SHI PPI NG MA RK ET REVIEW

OCT, 2023 EDITION-12

INDEX

1. News of Dry Bulk Industry

2. Dry Bulk Assessment Market Commentary

/ Done Fixtures.

3. Wet Bulk - Tanker Assessment / Commentary

/ Period Rates

4. Containers Market Report fixtures.

5. Sale & Purchase Assessment Market

Commentary & Recent Deals.
(Bulkers & Tankers)

6. Bunker Prices

www.gujarathiempire.co 1
 SHI PPI NG MA RK ET REVIEW

OCT, 2023 EDITION-12

About Gujarathi Empire

We are Gujarathi Empire Group of companies active in ship brokering

& chartering, commodity sourcing. Having offices across the globe
includes India, Turkey, USA, Singapore, Dubai with master mariners &
team of professionals with combined 30+ years in shipping Industry.
Company giving range of services to worldwide clients includes but not
limited up to drafting of charter parties, searching suitable tonnages
within budget, sell and purchase of marine assets and otheradvisory
and consultancy to traders like procurement of Industrial Raw Products
includes Gypsum, Coal, Iron Ore, Limestone and Agro products like
Rice, Sugar directly from end Suppliers network which we have
established in last few year.

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 SHIPPING MAR KET REVIEW

OCT, 2023 EDITION-12

-06
1) CROWLEY AND SEACOR JOIN FORCES ON TANKERS

Crowley and SEACOR Holdings, through its subsidiary Seabulk Tankers, have
announced an agreement to form a joint venture that will integrate their liquid
energy and chemical transportation vessels, operations and related services
into a new, independent US Jones Act service provider called Fairwater
Holdings.

The Fairwater fleet comprises 20 ocean-going, articulated tug-barges and 11

tankers, many under long-term charter. The joint venture will provide crewing
and technical management for an additional 21 third-party owned vessels.

Daniel Thorogood, CEO of Seabulk, will assume the CEO role at Fairwater. The
joint venture will be based in Fort Lauderdale with offices in Fairfield,
Houston, Jacksonville and Seattle.

The joint venture transaction is expected to close in the first quarter of 2024.

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 SHIPPING MAR KET REVIEW

OCT, 2023 EDITION-12

-06

2) COSCO BULK DIVISIONS EMBRACE ELECTRONIC BILLS OF LADING

Electronic bills of lading (eBL) for energy transportation and bulk shipments are now
happening with COSCO’s bulk divisions joining the Hong Kong-headquartered block chain
platform Global Shipping Business Network

Traditionally, both bulk and energy shipments have relied heavily on letters of indemnity
(LOIs) as proof of shipment ownership to authorize cargo release to the consignee in the
absence of an original bill of lading.

COSCO has shown that this antiquated method can be updated finally for the 21st century.

COSCO Bulk recently issued its first eBL for Yancoal, an Australian-based coal producer,
connecting the entire business chain including banks, traders, miners and end-users.
COSCO Energy also issued the first eBL for 30,000 tons of domestic trade marine oil for the
shipment of China National Offshore Oil Corporation this month. The bill of lading was
confirmed by the upstream and downstream parties and returned to the carrier to
complete the release

Bertrand Chen, CEO of GSBN said, “Our goal has always been to develop GSBN into a
platform that can support the full spectrum of shipping. This announcement therefore
represents a significant milestone for the consortium and the digitization journey for the
industry. The successful issuance of eBLs for bulk cargo and energy shipment will also
unlock greater trade finance for the industry as banks want a single point to interface
with all types of eBLs and trusted shipping data, especially for high value cargo such as
bulk and energy transportation.”

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 SHIPPING MAR KET REVIEW

OCT, 2023 EDITION-12

-06

3) UKRAINE GRAIN SHIPPING INSURANCE FACILITY DEBUTS

Insurance broker Miller has unveiled a marine insurance facility for Ukrainian grain exports,
backed by the government in Kyiv.

Ukraine has been using a new corridor heading south which hugs close to its shoreline from
three Black Sea ports to shift its grain exports in the wake of Russia deciding to walk away
from a United Nations-brokered grain shipping pact in July.

London-headquartered Miller said it had teamed up with British maritime technology

company Clearwater Dynamics (CWD) to develop a war risks insurance facility covering
both cargo and hull insurance for grains shipments via three ports – Chornomorsk, Odesa
and Pivdennyi.

