News

It’s Friday the 13th as I compile this report. Not that I believe in this date as being evil but the tragic loss of AI171 yesterday soon after take-off from Ahmedabad yesterday evening resulting in loss of innocent lives and this followed this morning with the sad news, a war between Israel and Iran, that was in the line to come one day sooner or later. The Iran- Israel war will directly affect several areas of our Shipping market today and for times to come.

Today Airspaces are frozen – closed, several Air India flights are being asked to return from mid-air from their International, routes back to India. Crude Oil prices have already shot up due to the latest conflict in the mid-east, what else will happen for the Industry to witness with the Tariff regime still in a limbo.

Global Financial markets are already responding to the above news.

Asia Stocks fall after Israel attack on Iran escalating political tensions, affecting risk sentiment. Most Asian currencies depreciated against the dollar, other than the safe-haven Japanese yen. The Korean won weakened by 0.9%, India and Malaysia’s currencies both lost 0.4% and the Singapore dollar fell 0.2%. The yen rose 0.73% against the greenback to Yen 142.81 v/s the dollar at one point of trading this morning in Japan market.

  • IAF launches major strike on Iran * Sirens wail across Israel to warn of ’new situation’ * Home Front Command warns Israel could face ‘heavy missile attack from the east’.

·        Shipping braces as Iran vows “a bitter and painful fate”

awaits Irael after missile attack

  • Iran says four military officials including the commander of Iran’s

Islamic Revolution Guard Corps were killed’

·        Ravenous MSC leads raid on second-hand market as German owner exits container business

  • Carrier bags box-ships from Contships, Conbulk and Dohle in an unrelenting buying campaign
  • Container shipping giant MSC Mediterranean Shipping Company continues to raid the second-hand market with a raft of vessels from Greek and German tonnage providers.

·        Greek owner Contships hives off feeder ship trio to Mediterranean buyer

  • The world’s largest liner operator has bought a handful of feeder vessels from Contships Logistics and Conbulk Shipmanagement of Greece, as well as from German owner Peter Dohle Schiffahrts.
  • NATO plans to hold a short summit focused on delivering what US President Donald Trump asked for: a commitment to spend 5% of GDP on defence. But beyond this number, deeper shifts are underway as NATO reorganizes with one goal: deterring Russia. The allies are discussing for the first time combining the alliance’s ballistic missile shield with other integrated missile-defence assets, we’re told. This is part of an effort to shield NATO’s eastern flank from attack, a move likely to stoke tensions with Russia. Meanwhile the alliance is also expanding its satellite surveillance capacities to scan large swaths of land in order to monitor military movements in Ukraine and on Russia’s borders with its eastern members.
  • Israel launched waves of airstrikes against Iran’s nuclear program and ballistic-missile sites on Friday morning, a major escalation in the standoff between the two adversaries. Iran said it would respond harshly to Israel and the US, though Secretary of State

Marco Rubio said the US wasn’t involved in the strikes. In recent days, Donald Trump had said he was less confident the US will reach a deal with Iran to curb its nuclear ambitions in exchange for sanctions relief.

  • Oil surged as much as 13% over fears of a wider war in a region that accounts for a third of global crude production.
  • The EU’s ambition to scale up nuclear energy as part of its 2050 climate neutrality goal will cost €241 billion, according to a draft EU document we’ve seen. While more than 80% of that would be used to build new reactors, market-based instruments to fund the expansion are still “lacking,” the draft says, underscoring the challenges facing Europe’s nuclear renaissance.
  • Costly Invasion | Russia has likely suffered 1 million

causalities since the start of its full-scale invasion of Ukraine, the UK said. The toll includes around 250,000 Russian soldiers who were killed or are presumed dead.

  • Crunch Time | Germany’s race to fill its vast gas storage sites ahead of next winter is entering crunch time after one of the country’s largest facilities failed to find buyers. That left

the Breitbrunn underground facility, the fourth biggest in the country, two-thirds empty and at a very high risk of falling well short of its 80% target by November.

  • As Bulgaria prepares to adopt the euro, the country is split in half: while politicians point to benefits like increased investment and lower borrowing costs over time, many citizens worry that prices will climb in the short term. For millions of Bulgarians who lived through economic crises, their currency — the lev — is more than just bills and coins, it’s a symbol of stability.

