas — is fixed for 3 years at an unprecedented US$ 47,000 daily. -bmti.de September 19, 2007 09:50 AM Calm has descended upon the Handy bulk sectors but there is no sign of the Atlantic softening as the USG still offers the higher than dollar-per-dwt fixtures to the Far East, illustrated by the 2005-built 53,459 dwt vessel 'Santa Rita' fixed at US$ 55,000 daily. -bmti.de September 18, 2007 09:43 AM There is no question, as BMTI sources confirm, that the FE Panamaxes are as strong as ever with Pac rounds standing still but — not surprisingly — trips back advance to levels close to that of the Atlantic round voyages. Quick rounds in the area still command levels near US$80,000 daily while the longer round voyages push the US$75,000 daily mark. -bmti.de September 17, 2007 10:40 AM The short cut through the Arctic Circle, the Northwest Passage which would dramatically reduce transit times from Europe to the North Pacific, has appeared much faster than expected, according to satellite images from the European Space Agency. The ESA data show extreme thawing in ice at the Canadian section, where the passage is now 'fully navigable'. -bmti.de September 14, 2007 08:33 AM Most interesting among the Pacific Handmaxes are signs of a return to spot fixing. We have heard of a modern 28,000 dwt vessel getting booked with an inter-Pacific trip, redel Singapore, at US$39,000 daily, to name one bullish example. -bmti.de September 13, 2007 12:12 PM Indian spot iron ore prices (63.5% Fe) on Chinese redelivery continue to rise, currently at US$112/t FOB and US$150/t CIF, gaining a full US$8/t last week on the combined uptick in ore and freight fees. Problems with Goa loaders are also to blame. -bmti.de September 12, 2007 11:13 AM Modern Handymaxes are still hitting the sales block: owners of a 2000-built, 52,000 dwt vessel are said to be pursuing US$68m, but this is probably a bit too ambitious, even in today's market, considering that similar vessels have been sold in recent weeks for several million less. -bmti.de September 11, 2007 01:30 PM Cape rates are feisty: rumours swirl in the Pacific of US$135,000 daily being paid on a West Australian round but details are sketchy. It is the same scenario in the Atlantic where Brazil/China is thought to be concluded at US$73.00/t. -bmti.de September 10, 2007 08:09 AM Period is the word in the Supramax arena, especially east of Suez where 12 months employment values vary between US$55,000 and close to US$60,000 daily. But probably the best deal struck is that of the 2002-built, 52,383 dwt Yassa H Mulla fixing ex-China for 5-6 mos at an impressive US$63,000 daily. -bmti.de September 07, 2007 09:39 AM It is becoming more and more difficult to make rational comments regarding the shipping markets as across the board the irresistible momentum takes us into uncharted waters and untried strategies. For example, the Capers see a 169-point increase in the BCI to 11,223 and the T/C average rise up US$ 1,793 to US$ 133,116 daily. -bmti.de September 06, 2007 11:07 AM Steelmakers in China seem to have gotten over their frustration at India's export fees: prices for 63.5% Fe iron ore jump by a sharp US$6-7/t this week (as last week) to reach US$105/t FOB on redel to China ports, lifting the CIF price to US$140-142/t. -bmti.de September 05, 2007 08:48 AM In France (one of the few EU producers with healthy grain supplies) cash wheat deliveries to the port of Rouen have been rising EUR 5/t by the day, now above EUR 262/t for December delivery. Russia is considering a ban on wheat exports, which would put even more pressure on EU supplies. -bmti.de September 04, 2007 08:55 AM Handysize rates in the Plate and the US Gulf are strong enough but the more forward positions tend to look even stronger with charterers prepared to pay up on positions three or four weeks out in some cases. -bmti.de September 03, 2007 09:42 AM Panamax period still outpaces spot, BMTI market sources confirm from east to west, but there is more activity in the latter with an early newbuild 76,000 dwt vessel booked for a shakedown cruise at US$60,000 daily on a Pac round. -bmti.de August 31, 2007 12:41 PM There are a few reports about 24,000 dwt range modern vessels being approached for North Pacific redeliveries from China at just under the US$ 26,000 daily line. There are also plenty of 28,000-tonners snapped up for NoPac rounds to Australia in the low US$ 30,000s daily and no dampening signs in rates. -bmti.de August 30, 2007 09:37 AM Even though rates within the Atlantic do seem to be somewhat weak right now, it looks as if levels will rise again once the few ships left open