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Interocean Dry Cargo Market Report, 7th March 2017
1. DRY CARGO MARKET REPORT
7th March 2017
DISCLAIMER:
Although reasonable care has been taken in preparing the information contained in this document, the information is
provided on the basis of data available to Interocean at the time of compilation only. Interocean does not and cannot
provide any warranty, guarantee or promise express or implied concerning the content, completeness, accuracy,
currency or otherwise of any information provided.
Unless otherwise agreed expressly in writing by Interocean, this communication is to be treated as confidential and
privileged, belonging to Interocean only, and the information in it may not be used or disclosed, copied, distributed or
disseminated to any third party except for the purpose for which it has been sent.
If you are not the intended recipient of this communication, you must delete the message and notify the sender
immediately. Interocean and its affiliates accept no liability whatsoever for any use of this information or any action
taken based on or arising from the material contained herein.
SOURCE: Baltic Exchange and Others
2. CAPE
'Wan May' 2012 176460 dwt dely CJK 08/09 Mar trip via west Australia redel Singapore-Japan
$14,000 daily - Hyundai Glovis
'Leadership' 2001 171199 dwt dely Sudeste end Mar trip redel Singapore-Japan $12,250 daily +
$990,000 bb - Trafigura
'Aquabeauty' CCL relet 2003 171009 dwt dely Eregli 12/15 Mar trip via Black Sea redel Singapore-
Japan $21,500 daily - Phaethon - <fixed 3 March>
POST PANAMAX
'Ocean Treasure' 2010 92667 dwt dely Lanshan 20/22 Mar 2 laden legs redel Singapore-Japan
$10,000 daily - cnr
'Aris T' 2007 92526 dwt dely Recalada 20/30 Mar trip via PG redel PMO $12,000 daily + $600,000 bb
- cnr
KAMSARMAX
'Nikolas XL' 2006 82379 dwt dely Singapore 09/12 Mar trip via EC South America redel Singapore-
Japan $12,000 daily - cnr
'Nicole' 2013 81120 dwt dely Kawasaki 7 Mar trip via EC Australia redel Philippines $12,250 daily -
Klaveness
PANAMAX
'Iolcos Fighter' 2014 76102 dwt dely Abu Dhabi 08/13 Mar trip via EC South America redel
Singapore-Japan $11,000 daily - cnr
'Hephaestus' 2001 74350 dwt dely Hong Kong 10/12 Mar trip via EC Australia redel Singapore-Japan
$10,500 daily - cnr
'Levanto ' 2001 73931 dwt dely Fuzhou 09/10 Mar trip via EC South America redel Singapore-Japan
$10,000 daily - cnr
'Spar Indus' 2016 63800 dwt dely Machong prompt trip via Indonesia redel China intention CJK
$9,500 daily - cnr
'Spring Cosmos' 2014 63273 dwt dely aps Santos early April trip redel PG/Japan $13,500 daily +
$350,000 bb - cnr
'Kmarin Melbourne' 2015 63253 dwt dely Hong Kong prompt trip via Australia redel Indonesia
intention coal $10,250 daily - Tongli
SUPRAMAX
'Global Genesis' 2010 57696 dwt dely Mumbai prompt trip via Goa redel China $7,000 daily - Platina
Bulk Carriers
'Bravo V ' 2010 57017 dwt dely Kosichang 10/13 Mar trip redel CJK intention tapioca chips $10,000
daily - Spring Shipping