“Insurance has a critical role to play in enabling the shipping of Ukrainian grain, and we
are proud to have been able to play a role in providing an industry-wide solution,”
commented Miller marine head Nick Summers. “Working closely with Clearwater
Dynamics, we have been able to show the huge real-world impact that insurance can
have by combining technology with deep sector expertise.”

Another insurer Marsh has also been developing its own Ukraine grain shipping insurance,
details of which are expected to be revealed soon.

Data from Oceanbolt shows Ukraine has managed to ship just 192,000 tons of grain in the
last 30 days, principally via its river ports. By contrast, it was able to ship nearly 700,000
tons for the month of May when the Black Sea Grain Initiative was still running smoothly.

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 SHIPPING MAR KET REVIEW

OCT, 2023 EDITION-12

-06

• Capesize :- In pacific there is reduction of tonnage list as per broker sources , In Atlantic support
from South Brazil is evident with some fixtures reported . Iron Ore Rate on the West Australia
China Route at level of low USD 10 fio range . In Pacific Rio Tinto fixed 3 fixtures Iron ore from
Dampier to Qingdao for 13 to 20 oct dates in range of 9.90-9.80 USD /mt Vale fixed 2 fixtures from
TRMT To Qingdao for first 10 days October with freight USD 7.45 -8.20 / mt . In Atlantic Vale also
fixed one mini COA Tubaro to Qingdao in region of USD 18/ mt one shipment till oct . Bunge Fixed
MV Great Song ( 180 k / 2011 ) Tubaro To Qingdao at 23.15 USD/ Mt . Anglo fixed MV AM Kirti (
180K/2019 Acu to China 15-25 oct dates for 23.15/mt Koch fixed MV Ture Crusader at 25.25
USD/mt for dates 23/29 oct Sudeste to Qingdao . Vale fixed MV premiership ( 170 K /2010 Built )
from Tubaro to Libya USD 17.10 / mt . The 5 TC Route average improved by USD 3000/ Day closing
the week at USD 20520/ Day Transatlantic return voyage at USD 41500 / Day . Transpacific return
voyage on USD 16750 / Day .Capesize 1 year TC rate indication around 18000 USD/ Day eco 180 k
capesize rate around USD 20250 / day.

• Panamax / Kamsarmax :- North Pacific Rounds ranged at USD 15000 PD trips from china to Japan
fixed around 18000 usd pd . Indonesian coal trips into china fixed at USD 13000 pd Indonesia trip
to India fixed at 11000 USD PD . South East Asia Trips via ECSA into china were reported at levels
usd 17000 pd . Inter cont trips via US Gulf fixed at 21000 USD PD South America trips into china
fixed at USD 17000 usd pd plus ballast bonus 750 K. Kamsarmax for period 8/10 Months USD
13500 pd delivery south korea . 81000 Dwt KMX Fixed by grain house by 20000 USD/ PD for
delivery S America to Continent with grains . Trip from sKaw Gib to Far east USD 26000/ day
Pacific return voyage 12750 / day . Atlantic return voyage around 17000 USD/ Day. Panamax 1 year
TC rate around 13750 USD/ Day.

• Supramax / Ultramax :- Indonesia trips into china and India fixed at levels of USD 14000-17000 pd
. PG to India fixed at levels of USD 17000 PD WCI To persian gulf with clinker fixed at 22000 USD PD
South America trips into china fixed at USD 14000/16000 pd plus ballast bonus 600 K. Ultramax
fixed at 14250 pd basis delivery china for 12/14 months Supramax for period around 12750 USD/
Day.

• Handysize :- Inter China local trips with steel fixed at USD 10000 PD Australia Trips into china
reported at USD 12000 PD . US East coast to med sea with scrap fixed around USD 16000 PD US
Gulf trips to North coast South America in USD 16000 PD . South America to Med sea at USD
12000/14000 PD . Handy 1 year TC down to USD 10350 / day in Atlantic and USD 10,000/ Day in
pacific.

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 SHIPPING MAR KET REVIEW

OCT, 2023 EDITION-12

-06

HANDYMAX
Load Port Discharge Port Freight (USD/PMT)
Gladstone, Australia Jabel Ali, UAE 31.00
Gladstone, Australia Lianyungang 25.40

SUPRAMAX-ULTRAMAX
Commodity Load Port Discharge Port Freight
(USD/PMT)
Iron Ore Paradip Qingdao 13.50

Coal Richards Bay Navlakhi 19.50

Richards Bay Paradip 20.10
Richards Bay Chittagong 20.00
South Kalimantan Paradip 14.80
South Kalimantan Krishnapatnam 15.60
East Kalimantan Gungzhou 12.65
East Kalimantan Campha 13.00

