WEEKLY SHIPPING MARKET REPORT - pg. 1 Week 10 (5 th Mar to 12 th Mar 2021) Bulkers Eiko Kisen have committed their Capesize “Bulk Switzerland” 181/2010 (SS 10/2025, DD 12/2023, BWTS & Scrubber fitted) to Greek buyers for USD 25,6 mill, while the one-year-younger “Frontier Island” 181/2011 Koyo, Japan (SS 03/2026, DD 10/2023, BWTS fitted) from NYK Line was sold to Greek buyers Cyprus Sea Lines for USD 25,3 mill. For reference, the “King Ore” 177/2010 Namura & Sasebo, Japan (SS/DD 07/2022, BTWS & Scrubber fitted) was sold back in January at USD 20,3 mill. Santoku Senpaku’s Kamsarmax “Lady Giovi” 81/2007 Mitsui, Japan (SS/DD 04/2022, BWTS fitted) was committed to undisclosed buyers for USD 16 mill. Note that the one-year-younger “Fortune Rainbow” 82/2008 Oshima, Japan (SS/DD 02/2023, BWTS fitted) was sold in February at USD 14 mill. On the Ultramax sector, Celsius Shipping sold their “GH Seabird” 63/2016 Yangfan, China (SS 08/2021, DD 05/2021, BWTS fitted) to Korean buyers for USD 19,5 mill. Remind you that the same owners sold back in February the two-years-older “GH Storm Cat” 63/2014 Sainty, China (12/2024, DD 11/2022, BWTS fitted) at USD 15,75 mill. In addition, Keishin Kaiun sold their Japanese built “Tokyo Bulker” 61/2012 Iwagi, Japan (SS/DD 01/2022) to Chinese buyers for USD 14,5 mill. Meiho Kaiun have sold their Handysize “Ocean Honesty” 38/2013 Shimanami, Japan (SS/DD 07/2021) to Hong Kong buyers for low USD 14 mill, while Nissen Kaiun sold the one-year-younger sister vessel “Ocean Journey” 38/2014 Shimanami, Japan (SS 01/2024, DD 10/2021, BWTS fitted) to Greek buyers for USD 14,75 mill. For comparison purposes, the sister vessel “Indigo Silva” 38/2013 Shimanami, Japan (SS 12/2025, DD 01/2024, BWTS fitted) was sold a couple of weeks ago at USD 14 mill basis SS/DD freshly passed. Tankers Following the purchase of “Hunter Atla” 300/2019 Daewoo, Korea (SS 09/2024, DD 09/2022, Scrubber fitted) at USD 84,5 mill, UAE buyers ADNOC acquired a Chinese built VLCC resale this time, the “Cs Shandong Venture” 308/2021 Dalian, China (SS 03/2026, Scrubber fitted) for USD 87,5 mill. A correction to our last report, the sister vessels “Star Osprey” & “Star Swift” 114/2003 Samsung, Korea were not committed to FGAS, but to other Vietnamese buyers. Unicorn Shipping have committed their MR2 sister vessels “Leopard Moon” & “Leopard Sun” 50/2013 Spp, Korea (SS/DD 08/2022 & SS/DD 09/2022 respectively) for USD 21,4 mill each. Moreover, Norden sold their MR1 “Nord Bell” 38/2007 Guangzhou, China (SS/DD 04/2022) to European buyers for low-mid USD 8 mill. Note that a week ago, the one-year-older “Nordic Pia” 38/2006 Guangzhou, China (SS/DD 08/2021) was sold at low USD 7 mill. Baltic Indices INDEX 12-Mar 5-Mar ± (%) BDI 1.960 1.829 7,16% BCI 2.019 1.784 