3. 'Antigoni B' 2011 56930 dwt dely New Mangalore prompt trip via South Africa redel China $9,000
daily - cnr - <corrects rate on report of 6/3>
PERIOD
'Philadelphia' 2012 206040 dwt dely Qingdao 11/19 Mar 11/13 months trading redel worldwide
$15,600 daily - Koch Shipping
'Great Zhou' 2010 180335 dwt dely China 15/30 Mar 11/13 months trading redel worldwide $14,000
daily - Koch Shipping
'Polymnia' 2012 98704 dwt dely Taiwan in d/c 15/17 Mar 13/16 months trading redel worldwide
$10,100 daily - Cargill - <reported fixed 28/2 >
'Okinawa' 2009 81397 dwt dely Caofeidian 05/07 Mar 4/7 months trading redel worldwide $9,000
daily - BDH Quadro Marine Limited
'Graecia Nautica ' 2014 81001 dwt dely Visakhapatnam prompt 7/9 months trading redel worldwide
$11,500 daily - Cofco Agri - <adds charterer's name to report of 6/3>
'Glyfada 1' 2009 75639 dwt dely Shanghai 08/13 Mar 4/8 months trading redel worldwide $9,500
daily - Ausca Shipping
'SBI Orion' 2015 63328 dwt dely Mumbai 12 Mar 6/8 months trading redel worldwide $10,300 daily -
BG Shipping
'Sunny Horizon' 2012 56686 dwt dely China prompt 5/7 months trading redel worldwide $8,250 daily
- AMC
'Fadelsia' 2011 35896 dwt dely Paranagua 17 Mar 4/6 months trading redel Atlantic $9,000 daily -
AEC
VOYAGES
ORE
'Cargill TBN' 170000/10 Dampier/Qingdao 20/22 Mar $6.45 fio scale/30000shinc - Rio Tinto
'K-Line TBN' 170000/10 Dampier or Cape Lambert/Dangjin 27 Mar/02 Apr $5.63 fio
90000shinc/60000shinc - Hyundai Glovis
'TBN' 170000/10 W Australia/Qingdao 16/20 Mar $6.90 fio max $299,000 d/as scale/30000shinc -
Classic Maritime
'Kinokawa Maru' 2013 170000/10 Saldanha Bay/Qingdao 10/15 Mar $10.10 fio scale/30000shinc -
Anglo American
'Pacific Spirit' Mingwah relet 2011 170000/10 W Australia/Qingdao 12/12 Mar $6.25 fio
scale/30000shinc - Cargill - <fixed 3 Mar>
'Cape Leonidas' EdF relet 2010 150000/10 Narvik/Ijmuiden & Port Talbot 10/15 Mar $4.40 fio 7 days
shinc – Cargill
'Navios Bonavis' 2009 170000/10 Saldanha Bay/Qingdao 14/17 Mar $10.25 fio scale/30000shinc -
Anglo American
'KWK Providence' 2004 170000/10 Port Hedland/Qingdao 20/22 Mar approx $6.30 fio
scale/30000shinc - Cargill
5. Baltic Exchange Capesize Index
Weighted Time Charter Average (C8_14, C9_14, C10-14, C_14 & C_16), $11866, +$1427
C17 Saldanha Bay to Qingdao 170000 7.645 +0.372
Baltic Exchange Capesize Index (172000)
ROUTE NO DESCRIPTION SIZE(MT) VALUE ($) CHANGE
BCI 4TC 4TC AVERAGE 172000 $10802 +$1427
ROUTE
NO
DESCRIPTION SIZE(MT) VALUE ($) CHANGE
C2 Tubarao -Rotterdam 160000 6.340 +0.360
C3 Tubarao - Qingdao 160000 or 170000 14.058 +1.422
C4 Richards Bay to Rotterdam 150000 6.073 +0.387
C5 W Australia - Qingdao 160000 or 170000 6.493 +0.022
C7 Bolivar - Rotterdam 150000 6.636 +0.404
C15 Richard Bay to Fangcheng 160000 9.318 +1.091
C8_14 Gibraltar/Hamburg trans-Atlantic RV 180000 10659 +1250
C9_14 Continent/Mediterranean trip Far
East
180000 21479 +2396
C10_14 China-Japan transpacific RV 180000 13335 +1070
C14 China-Brazil RV 180000 11904 +1675
C16 Revised Backhaul 180000 1654 +1029
6. Baltic Exchange Panamax Index
ROUTE
NO
DESCRIPTION SIZE(MT) VALUE ($) CHANGE