are fixed away. According to broker friends of BMTI who are busy counting open ships, there is nothing as yet left over from mid-September or indicated to be open. -bmti.de August 29, 2007 08:55 AM France is still doing a strong trade in shortsea spot trips to the Iberian Peninsula and UK cereals boast steady export orders with canola and feed moving southward on two-day trips at US$16/t or higher. Inter-Continental rates are solid if unmoved, though on the upside, overall available prompt tonnage is shrinking, charterers tell BMTI. -bmti.de August 28, 2007 12:51 PM The Handysizes remain in short supply after the weekend and another firm week is expected for them. There are rumours that a modern 28,000 dwt is being bid US$ 34,000 daily for 3-5 months basis delivery north Asia, rate records are no sooner set than they are being broken again. -bmti.de August 22, 2007 04:18 PM Panamax period is still a feature but it is doubtful if we will again see rates of US$ 60,000 daily for 12 months just yet. Still, the principle of confidence in the future markets is well ingrained. -bmti.de August 21, 2007 08:22 AM North Baltic sources say that Nordic short sea charterers are just now concluding their holidays (Denmark starting this week, Sweden next) and that the return of principals and contract negotiators to the Scandinavian markets holds the potential to add a mini-burst of demand by early next week. -bmti.de August 20, 2007 09:42 AM There are no FE trips back to the Atlantic reported in the week for Handy bulk, though charterers involved in such trades indicate that back haul rates have dropped in line with the increased Atlantic returns. In fact, such is Atlantic demand that tonnage open WC India is being approached to cover ECSA cargoes. -bmti.de August 16, 2007 11:01 AM Period is still the order of the day for Panamaxes as shown by the 1996-built, 72,200 dwt Vogevoyager booked for two years trading at US$47,000 daily, albeit with worldwide delivery in January 2008, while Swiss Marine takes the 2006-built, 74,500 dwt Cap Bona open Japan in mid-August for six months trading at US$60,000 daily. -bmti.de August 14, 2007 01:22 PM As the exceptions to the sluggish European shortsea trades, steel and scrap freights are only slightly down into to the high US$40s/t, but business remains mostly firm via Black Sea and grains are moving from France up to the North Sea at rates exceeding US$22/t on medium coaster cargoes circa 3,000t. -bmti.de August 13, 2007 08:33 AM Handysizes gain by a mild 2.5% on the BHSI over the week while Supramaxes keep on the level. The small sizes start this week on a fairly even keel. Pacific markets are finely balanced on quieter demand but tighter tonnage. Atlantic rates are on the upturn. -bmti.de August 10, 2007 12:42 PM Rate trends are predominantly balanced with the Baltic Dry Index now back below the 7,000 line it surpassed last Friday, albeit still up by over 100% in the year to date. Capesizes are getting back into the flow with a +1% BCI today flipping the -1% seen in yesterday's report. -bmti.de August 08, 2007 12:38 PM The Far East Handysizes are perking up again on rumours of modern 28,000 dwt vessels being offered rates close to US$32,000 daily for round voyages and even short period charters. Tonnage is still being chased for longer periods but so far neither side can agree on the appropriate rate. -bmti.de August 07, 2007 07:43 AM One remarkable thing, say Supramax brokers, is that the spot rates paid for trips are, in general, even less than what most owners get for medium periods (3-5, 4-6 months), a phenomenon that even the experts cannot readily explain. -bmti.de August 03, 2007 09:22 AM Black Sea coasters are firm-to-higher ratewise with owners not seeking cargoes as urgently as some charterers had expected. Owners that do make offers, especially for niche cargoes requiring special tonnage, are frequently asking quote/unquote too high or can only offer earliest at mid-month, say chars. -bmti.de August 02, 2007 10:07 AM Congestion via Australia's coal terminals is easing quicker than was previously anticipated, sources tell BMTI, perhaps explaining the mild Panamax market at the moment with charterers so far able to call the bluff of their operator partners as Pacific orders are also slower to arrive than many brokers were forecasting two days ago. -bmti.de August 01, 2007 02:32 PM Supramax trends are moving sideways in the Pacific and the Atlantic but period still shows the way ahead as low-US$40s rule for the year-long periods and mid-US$ 40s for shorter. -bmti.de July 31, 2007 08:50 AM Almost without exception trends