Limestone Mina Saqr Paradip 14.00

Petcoke New Orleans Iskenderun 28.00

Houston Krishnapatnam 47.75
Houston Qingdao 51.50

Grains New Orleans Kashima 54.00

Recalda Bejajia 39.75
Santos Qingdao 45.00
Santos Cigading 41.45

Scrap Riga Aliaga 34.25

New Jersy Aliaga 28.25

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 SHIPPING MAR KET REVIEW

OCT, 2023 EDITION-12

-06

PANAMAX- KAMSARMAX

Commodity Load Port Discharge Port Freight

(USD/PMT)
Iron Ore Murumgao Qingdao 14.45

Coal Richards Bay Mundra 17.30

South Kalimantan Mundra 11.50
Richards Bay Krishnapatnam 18.50
South Kalimnatan Krishnapatnam 10.0
South Kalimnatan Paradip 9.60
East Kalimantan Gungzhou 8.50
Hay Point Qingdao 15.45
Hay Point Paradip 16.80
Vancouver Vizag 26.50
Vancouver Qingdao 19.0

Limestone Mina Saqr Paradip 11.30

Grains Santos Qingdao 44.0

New Orleans Qingdao 59.0
New Orleans Fangcheng 61.0

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 SHIPPING MAR KET REVIEW

OCT, 2023 EDITION-12

-06

CAPES

Commodity Load Port Discharge Port Freight

(USD/PMT)
Iron Ore Port Headland Qingdao North 11.0
Northwest Australia China
Saldhana Bay South Qingdao 18.50
Africa
Tubaro , South Brazil Qingdao 25.45
Tubaro , South Brazil Rotterdam 12.25
Seven Island , Canda Qingdao 30.35

Coal Haypoint , Qingdao , North 13.40

Northwest Australia China
Hay Point , Rotterdam , 17.50
Northwest Australia Netherlands
Gladstone , Australia Kashima Japan 15.60
New Castle , Pohang , South 16.30
Australia Korea
New Castle , Zhousan 16.45
Australia
Richards Bay Mundra 13.15
Richards Bay Krishnapatnam 14.80
Richards Bay Qingdao 18.25
Puerto Bolivar , Krishnapatnam 30.25
Coloumbia
Kamsar , Guinea Yantai , North 26.35
China
Bauxite Ore Port Headland Qingdao North 11.0
Northwest Australia China

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 SHIPPING MARKET REVIEW

OCT, 2023 EDITION-12

CURRENT VESSEL FIXTURES :-

TCT/PERIOD

VESSEL NAME DWT DELIVERY DURATION REDELIVERY YOB RATE CHARTERERS

Maran 177835 Singapore 1 TCT FEAST 2009 21000+ BB UNDISCLOSED

Argonut 500 K USD
Golden 175861 Singapore 1 TCT FEAST 2010 23500 +BB OLDENDORFF
Future 500 K USD
Haralambos 179922 Zhoushan 1 TCT China 2009 22000 Multimax
Chola 76619 S China 1 TCT India 2008 8500 NYK
Destiny
Star Peace 79025 S China 1 TCT India 2011 12500 Delta Corp
Jador 56098 Singapore 1 TCT North 2013 17000 Integrity Bulk
China
Tomini 63511 Durban 1 TCT Spore- 2018 19000 +BB Norden
Liberty Japan 190 K
Venus 95692 Matsura 1 TCT China 2011 14800 RTS
History
Welprofit 93249 Keelung 1 TCT Philippines 2011 10750 Oldendorff
Asia 81129 EC south 1 TCT Skaw Gib 2017 21000 WBC
Confidence America
Forever SW 58186 Kon Shi 1 TCT Cambodia 2010 14500 Refined Success
Chang
Hunyang 75784 Koh Shi 1 TCT Philippines 2013 11000 Norden
Spirit Chang

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 SHIPPING MARKET REVIEW

OCT, 2023 EDITION-12

MARKET TANKERS: COMMENTARY & RATES

• VLCC :- Middle east Gulf to china trip around USD 20750 / day M. East Gulf to Singapore
trip around USD 24500/ Day . W Afr to china trip around USD 25000/ Day US Gulf to china
trip USD 25750 / Day 1 year TC rate for 310 K DWT around USD 50,000/ Day .

• Suezmax :- Average TCE Closed at steady USD 9500/Day .WAFR to continent trip USD
12350/ Day Black sea to med USD 6750/ Day .MEG to Med USD 6000/ Day . 1 Year TC Rate
for 150 K DWT USD 41750/ Day.