P1A_03 Transatlantic RV 74000 9698 +453
P2A_03 SKAW-GIB/FAR EAST 74000 14933 +360
P3A_03 Japan-SK/Pacific/RV 74000 9989 +293
P4 _03 Japan-SK trip to shaw Passero 74000 3748 +178
Weighted Time Charter Average (P1A_03, P2A_03, P3A_03 & P4_0), $9592 +$321
Baltic Exchange Panamax - Asia (BEP Asia)
ROUTE NO DESCRIPTION SIZE(MT) VALUE ($) CHANGE
P3A-IV Newcas tale to Qingdao – implied voyage 74000 11.31 +0.12
ROUTE NO DESCRIPTION SIZE(MT) VALUE ($) CHANGE
P5 South China, one Indonesian round voyage 74000 9400 +211
7. Baltic Exchange Supramax Tess 58 Index
ROUTE NO DESCRIPTION SIZE(MT) VALUE ($) CHANGE
S1B_58 Canakkale trip via Med or Bl Sea to China S.Korea 58328 13634 +84
S1C_58 US Gulf trip to China-s outh Japan 58328 20811 +33
S2_58 N.China one Australian or Pacific round voyage 58328 8736 +229
S3_58 North China trip to Wes t Africa 58328 4510 +80
S4A_58 US Gulf trip to Skaw-Pas s ero 58328 17372 -44
S4B_58 Skaw-Pas s ero trip to US Gulf 58328 5809 +3
S5_58 W. Africa trip via east coast S.America to N.China 58328 11179 +133
S8_58 South China trip via Indones ia to ECI 58328 9581 +131
S9_58 W. Africa trip via ECSA to Skaw-Pass ero 58328 7329 +111
S10-58 S. China trip via Indonesia to S. China 58328 9275 +133
Weighted time charter average (all 10-time charter routes), $9503, +$109
Baltic Exchange Supramax - Asia Tess 58 (BES Asia Tess 58)
ROUTE NO DESCRIPTION SIZE(MT) VALUE ($) CHANGE
S8_58 S. China trip via Indones ia to ECI 58328 9581 +131
S10_58 S. China trip via Indonesia to south China 58328 9275 +133
S11_58 Mid China, Australian or trans pacific round voyage 58328 8819 +131
Weighted time charter average (all 3 routes), $9225, +$132
8. Baltic Exchange Supramax Index
ROUTE NO DESCRIPTION SIZE(MT) VALUE ($) CHANGE
S1A Antwerp - Skaw Trip Far East 52454 13150 +87
S1B Canakkale Trip Far East 52454 12996 +100
S2 Japan - SK / NOPAC or Australia rv 52454 7967 +217
S3 Japan - SK Trip Gib - Skaw range 52454 4070 +80
S4A US Gulf - Skaw-Passero 52454 16513 -37
S4B Skaw-Passero - US Gulf 52454 5254 +4
S5 W.Africa trip via ECSA to Singapore-Japan 52454 10558 +104
S9 W.Africa trip via ECSA to Skaw-Passero 52454 6738 +105
S8 S. China via Indonesia / EC India 52454 8656 +125
S10 S China via Indo S. China 52454 8375 +125
S11 Mid China/Australia or Nopac 52454 8057 +128
Weighted Time Charter Average (S1A, S1B, S2, S3, S4A & S4B), $8998, +$93
Baltic Exchange Handysize Index
ROUTE NO DESCRIPTION SIZE(MT) VALUE ($) CHANGE
HS1 Skaw - Passero trip Recalada - Rio de Janeiro 28000 5120 +120
HS2 Skaw - Passero trip Boston - Galveston 28000 5071 +104
HS3 Rio de janeiro-Recalada trip to Skaw-Passero 28000 9044 +191
HS4 US Gulf trip via US Gulf or NCSA to Skaw-Passero 28000 9616 +45
HS5 South East Asia trip via Australia to Spore-Japan 28000 7000 +204
HS6 S Korea - Japan via NOPAC to Singapore-Japan 28000 6589 +139
Weighted Time Charter Average (HS1, HS2, HS3, HS4, HS5 & HS6), $7004, +$144
9. MARKET REPORT
CAPESIZE
Another positive day on all routes for the big ships but again a
market always dogged by uncertainty as to duration.