13,17% BPI 2.242 2.241 0,04% BSI 2.077 1.917 8,35% BHSI 1.283 1.131 13,44% Daily T/C Avg 12-Mar 5-Mar ± (%) Capesize $ 16.741 $ 14.794 13,16% Kamsarmax $ 20.178 $ 20.165 0,06% Supramax 58 $ 22.844 $ 21.089 8,32% Handysize 38 $ 23.096 $ 20.357 13,45% INDEX 12-Mar 5-Mar ± (%) BDTI 721 666 8,26% BCTI 531 488 8,81% 0 1.000 2.000 3.000 4.000 5.000 Bulkers B.D.I B.C.I B.P.I. B.S.I. B.H.S.I. 0 200 400 600 800 Tankers BDTI BCTI WEEKLY SHIPPING MARKET REPORT WEEK 10
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WEEKLY SHIPPING MARKET REPORT - pg. 1
Week 10 (5th Mar to 12th Mar 2021)
Bulkers
Eiko Kisen have committed their Capesize “Bulk Switzerland” 181/2010 (SS 10/2025, DD 12/2023, BWTS & Scrubber fitted) to Greek buyers for USD 25,6 mill, while the one-year-younger “Frontier Island” 181/2011 Koyo, Japan (SS 03/2026, DD 10/2023, BWTS fitted) from NYK Line was sold to Greek buyers Cyprus Sea Lines for USD 25,3 mill. For reference, the “King Ore” 177/2010 Namura & Sasebo, Japan (SS/DD 07/2022, BTWS & Scrubber fitted) was sold back in January at USD 20,3 mill.
Santoku Senpaku’s Kamsarmax “Lady Giovi” 81/2007 Mitsui, Japan (SS/DD 04/2022, BWTS fitted) was committed to undisclosed buyers for USD 16 mill. Note that the one-year-younger “Fortune Rainbow” 82/2008 Oshima, Japan (SS/DD 02/2023, BWTS fitted) was sold in February at USD 14 mill.
On the Ultramax sector, Celsius Shipping sold their “GH Seabird” 63/2016 Yangfan, China (SS 08/2021, DD 05/2021, BWTS fitted) to Korean buyers for USD 19,5 mill. Remind you that the same owners sold back in February the two-years-older “GH Storm Cat” 63/2014 Sainty, China (12/2024, DD 11/2022, BWTS fitted) at USD 15,75 mill. In addition, Keishin Kaiun sold their Japanese built “Tokyo Bulker” 61/2012 Iwagi, Japan (SS/DD 01/2022) to Chinese buyers for USD 14,5 mill.
Meiho Kaiun have sold their Handysize “Ocean Honesty” 38/2013 Shimanami, Japan (SS/DD 07/2021) to Hong Kong buyers for low USD 14 mill, while Nissen Kaiun sold the one-year-younger sister vessel “Ocean Journey” 38/2014 Shimanami, Japan (SS 01/2024, DD 10/2021, BWTS fitted) to Greek buyers for USD 14,75 mill. For comparison purposes, the sister vessel “Indigo Silva” 38/2013 Shimanami, Japan (SS 12/2025, DD 01/2024, BWTS fitted) was sold a couple of weeks ago at USD 14 mill basis SS/DD freshly passed.
Tankers
Following the purchase of “Hunter Atla” 300/2019 Daewoo, Korea (SS 09/2024, DD 09/2022, Scrubber fitted) at USD 84,5 mill, UAE buyers ADNOC acquired a Chinese built VLCC resale this time, the “Cs Shandong Venture” 308/2021 Dalian, China (SS 03/2026, Scrubber fitted) for USD 87,5 mill.
A correction to our last report, the sister vessels “Star Osprey” & “Star Swift” 114/2003 Samsung, Korea were not committed to FGAS, but to other Vietnamese buyers.