• Aframax :- Average TCE Closed at around USD 13000/ Day . Kuwait to Singapore up by 7k
around USD 23250/ Day . South East Asia to east coast Australia around USD 28500/ Day 1
year TC rate for 110 K DWT around USD 42000/ Day .

• Products :- LR 2 route middle east to Japan around USD 25000/ Day . AG To UK Cont
around USD 30,500/ Day . LR 1 MEG To Japan is around USD 23250 / Day . MEG To UK Cont
around USD 32000/ Day .MR Atlantic basket earning around 24000 USD/ Day and MR
Pacific basket earning around 27750 USD / Day . MR Route Rotterdam to new York around
20,000 USD/ Day .US Gulf to Brazil at 27750 USD/ Day ARA To west Africa around 23500
USD / day

LR2 1 year TC rate around 42000 USD / day and MR 2 “1 year” TC Rate around 28750 USD /
Day.

TANKERS PERIOD RATES

VESSEL SIZE USD / DAY

VLCC 300 K 49500
SUEZAMAX 150 K 41500
AFRAMAX 110 K 42000
PANAMAX 75 K 32750
MR 52 K 28500
HANDY 36 K 25500

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 SHIPPING MARKET REVIEW

OCT, 2023 EDITION-12

TANKERS MARKET RATES (USD/DAY)

VESSEL SIZE ROUTE RATES

265 K VLCC MEG-SPORE 24578
280 K VLCC - -
260 K VLCC WAF-CHINA 24350

130 K SUEZMAX MED-MED 17827

130 K SUEZMAX WAF-UKC 12250
140 K SUEZMAX BSEA-MED 6750

80 K AFRAMAX MEG-EAST 24500

80 K AFRAMAX MED-MED 15250
70 K AFRAMAX CARIBS-USG -
75K AFRAMAX MEG-JAPAN 24950

55K CLEAN LR MEG-JAPAN 23250

UKC-USAC 19250
37 K CLEAN
30 K CLEAN MED-MED 26750

55K DIRTY UKC-USG 14750

55K DIRTY MED-USG 15250
50 K DIRTY CARIBS-USG 11500

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 SHIPPING MARKET REVIEW

OCT, 2023 EDITION-12

CONTAINER MARKET REPORTED FIXTURES

Name Built TEU TEU@14 Gear Account Period Rate

Olympia 2017 1717 1230 Gearless Cosco 6-9 12500 USD
Months

Consignia 2022 1091 650 Gearless Sinkor 4-7 10000 USD

Months

Wiebke 2009 1012 620 Gearless Samudera 5-7 7850 USD

Schepers Months

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 SHIPPING MARKET REVIEW

OCT, 2023 EDITION-12

SNP MARKET COMMENTARY: BULKERS

• Capesize vessel Navios Beaufiks 180/2004 Koyo Japan ( SS 08/2026 DD 10/2024 ,

BWTS Fitted ) sold on 13 Mio USD .The Suigo 174/2011 Namura Japan ( SS 11/2024 ,
DD 08/2024 BWTS Fitted ) sold to Greek buyers for 23.5 Mio USD

• In Supramax Swiss Singapore committed Vinayak 58/2009 Zhoushan China ( SS/ DD

09/2024, BWTS Fitted ) for mid high USD 14 Mio Region . Xing Hong Da 8 58/2012
Yangzhou China ( SS 01/2027 DD 01/2025, BWTS ON order ) to Chinese buyers for
12.7 Mio USD . Kouropi taken by Indonesian buyers 56/2008 , Mitsui Japan ( SS
03/2027 , DD 03/2025, BWTS Fitted ) sold to 14.2 Mio USD

• Pretty Sea Holdings sold their handy size Purple Sea 35/2011 Nantong China ( SS
06/2026 , DD 06/2024, BWTS Fitted ) to buyers for 10.9 Mio USD . Uni Auc One
28/2007 Shin Kochi Japan ( SS 06/2027 DD 10/2025 , BWTS Fitted ) sold at 7.8 Mio
USD

SNP MARKET COMMENTARY: TANKERS

• Permuda SPA sold their Aframax PS Venezia 108/2010 China Built (SS/ DD
08/2025 , BWTS Fitted) for low mid 37 Mio USD.

