Baltic Exchange Dry Index 2975 DOWN 10
BCI Baltic Exchange Capesize Index 4788 DOWN 56
BPI Baltic Exchange Panamax Index 2955 UP 3
BSI Baltic Exchange Supramax Index 1834 UP 17
BHSI Baltic Exchange Handysize Index 800 UP 6
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13/7 2009 16:25 fcras 0
15177 Slowing down
The week started off very quiet in the dry-bulk sector and capesizes continue to go home empty-handed.
But rates could be in for a boost soon with Dahlman Rose analyst Omar Nokta writing in a transport note on Monday: "With steel prices firming accelerating, the dry bulk market could resume normal levels of activity this week after a slowdown in Australia last week."
Rates have been stiffening in the panamax market of late but, apart from a couple of exceptions, they are now softening and the index drive coming to a standstill.
There is, however, a slight bolstering of period rates in the both the panamax and supramax markets.
Panamaxes
Dreyfus has spent $32,500 a day to run the 75,300-dwt Nordmosel (built 2001) on an Atlantic roundtrip picking up cargo in Colombia.
A run from the Persian Gulf to South America and back to the Far East set one unidentified charterer back $26,000 daily with the 70,500-dwt Renuar (built 1993).
Rates were slacker out east as China Steel Express only had to find $19,000 per day for the 77,100-dwt Christina (built 2007) to leave China for Australia and back to Taiwan.
And Toepfer paid $1,000 a day less for an Asian itinerary with the 69,300-dwt Aristides N P (built 1993).
Farenco did pay a nice $20,000 daily for between four and six months with Cosco’s 74,100-dwt COS Intrepid (built 2001).
The same period set one charterer back $18,000 a day with the 69,700-dwt Shi Dai 3 (built 1994).
Supramaxes
A Chinese player has a 57,000-dwt newbuilding for a year out of a Chinese yard next month at $17,000.
Someone is paying close to $20,000 per day for between two and four months with the 52,400-dwt Crown Princess (built 2005).
The voyage market is slowing down, however, but $22,250 a day is decent for a run from India to China with the 56,100-dwt Darya Bhakti (built 2005).
And the 55,700-dwt Lake Dynasty (built 2009) scored $17,000 daily for a trip from Japan to Australia and back to South Korea.
By Eoin O'Cinneide in London
Published: 12:35 GMT, 13 jul 2009 | last updated: 12:41 GMT, 13 jul 2009
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13/7 2009 16:36 fcras 015178 Sunday, 12 July 2009 20:07
Two European shipowners have pushed back delivery of a total of eight bulkers at two Chinese shipyards by around half a year.
Cosco Dalian and Cosco Zhoushan are the two shipbuilders concerned, parent company Cosco Corp (Singapore) wrote in a statement on Friday.
A sextet of 92,500-dwt units on order at Cosco Zhoushan as well as two 79,500-dwt bulkers at Cosco Dalian are now to be delivered later than originally scheduled.
Cosco said the decision to push back delivery was reached "following separate requests from two European shipowners" which it did not name.
The Clarkson newbuilding database lists only two 79,500-dwt bulkers on order at Cosco Dalian, both ordered by Vanship Holdings in April 2008.
Clarkson's database does not list any 92,500-dwt ships on order at Cosco Zhoushan but there are eight such vessels listed as being built at Cosco Dalian.
Vroon BV has six 92,500-dwt bulkers on order at Cosco Dalian. The Dutch owner ordered two in October 2007 and was said to have firmed up four optional contracts in early 2008. The ships are said to have cost Vroon $57m a piece.
All eight bulkers mentioned in Friday's announcement were due for delivery between September 2010 and August 2011. Delivery is now pushed back to between January 2011 and May 2012.
Cosco Corp said the rescheduling, "acceded to upon the requests of and after negotiations with the respective shipowners", will not have a material impact on the net tangible assets or earnings-per-share of the company for this year.
http://www.vinamaso.net/news-events/shipbuilding-repair/cosco-yards-delay-delivery-of-bulkers.html
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