For now, rates in the east crept close to the mid-high $6.00s for
West Australia/China cargoes and significantly over $10.00 from
Saldanha to Qingdao and talk of a stronger timecharter rate
agreed on this run.
Brazil, as expected, firmed with April stronger as owners with tonnage in the east saw less reason to
ballast. Further north in the Atlantic, there was talk of firmer front haul and transatlantic but with
little detail.
Charterers continued to take period tonnage including Koch Shipping now linked with the Great
Zhou 180,335-dwt 2010-built from China 15-30 March for 11 to 13 months trading at $14,000 daily.
Cargill reportedly took the Nicolemy 179,910-dwt 2014-built for one year's trading with retroactive
delivery Caofeidian 7 February.
Some suggested the rate was in the low-mid $12,000s daily and others that it was $12,000 daily.
ATLANTIC
Cargill reportedly fixed the 179,607-dwt 2011-built Taurus for a cargo from CSN to China at $14.85 to
$15.00 but this was not confirmed.
Caravel was today reported fixing the Green Galaxy 2006-built for a cargo from Tubarao to Qingdao
at $13.90 after the vessel failed to Tonkolili for a 21-25 March cargo from Pepel to Qingdao at
$12.45. The Bilgent relet Seafarer 181,119-dwt 2013-built was said on subjects for a cargo from
Pepel to Qingdao at $14.75.
The 168,404-dwt 1997-built Enterprise was said on subjects for 8 March delivery Gibraltar with some
suggesting the ship fixed to SwissMarine for a trip via Nouadhibou to China at $19,000 daily.
On 3 March, CSE booked SwissMarine tonnage for a 16-25 March 130,000-tonne 10% cargo from
Seven Islands or Port Cartier to Kaohsiung but a rate was not reported. The charterer also took
SwissMarine tonnage on the same day for a 20-29 March similar-sized cargo from Tubarao to
Kaohsiung but again a rate was lacking.
There were rumours of improved numbers paid from Puerto Bolivar to Rotterdam with $6.75
mentioned but this so far proved inconclusive.
ASIA
Classic Maritime was said to have covered a 16-17 March cargo from Port Hedland to Qingdao at
$6.90 with the usual $299,000 disbursements. Rio Tinto was rumoured to have paid $6.50 from
Dampier to Qingdao but there too were reports that the charterer did a cargo for 20-22 March at
$6.45.
Cargill reportedly fixed a ship to move another cargo on this run at $6.40 having earlier fixed the
KWK Providence around $6.30. Timecharter talk included Hyundai Glovis earlier booking the 2012-
10. built 176,460-dwt Wan May from CJK 8-9 March for a full Australian round at $14,000 daily. The
2009-built 179,147-dwt Giant Ace open Zhangjiang 10 March fixed Monday but details were not
reported.
Hyundai Glovis was also reported to have booked the Anangel Victory 2016-built 179,000-dwt from
Krishnapatnam via Saldanha to Qingdao at a rate in excess of $17,000 daily.
Anglo American booked two prompt ships from Saldanha to Qingdao taking the Navios Bonavis
2016-built from Saldanha to Qingdao at $10.25 from 14 March and the Daiichi-controlled Kinokawa
Maru for 10 March onwards at $10.10.
Vale at the end of last week booked Seanergy vessel for a 10-14 March 160,000-tonne 10% from
Nacala to Isdemir and Erdemir but a rate was not reported.
Vale booked tonnage for eta 8 March from Teluk Rubiah to Qingdao at $4.10 and talk of a second
cargo at $4.15. Libra reportedly took the Aquafortune 174,725-dwt 2011-built for a cargo from
Indonesia to India but the rate remained under wraps.
