Market Intelligence > Dry > Indices
ICAP HANDYMAX INDEX  7344 (+38) 23 October 2007

Wednesday 24 October 2007

23/10/07 22/10/07
ROUTE $ $
1 Antwerp – Skaw trip Far East 65,500 65,000
2 Canakkale trip Far East 58,250 58,000
3 Japan – SK/NOPAC or Australia RV 68,500 68,500
4 Japan – SK trip Gib – Skaw range 67,000 67,000
5 Antwerp – Skaw trip US Gulf 43,500 42,000
6 USG trip Skaw – Passero 85,500 85,000
Weighted Average 65,469 65,125
Index basis: 45,000 dwt bulk carrier max 15 years, 25t cranes with no grabs, 14k/29.5 ifo,no diesel at sea

CAP HYDE SUPRAMAX INDEX 10453 (+41) 23 Oct 2007

Wednesday 24 October 2007

22/10/07 19/10/07
ROUTE $ $
1 Black Sea to Far East 65,750 65,500
2 US Gulf to NCSA/Skaw-Passero 95,000 95,000
3 Far East to Atlantic 71,000 71,000
4 Australia/India (Pac round) 72,000 71,000
Average 4TCs 75,938 75,625

Index basis: 50-52,000 dwt bulk carrier, maximum 10 years old, 25t cranes with grabs, 14k on 30t ifo no diesel at sea

BALTIC DRY BULK INDICES 23 Oct 2007

Wednesday 24 October 2007

INDEX
Baltic Dry Index 10944 +91
Baltic Capesize Index 15515 +32
Baltic Panamax Index 11138 +224
Baltic Supramax Index 6845 +26
Baltic Handysize Index 3206 +22

For more information on routes or calculations please visit

Market Intelligence > Dry > Fixtures
Dry cargo fixtures

Wednesday 24 October 2007

ORE

Kwangyang to Pohang — vessel to be nominated, 170,000t, 84.23 per tonne, fio scale/60,000-45,000, 6/20 Nov. (Posco)

COAL

Richards Bay to Ijmuiden — Marine Hunter, 150,000t, 48.75 per tonne, fio scale/25,000, 15/30 Nov. (Swiss Marine)

TIME CHARTER

Good Luck (173,200 dwt, 12/53L 13/53B, 1984-built) delivery Yantai 15-Oct, redelivery worldwide, 4/6 months $158,000 daily. (Charterer not reported)

Alam Permai (87,052 dwt, 14/36.5L 14/36.5B, 2005-built) delivery Ymuiden 30-Oct, redelivery Continent, $93,000 daily. (EDF)

Nord Orion (75,250 dwt, 14L(A), 2006-built) delivery Tarragona 24/25 Oct, redelivery Singapore-Japan range, $90,500 daily. (Pacific Bulk)

Angelina (74,540 dwt, 14/34.5L 14/28.5B, 2001-built) delivery Inchon prompt, redelivery Japan, $100,000 daily. (NYK)

Seajoy (73454 dwt, 14/35L 15/34B, 2000-built) delivery Passero 26/29 Oct, redelivery PMO, 3 months $94,000 daily. (Charterer not reported)

Lanzarote (73,008 dwt, 14/31L 28B, 1996-built) delivery Ningbo prompt, redelivery Far East, $95,000 daily. (Charterer not reported)

La Donna 1 (63,880 dwt, 1983-built) delivery USG 27/29 Oct, redelivery Passero, $64,000 daily plus $1,200,000 ballast bonus. (ADM)

Santa Anna (56,042 dwt, 14.5L(A), 2006-built) delivery Huelva 25/30 Oct, redelivery Far East, $72,000 daily. (Charterer not reported)

Marjatta P (56,023 dwt, 14.5L(A), 2006-built) delivery North China 1/10 Nov, redelivery China, $73,000 daily. (Charterer not reported)

Furness Timika (52,508 dwt, 14/28L(A), 2001-built) delivery Haldia 28/30 Oct, redelivery China, $75,000 daily. (Charterer not reported)

Aristo River (32,500 dwt, 14.2L(A), 2005-built) delivery east coast India spot, redelivery China, $46,000 daily. (Charterer not reported)

Eternal Island (27,841 dwt, 14/ 28.3L 14/25.3B, 1998-built) delivery Qingdao spot, redel east coast India, $46,000 daily. (Charterer not reported)

SVJETSKI PROSJEK STAROSTI FLOTE……indikativno

Braemar says best yet to come for bulk

Janet Porter – Wednesday 24 October 2007

GLORY days for shipbrokers look set to continue, as dry cargo rates hit jaw-dropping heights, with nothing on the horizon to suggest the market may be peaking.