Unicorn Shipping have committed their MR2 sister vessels “Leopard Moon” & “Leopard Sun” 50/2013 Spp, Korea (SS/DD 08/2022 & SS/DD 09/2022 respectively) for USD 21,4 mill each. Moreover, Norden sold their MR1 “Nord Bell” 38/2007 Guangzhou, China (SS/DD 04/2022) to European buyers for low-mid USD 8 mill. Note that a week ago, the one-year-older “Nordic Pia” 38/2006 Guangzhou, China (SS/DD 08/2021) was sold at low USD 7 mill.
Baltic Indices
INDEX 12-Mar 5-Mar ± (%)
BDI 1.960 1.829 7,16%
BCI 2.019 1.784 13,17%
BPI 2.242 2.241 0,04%
BSI 2.077 1.917 8,35%
BHSI 1.283 1.131 13,44%
Daily T/C Avg 12-Mar 5-Mar ± (%)
Capesize $ 16.741 $ 14.794 13,16%
Kamsarmax $ 20.178 $ 20.165 0,06%
Supramax 58 $ 22.844 $ 21.089 8,32%
Handysize 38 $ 23.096 $ 20.357 13,45%
INDEX 12-Mar 5-Mar ± (%)
BDTI 721 666 8,26% BCTI 531 488 8,81%
0
1.000
2.000
3.000
4.000
5.000Bulkers
B.D.I B.C.I B.P.I. B.S.I. B.H.S.I.
0
200
400
600
800Tankers
BDTI BCTI
WEEKLY SHIPPING MARKET REPORT WEEK 10
WEEKLY SHIPPING MARKET REPORT - pg. 2
Week 10 (5th Mar to 12th Mar 2021)
Capesize
Week 10 saw iron ore rates on the West Australia / China route continued
at the level of low usd 9,00’s fio range. A Capesize was fixed on period at the
usd 20,500 pd basis delivery China for 10/13 months employment.
Kamsarmax / Panamax
North Pacific rounds ranged at the usd 22,000/24,000 pd. CIS Pacific rounds
ranged at the usd 24,000 pd. A number of Australian trips into China were
reported fixed in the usd 22,000/23,000 pd range. A number of Australian
trips into India were fixed around usd 21,000/22,000 pd. Indian trips via East
Coast South America into China were reported at the level of usd 25,000 pd.
Inter-Continental trips via East Coast South America were fixed around usd
28,000 pd. South American trips into Continent were reported at the level
of usd 32,000 pd. South American trips into China were fixed around usd
20,000/21,000 pd plus ballast bonus at the usd 1M/1,25M. On the period
front a Kamsarmax were reported fixed in the usd 21,000 pd for 4/6 months
employment basis delivery in the Pacific. It was also reported that a
Panamax was fixed on period at the usd 15,750 pd basis delivery China for
1year employment.
Ultramax / Supramax
A number of South East Asian trips with coal into China were reported at the
usd 25,000 pd. A number of Indian iron ore trips into China were fixed
around usd 33,000/34,500 pd. Mediterranean trips into West Africa with
clinker were reported fixed at the usd 28,000/29,000 pd. US Gulf trips into
Mediterranean with petcoke were fixed around usd 32,000 pd. North Coast
South American trips into Mediterranean with metcoke were reported at
the level of usd 31,000 pd. An Ultramax was fixed on period at the usd 26,500
pd basis delivery West Coast India for 3/5 months employment. Usd 25,700
pd on an Ultramax for 4/6 months employment basis delivery in the Pacific.
Handymax / Handysize
A number of Inter Persian Gulf petcoke trips were reported fixed at the usd
29,000 pd. Trips from Black Sea into China were reported at the level of usd
36,000 pd. A Small Handysize was reported fixed at the level of usd 20,500
pd for a trip from Black Sea into Mediterranean. North Coast South American
trips via Caribs into Continent with alumina were fixed around usd 22,000
pd. Usd 20,000 pd on a small Handysize for 3/5 months employment basis
delivery in the Pacific.