are on the upward slope with the Far East Handymaxes looking very firm and getting firmer; Pacific rounds are flirting at or above dollar-per-dwt rates and brokers expect to see more small-size deals being done this week like the US$27,500 daily given to the 2004-built, 28,000-tonner Ocean Lotus. -bmti.de July 30, 2007 11:28 AM Period business is reinvigorating the Panamaxes with prevailing rates up by nearly US$4,000 from a week ago as charterers see the writing on the wall and a market that refuses to soften with the summer. The 2001-built Dimitris L, wresting US$62,000 daily from Navios for 5-7 months, would have likely been happy with a mid-50s rate only last week. -bmti.de July 27, 2007 12:20 PM One of the few bulker stocks to weather the week on a positive gradient was Eagle Bulk Shipping with a 2% rise since Monday (hovering at US$ 26 on Thursday), which almost seems inconsiderate in context of the company's attention-getting news at the start of the week that it will more than double its fleet capacity with 26 Supramaxes. -bmti.de July 26, 2007 01:34 PM Regional and quieter though it may be for the Pacific Handies, short period offers are regardless rising on the rush westward (where the really good business is) and taking any open ships off the market. Firmness prevails in both basins and Atlantic rounds are absorbing even early 80s-built Handies. -bmti.de July 25, 2007 10:04 AM In the Atlantic there is more secrecy involved in Capesize bookings but it seems that Pacific round voyages via Brazil are commanding at least US$ 52.50 on tonnage, which is almost one month into their ballast. -bmti.de July 24, 2007 09:04 AM The very limited Ukraine grain supply, due to sustained drought, is expected to put a premium on Black Sea and Mediterranean grain demand in the near future. Brokers are advising operators to keep a ship or two open for a flash of demand in the region. Ukraine will remove a ban on grain exports in October at the earliest. -bmti.de July 23, 2007 09:27 AM There are tiny signs of tonnage avails in the Pacific getting tighter as more vessels ballast to the better fortunes in the western basin, although with still up to 25 vessels remaining open in the Far East. In contrast, Atlantic avails are now exceedingly rare via ECSA and UKC, with the latter prompting spot business up to US$ 70,000 daily. -bmti.de July 20, 2007 08:52 AM Stocks of iron ore at China's top 23 ports hit 44Mt last week, a 2.3% jump from the previous week. India is currently charging around US$116/t for Fe 63.5% iron ore, some US$10/t higher than the CIF Brazil price and about US$35/t up from the Australian average export price. -bmti.de July 19, 2007 12:44 PM In European shortsea negotiations, brokers report a growing preference shift toward euro-priced cargoes if/when possible, against dollar-priced ones, which are now listing at 5% or even lower than their euro equivalents -- a difference mentioned more frequently as the EUR strengthens to the USD. -bmti.de July 18, 2007 10:42 AM Handy bulk is breaking new barriers by the day with the US$ 31,000 daily plus US$ 600,000 bb paid to the 2003-built, 27,112 dwt "Alpina" for a Plate to Casablanca run with Bunge said to equate to US$ 45,000 daily from UpRiver. -bmti.de July 17, 2007 10:39 AM On the Supramax period front, a modern 56,000 dwt unit is reported to have been covered for period for two years with delivery worldwide for Q3 at about US$38,000 daily. The UKC remains strong with word of a 35,000 dwt modern on ex-Dublin for a South American grain round at US$32,000 daily. -bmti.de July 13, 2007 10:47 AM About 50 ships have been blacklisted at both Newcastle coal terminals of Kooragang and Carrington for having deballasting rates of less than 4,000 tph. The Kooragang coal terminal has a minimum shiploading capacity of 8,000 tph. -bmti.de July 12, 2007 02:27 PM World steel prices dropped on average by 1.2% last month due mainly to a rush onto the world market of Chinese steel as exporters engaged in urgent activity to make shipments before the cancelling of a tax rebate on several steel products at the beginning of July. -bmti.de July 11, 2007 02:30 PM Rumours abound that a 46,000 dwt vessel open EC Mexico but earmarked for its own business has been bid US$65,000 daily basis dop for a trip to Italy while a 45,000 dwt (1985) is reported fixed for 6-8 mos trading at US$40,750 daily. -bmti.de July 10, 2007 12:37 PM General spot demand for shortsea grain has been on the upturn via Black Sea as well as inquiries for several other agri-prods. Fertilisers are in trans-Baltic motion with at least one report of a US$16/t