Braemar Seascope chief executive Alan Marsh predicted yesterday that the drybulk trades still have plenty of upside potential, even after the massive gains of the past year that have propelled rates for capesizes, in particular, into uncharted territory.

Underpinning confidence is the fact that producers, such as Australian mining giant BHP Billiton, continue to report unprecedented global demand for raw materials, while blue chip operators are prepared to commit to ship charters of five years or more from 2009 or even 2010.

In those circumstances, dry cargo rates could go up “quite considerably” over the next few months, Mr Marsh said.

Shipbroking activities account for around 75% of Braemar Seascope profits, which were well ahead in the first half of this year.

Revenue was 36% higher at £68.7m ($140.8m) while pre-tax profit was up 75% to £7.1m. This compares with a full year profit of £9m as recently as 2005. One analyst has now upgraded the full year result from £12.4m to £12.8m.

While shipbroking commissions are very strong in the present climate, Braemar Seascope wants to build up the non-broking, fee-paying side of the business to achieve a balance closer to 50:50 within five years or so, said finance director James Kidwell. That would reduce the company’s exposure to traditionally volatile freight markets.

Expansion will be achieved through a mixture of acquisitions and organic growth, with Braemar Seascope constantly evaluating potential takeover candidates.

Most shipbroking businesses up for sale have inflated price tags attached, but there are plenty of other investment opportunities, said Mr Marsh.

The company has been averaging £3m a year on acquisitions, all paid for out of operating cash flow, although it would be prepared to consider larger deals.

“We are not intimidated by size,” said joint managing director Quentin Soanes during a presentation of the company’s latest numbers.

One acquisition that has proved very fruitful is DV Howells, the environmental services firm bought by Braemar Seascope last year. It has been working closely with salvors on the MSC Napoli clean-up. The division’s profits soared from £100,000 to £1.2m, largely because of that work.

Although the tanker market has not shared in the dry bulk bonanza, market behaviour suggests that current conditions may be temporary, with one-year timecharter rates in the unusual position of being double current spot rates.

This is probably the largest differential ever, said Denis Petropoulos, who heads Braemar Seascope’s tanker division.

The half-year performance would have been even better but for the dollar’s weakness, which effectively knocked some £2m off revenue.

The firm wants to increase its international shipbroking profile, said Mr Marsh, but is more likely to do this by expanding the range of activities covered in existing offices rather than through acquisitions at a time when broking businesses’ expectations of their value remain excessive.

Containers
Danaos confirms 12,600 teu order

Monday 22 October 2007
GREEK containership owner Danaos Corp has confirmed a $830m order for five 12,600 teu vessels fixed on a 12 year charter.

Neither the name of the charterer nor rates of hire have been disclosed, but Lloyd’s List reported last month that the ships were thought to be going to Hyundai Merchant Marine for $58,700 per day.

The ships are to be built by Hyundai Samho Heavy Industries, with delivery between January and August 2011.

The deal is being financed by a mixture of own funds and debt, said Danaos.

For the first full year of operation, the five vessels will contribute around $92m of ebitda annually upon delivery of all five,

Containers
Goldenport expands fleet with boxship duo

Friday 19 October 2007
LONDON-listed Goldenport Holdings is expanding its containership fleet through a deal worth almost $30m for two vessels.

It is acquiring the 976-teu Gitte and MOL Brilliant, built in 1992 by Denmark’s Orskov shipyard, which both have existing charters.

The vessels are being acquired from an unaffiliated third party, DMK-Fare c/o DMK-Holdings, for an aggregate $28.62m.

The Gitte will continue a time-charter with Maersk Line at $ 11,385 a day until April 2008, with an option to extend for additional six months at a daily rate of $ 12,400. MOL Brilliant will be employed on an existing time charter with Mitsui OSK at $10,280 a day until August 2008.

Goldenport said the deal would be financed by cash reserves of $9.87m and a loan facility of $18.75m.

The company described the vessels as “high speed, fuel efficient, geared container vessels, with extensive trading flexibility and an excellent maintenance record.”

The Gitte will be delivered to the company after completion of her scheduled dry-docking

Novogradnje

Sada su odlične prilike da su udje u LPLH,isto vrijedi i za JDPL i ATPL

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