Earlier Jiangsu Steamship booked the 176,996-dwt 2006-built retroactive Yantai 24 February for an
east coast Australia round at $9,250 daily.
Salzgitter fixed a 20-30 March 130,000-tonne 10% cargo from Roberts Bank to Hamburg, but a rate
was not reported.
K-Line was linked with the Navios Fulvia 179,263-dwt 2010-built coming open PMO for a trip from
Richards Bay to India although the rate was not reported. SwissMarine earlier this week covered a 5-
14 March 150,000-tonne 10% cargo from Richards Bay to Dhamra at $8.00.
Ore & Metals booked Oldendorff tonnage for an 18-22 March 180,000-tonne 10% cargo from
Saldanha to Qingdao at $8.15 basis a total 1.25% commission.
PANAMAX
South America continued to fuel activity in the market lending
support to the north Atlantic and Asia but there was a suggestion
that trading has stalled whether the result of charterers holding
back cargoes or a genuine slowdown remained to be seen.
In the north Atlantic, there were mixed views with some
suggesting fewer transatlantic cargoes and voyage rates were not
stacking up against timecharter ideas.
The emphasis remained on front haul from north coast South America and Brazil. Rates improved in
the east with even the average types still seeing strong rates although paper ended lower but on
profit taking, brokers said. Good Kamsarmaxes were trading $11,250 versus $12,500 daily open CJK
for NoPac rounds.
Some suggested that the grain houses were holding off from the period market as rates rose but
were still willing to look at super eco types but there remained a host of operators including the
Chinese.
11. An undisclosed charterer took the 81,845-dwt 2017-built Medi Kazahaya for 20-30 March delivery
Cebu for about 12 to 13 months trading at $11,500 daily.
BDH booked the 2009-built Kamsarmax Okinawa $9,000 daily for 5-7 March delivery Caofeidian for 4
to 7 months trading. Ausca Shipping booked the 2009-built 75,639-dwt Glyfada I from Shanghai for 4
to 8 months trading at $9,500 daily.
Sources said the Yasa Team 75,621-dwt 2006-built open Gibraltar was said on subjects for a short
period and had been willing to do $11,750 daily basis redelivery Atlantic.
ATLANTIC
Transatlantic reports included the 22-year old 71,555-dwt Peter S fixed to Oldendorff for 8 March
delivery Gibraltar for a Kamsar/Stade run at $8,250 daily.
The 2005-built 76,629-dwt EdF relet Marinicki open Aughinish 11 March was said on subjects for a
transatlantic round but details were not reported. The 2011-built Post-Panamax open Azores spot
fixed on subjects on private terms and EdF took and RWE vessel for a 75,000-tonne 10% coal cargo
for 15-25 March shipment from Newport News to Rotterdam at $9.70.
South America still threw up some strong rates with the United relet Konkar Venture 82,099-dwt
2015-built due east coast South America 15 March allegedly fixed clean to Itiro for a trip redelivery
Saudi Arabia at $11,000 daily plus a $600,000 bonus. Sources said Itiro booked in the Casilo 60,000-
tonne 10% barley cargo from Bahia Blanca to the Saudi Red Sea at $31.75.
grain cargo. Earlier the Aris T 92,526-dwt 2007-built was reported booked from Recalada 20-30
March for a trip via the Persian Gulf with PMO redelivery at $12,000 daily plus a $600,000 bonus.
The 2014-built 76,500-dwt Iolcos Fighter went at $11,000 daily from Abu Dhabi 8-13 March for an
east coast South America run to the east. The charterer in both cases was not disclosed.
A report overnight of CJ International fixing the 2010-built Kamsarmax Darya Jyoti fixing from Sunda
Strait 11-13 March for a trip via east coast South America to the east at $13,000 daily caused a stir
but sources said the business was not fixed but only traded.