contract on UAN via Sea of Azov. -bmti.de July 09, 2007 10:46 AM Cape rates continue to ease off their historically heretofore unseen highs, seeming even now, several days in, more like a correction than any thing like a crash—although some despondent owners would beg to differ. Voyage rates and Atlantic routes look solid, despite the quiet, but there is a bit of undeniable downward pressure on Pacific rates. -bmti.de July 06, 2007 02:10 PM Healthy Panamax period interest supports a busy spot market with shortest durations at US$ 58,000 daily plus and longer (6-8 months) doing just under US$ 55,000 daily. While rate growth is still slow, it is trending up and brokers are split on whether inertia will build to inspire a full bull run. -bmti.de July 05, 2007 10:15 AM UKC Shortsea: With no real dead spots on European routes, as a 'normal' lull would show, Baltic and Med traders expect a correction while allowing for a surprise uptrend. For the time being at least, owners remain firmly in the driver’s seat. -bmti.de July 04, 2007 10:36 AM There is still a paucity of Capesize tonnage in the Atlantic and, with few ships in ballast from the Pacific, front haul is holding up well at just under US$130,000 while in the Pacific over US$90,000 daily is on offer for Pacific rounds, which probabably accounts for the lack of ballasters. -bmti.de July 03, 2007 01:09 PM Fertilizers, including phosphates and potash, are facing mostly higher order demand from charterers in recent days: buyers in Pakistan, for example have purchased two DAP cargoes at US$495/t CFR each, up by US$10-15/t on spot rates from only two weeks ago. -bmti.de July 02, 2007 10:15 AM Several longer period fixtures are being reported from the Far East: a modern 53,000 dwt ship open Singapore-Japan range is fixed for 10/12 months time charter at US$ 40,500 daily and a modern vessel of 52,000 dwt open north China covers a period of 11/13 months at the rate of US$ 39,500 daily. -bmti.de June 28, 2007 08:59 AM Tonnage supply for Panamaxes in the Atlantic remains tight with some big numbers on offer. A shorter duration run to the Far East has commanded a US$ 60,000 daily rate on the 2004-built, 74,195 dwt "Torm Anholt" open Rotterdam for the trip via the Baltic. <a href="http://www.bmti.de/">-bmti</a> June 27, 2007 10:19 AM The trans-Atlantic spot market is holding close to the dollar-per-dwt line with a trip from South Africa to USEC at US$ 25,000 daily for a modern 26,000-tonner. Western basin brokers are also hinting that west African delivery on redel to the US and UKC will be key for the rest of the week. June 26, 2007 02:00 PM Shortsea delivery from ports in France, as the only European country now exporting significant volumes of grain due to widespread drought conditions elsewhere, is fairly busy and seeing rates approach US$ 19/t for coasters on destinations eastward (Med) or northward to the ARA or North Sea. -bmti.de June 25, 2007 11:57 AM Panamaxes with grain -- and now more frequently, mineral enquiries -- are more than able to cope with the spot tonnage but it does seem that these volumes will not be falling in the near future and July is already looking good from an owner’s point of view. Trips out should soon be above US$ 55,000 daily while rounds, not too obvious of late, are only US$ 1,5-2,000 daily behind. -bmti.de June 22, 2007 02:51 PM In the Atlantic, Capesize front haul is reported to have been done at US$110,000 daily and more is expected while US$95,000 daily has been agreed to on a 170,000 dwt unit passing Passero for a trans-Atlantic round via Brazil. But this level is set to be overtaken by about US$100,000 on rounds before long. -bmti.de June 21, 2007 09:28 AM Panamax round voyages are in demand and some consistent numbers are being paid like the 1994-built, 72,873 dwt "Luise Oldendorff" taken with delivery La Spezia for a round via Paranagua and capturing a hire of US$ 48,250 daily. In the Far East short period levels are easing upward. June 20, 2007 11:27 AM There is talk that Noble has booked the 1996-built, 174,000 dwt "Zourbas" retro China 9/11 June for a trip via Brazil back to the Far East at a rate of about US$61,500 daily but there is also conjecture that the charterers are looking at a ship in the Atlantic to perform similar business on voyage. -bmti.de June 19, 2007 12:12 PM From the Continent, scrap is on the move with news that a 47,000 dwt unit has been paid around US$38,000 daily by Custodian for the trip from Ghent to Turkey with scrap, which is probably US$1,500 below what could have been expected a week ago |
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