0
5.000
10.000
15.000
20.000
25.000
30.000
35.000
$/d
ay
Capesize
0
4.000
8.000
12.000
16.000
20.000
24.000
$/d
ay
Kamsarmax
0
4.000
8.000
12.000
16.000
20.000
24.000
$/d
ay
Supramax
0
5.000
10.000
15.000
20.000
25.000
$/d
ay
Handysize 38k
DRY BULK COMMENTARY
WEEKLY SHIPPING MARKET REPORT - pg. 3
Week 10 (5th Mar to 12th Mar 2021)
Bulk Carriers
Type Name Dwt YoB Yard SS M/E Gear Price Buyer Comments
Capesize Bulk
Switzerland 181.709 2010
Imabari,
Japan 10/2025
MAN-
B&W - $ 25,6m Greek
BWTS fitted
Scrubber fitted
Capesize Frontier
Island 181.352 2011 Koyo, Japan 03/2026
MAN-
B&W - $ 25,3m
Greek (Cyprus
Sea Lines) BWTS fitted
Capesize Xin Tai Hai 180.346 2011 Dalian,
China 05/2021
MAN-
B&W - $ 21m
Singaporean
(Berge Bulk)
Capesize New
Expedition 176.387 2013
Mitsui,
Japan 01/2023
MAN-
B&W - $ 27,5m Undisclosed BWTS fitted
Kamsarmax Lady Giovi 81.791 2007 Mitsui,
Japan 04/2022
MAN-
B&W - $ 16m Undisclosed BWTS fitted
Kamsarmax Super Grace 81.629 2011 Guangzhou,
China 12/2021
MAN-
B&W - $ 14,9m Undisclosed
Panamax Lord Byron 76.838 2005 Oshima,
Japan 05/2025
MAN-
B&W -
Low-Mid
$ 10m Undisclosed
BWTS fitted,
Incl. T/C
attached
Ultramax GH Seabird 63.553 2016 Yangfan,
China 08/2021
MAN-
B&W 4x30T $ 19,5m Korean BWTS fitted
Ultramax Tokyo Bulker 61.439 2012 Iwagi, Japan 01/2022 MAN-
B&W 4x30,7T $ 14,5m Chinese
Supramax Sam Wolf 57.200 2012 Stx, Korea 10/2022 MAN-
B&W 4x30T $ 11,93m Undisclosed Auction sale
Supramax Arietta A 56.947 2011 Liaoning,
China 03/2021 Wartsila 4x30T Undisclosed Undisclosed
Handymax Audacious 46.683 2004 Toyohashi,
Japan 01/2024 Mitsubishi 4x30T Mid $ 6m Turkish
Handysize Ocean
Honesty 38.276 2013
Shimanami,
Japan 07/2021
MAN-
B&W 4x30T Low $ 14m Hong Kong
Handysize Ocean
Journey 38.190 2014
Shimanami,
Japan 01/2024
MAN-
B&W 4x30,5T $ 14,75m Greek BWTS fitted
Handysize Lowlands
Brabo 32.280 2010
Kanda,
Japan 12/2022 Mitsubishi 4x30,5T $ 10,4m Greek OHBS
Handysize Vega Mars 31.728 2011 Fujian,
China 05/2021 Mitsubishi 4x30T Mid $ 6m Chinese
BWTS included
/not fitted
REPORTED SALES
WEEKLY SHIPPING MARKET REPORT - pg. 4
Week 10 (5th Mar to 12th Mar 2021)
Tankers
Type Name Dwt YoB Yard SS M/E Price Buyer Comments
“ THINK BIG ” Legal Disclaimer The information contained herein has been obtained by various sources. Although every effort has been made to ensure that this information is accurate, complete and up-to-date, Advanced Shipping & Trading S.A. does not accept any responsibility whatsoever for any loss or damage occasioned or claimed, upon reliance on the information, opinions and analysis contained in this report. Research compiled by: Advanced Shipping & Trading S.A. Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker Chartering Departments. For any questions, please contact: [email protected]