There too was a report of a Kamsarmax fixing retroactive India for an east coast South American
round at $15,000 daily but details were sketchy. The 2006-built 82,379-dwt Nikolas XL 9-12 March
Singapore went at $12,000 daily but the charterer was not disclosed.
The Louis Dreyfus relet Panafrican 83,690-dwt 2008-built allegedly fixed 11-14 March from east
coast South America to Singapore-Japan. Worthington booked in the ship last week for 5 to 8
months trading at $9,000 daily and then relet the vessel to Louis Dreyfus for period.
ASIA
The Archigetis 2011-built Kamsarmax open Mariveles 12-13 March allegedly fixed for a trip via
Indonesia to south China at a hefty $15,000 daily. The ship was linked to EGPN but this proved
inaccurate. The 16-year old 74,306-dwt Hephaestus open 10-12 Hong Kong fixed for an east coast
Australia round at $10,500 daily.
The 1995-built 71,741-dwt Prema One open end March in north allegedly fixed to JFS for 3 to 4
laden legs in the east at a rate in the low $8,000s daily.
12. ULTRAMAX/SUPRAMAX
A volatile day with brokers reporting stronger rates from various
areas including the Indian Ocean, Pacific and south Atlantic.
Period remained active with a 63,000-tonner rumoured on
subjects for 9 to 12 months delivery the Far East in the mid
$10,000s.
The SBI Orion 2015-built 63,328-dwt was fixed basis delivery
Mumbai mid-March for 6 to 8 months trading redelivery worldwide at $10,300 daily.
The Pacific Pride 2012-built 59,994-dwt was reported at $10,000 daily basis delivery Philippines for 3
to 5 months trading redelivery worldwide at $10,000 daily.
ATLANTIC
Brokers said that the Great Comfort 63,000-dwt was fixed basis delivery Recalada trip redelivery
Singapore-Japan at $13,000 daily plus $300,000 ballast bonus. The Ocean Crown 52,347-dwt 2005-
built was linked to Bunge delivery Fazendinha trip Mediterranean at around $11,750 daily.
An Ultramax 63,000-dwt open east coast South America was rumoured fixed for minimum 90 days
duration redelivery worldwide at $12,500 daily plus $250,000 ballast bonus.
ASIA
The Kmarin Melbourne 63,253-dwt 2015-built was reportedly paid $10,250 daily basis Hong Kong for
a coal trip via Australia to Indonesia. A 63,000-dwt 2016-built was fixed on subjects at $10,500 daily
delivery CJK also via Australia to Singapore-Japan range.
Another 63,000-dwt 2016-built delivery Indonesia was booked for a coal run to China at $13,000
daily. The Spar Indus 63,800-dwt 2016-built open Machong was reportedly fixed at $9,500 daily for
the same trade. An Ultramax open India was rumoured booked at $14,000 daily redelivery China.
Klaveness was linked to taking the Olympic Pride 55,000-dwt 2006-built from Port Elizabeth to the
Persian Gulf at $10,250 daily plus a ballast bonus of $325,000 with a minimum duration of 35 days.
13. HANDYSIZE
Brokers suggested stronger rates from east coast South America but little was reported. Routes
within the Asian market remained firmly in positive territory.
ATLANTIC
The Ocean Hope 37,048-dwt 2013-built was rumoured fixed and failed on a voyage business from
east coast South America to the Persian Gulf, some brokers said this equated $15,000 daily.
Otherwise, little else came to light.
ASIA
The Four Butterfly 34,423-dwt 2011-built open Bintulu mid-March was rumoured fixed for short
period but no further details came to light. A 37,000-dwt open west coast India was close to fixing
for a trip to south-east Asia with steel in the mid $8,000s.
The Loch Lomond 2012-built 38,436-dwt was rumoured on subject basis delivery Singapore prompt
trip via Australia redelivery south-east Asia in the low-mid $8,000s.
The Globe Explorer 2015-built 28,316-dwt was linked to another Australian round basis delivery
Singapore trip via western Australia redelivery China at $7,500 daily on subjects but the charterer
was not disclosed.
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