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 SHIPPING MARKET REVIEW

OCT, 2023 EDITION-12

SALES & PURCHASE MARKET DETAILS

BULKERS

Type Name Dwt YoB Yard SS Price Buyer Comments

New castlemax Clear 207,947 2012 NACKS 07/2027 31.5 German BWTS Fitted ,
Horizon Enbloc
207,867 2012
Blue NACKS 31.5
Horizon 06/2027
Capesize Navios 180,310 2004 Koyo 08/2026 13 BWTS Fitted
Beaukiks
Capesize Contamines 180-181 K 2016 SWS 07/2025 43.5 Mittal BWTS Fitted
/ Chow / DWT
Comanche
Capesize Suigo 174,802 2011 Namura 11/2026 23.5 Greek BWTS Fitted

KMX Nord Sun 82146 2013 Cebu 10/2026 21 Greek BWTS Fitted

KMX Magic Argo 82338 2009 Oshima 15.75 Minoa Marine BWTS Fitted

PMX ORION III 76602 2005 Japan 01/2025 10.1 BWTS Fitted

SMX Vinayak 58059 2009 Zhoushan 09/2024 14 BWTS Fitted

China
SMX Xing Hong 58018 2012 Yangzhou 01/2027 12.7 Chinese BWTS On Order
Da 8
SMX Supra 57017 2012 Qingshan 01/2025 11.5 Indonesia BWTS Fitted
Thessal
SMX Helian Song 56851 2011 Tianjin 12/2026 13.1 BWTS Fitted

SMX Kouropi 56047 2008 Mitsui 03/2027 14.2 Indonesian BWTS Fitted

SMX Jag Rohan 52450 2006 Cebu 9.25 Chinese BWTS Fitted

HMX Fengning 39900 2015 Chengxi 2025 19.5 Mio Each USA JP Morgan Enbloc deal 3
/Funing / Sister Vessels
Foochow
HMX Gold Oak 37732 2017 Shimanami 11/2027 24 Mio BWTS Fitted

HMX Vog Julie 35853 2011 Daoda China 12Mio BWTS Fitted

Handysize Purple Sea 35214 2011 Nantong China 06/2026 10.9 Mio BWTS Fitted

Handysize 21 Lucky 29756 2001 Shikokou 07/2026 5.5 Mio

Handysize Uni Auc 28709 2007 Shin Kochi 06/2027 7.8 Mio BWTS Fitted
One Japan
Handysize Glorious 26091 2013 Shin Kurushima 05/2028 13.7 Mio BWTS Fitted
Jupiter Japan

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 SHIPPING MARKET REVIEW

OCT, 2023 EDITION-12

SALES & PURCHASE MARKET DETAILS

TANKERS
Tankers Name DWT YOB Yard SS Price Buyer Comments

Aframax Crudeme 115643 2018 Daehan 70.0 Each Swiss Enbloc BWTS
d/ Fitted
Crudesun
Aframax PS 108,870 2010 Zhonghua 08/2025 Low mid 37 BWTS Fitted
Venezia China Mio
MR Pyxis 50124 2015 Korea 01/2025 40.75 USA BWTS Fitted
Epsilon
MR Sandpipe 51833
r Pacific
MR Dominia 40174 2009 Korea 06/2024 24 Mio Stealth Maritime Auction Sale
Greek Ice Class 1B
MR Shandon 40059 2004 Shina Korea 03/2024 14.45 Auction Sale
g Zihe
LPG Saltram 54627 2015 Hyundai 07/2025 73.5 Naftomar Dely Q1 2024
Korea Shipping

BUNKER PRICES
VLSFO MGO IFO 380
632 872 463
Singapore
578 863 512
Rotterdam
610 918 512
Houston
626 944 470
Fujairah

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 SHIPPING MARKET REVIEW

OCT, 2023 EDITION-12

CONTACTS
For Information :-
[email protected]

For Cargoes :-
[email protected]

For Chartering :-

[email protected] Ashutosh Gujarathi

For Break Bulk :- +91 98600 40552
[email protected]
For Tonnages :-
Samkit Metha
[email protected]
+91 77569 90504
For SNP :-
[email protected]
For Period :- Chinmay Wasnik
[email protected]
+91 93717 10037
For Tankers :-
[email protected]

Disclaimer
This publication has been prepared by Gujarathi Empire Group. While every care has been
taken to ensure the accuracy of the information contained in the document, Gujarathi
Empire Group does not assume or accept any responsibility for the correctness or
completeness of the material set out herein. The rates contained in this publication are
indicative only and are subject to change without notice. The views expressed do not
necessarily reflect the views of GE or any of the GE affiliated companies. It should not be
seen or regarded as a business recommendation or a solicitation to do business. This
publication is copyright of GE Unauthorised reproduction or redistribution is prohibited
unless approved by GE.

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