Japan, China trade barbs over fighter jet maneuvers

  • Beijing condemned on Thursday what it called “dangerous behavior” by a Japanese military plane over the Pacific after Tokyo said Chinese fighter jets flew unusually close to its aircraft at the weekend.
  • The Japanese government had complained to China over the incident, in which no Japanese military personnel were reported injured.
  • A Chinese J-15 fighter jet from the Shandong aircraft carrier followed a Japanese P-3C patrol plane for 40 minutes on Saturday, according to the Japanese defense ministry.
  • Two J-15 jets then did the same for 80 minutes on Sunday.
  • “During these long periods, the jets flew unusually close to the P- 3C, and they flew within 45 meters” of the patrol plane on both days, an official from the Japanese ministry told AFP.
  • Also on Sunday, Chinese jets cut across airspace around 900 meters ahead of a P-3C Japanese patrol plane at the same altitude — a distance a P-3C can reach within a few seconds at cruising speed, Tokyo said.
  • “We do not believe that this approach was made by mistake,” the Japanese military’s chief of staff Yoshihide Yoshida told reporters on Thursday.
  • “Given it happened for 40 minutes and 80 minutes, for two days in a row, our understanding is that it was done on purpose,” he said.
  • Beijing’s foreign ministry spokesman Lin Jian hit back at the Japanese description of the events.
  • “The root cause of the risk to maritime and air security was the close reconnaissance of China’s normal military activities by a Japanese warplane,” he said. “The Chinese side urges the Japanese side to stop this kind of dangerous behavior.”
  • The incident followed the sighting in recent days of two Chinese aircraft carriers sailing in the Pacific simultaneously for the first time.
  • Japan said this week the aircraft carriers’ activity — described by China as “routine training” — showed the expanding geographic scope of Beijing’s military.
  • Yoshida said on Thursday loosening Japan’s surveillance, information-gathering or countermeasures against intrusion “would encourage attempts to change the status quo by force”.
  • Tokyo’s top government spokesman Yoshimasa Hayashi earlier told reporters in regard to the fighter jet incident that “such abnormal approaches can lead to an accidental collision, so we have expressed serious concerns” to the Chinese side.
  • U.S. ambassador to Japan George Glass said on social media platform X that the maneuvers by a Chinese fighter “put Japanese crew members’ lives in peril”.
  • “Whether it’s harassing Philippine ships, attacking Vietnamese fishermen, or firing flares at Australian aircraft, Beijing knows only reckless aggression. Not so much a charm offensive as offensive harm,” Glass said.
  • Similar incidents were last reported in May and June 2014, when Chinese Su-27 fighter jets flew within 30 meters of Japanese military planes in the East China Sea.
  • Japan summoned the Chinese ambassador at the time, while the two sides traded accusations of blame.
  • Daisuke Kawai, director of the University of Tokyo’s economic security and policy innovation program, told AFP this week that the timing of the aircraft carrier movements could be linked to U.S.- China economic tensions.
  • “Beijing calculated that the United States would be less willing or able to respond militarily at this precise moment, seeing it as an opportune time to demonstrate its expanding military capabilities,” he said.

Crew rescued from sinking bulker in Indian Ocean

  • All 23 crewmembers aboard the Panama-flagged bulk carrier Run Fun 3 have been rescued after abandoning their sinking ship in the Indian Ocean.
  • The 172-m-long ship, built in 1997, departed Singapore and was sailing towards Togo when it began sinking due to an unknown cause of cargo hold flooding.The crew—21 Vietnamese and two Myanmar nationals—escaped on life rafts and were later rescued at sea by another bulk carrier, the Maple Harbour, which is commercially managed by C Transport Maritime (CTM) and part of the Supramax RSA Fleet from Stone Shipping’s chartered-in vessels
  • “The crew of the Run Fu 3 did everything possible to save their vessel, but at 08.15hrs local time, their captain made the decision to abandon ship,” CTM said.
  • The incident onboard Zhangjiagang Oceanicwit Shipping-owned 32,900 dwt bulker took place approximately 500 nautical miles south of the Maldives, the South Korean Ministry of Oceans and Fisheries said.
  • Following the rescue, the Maple Harbour, owned by South Korea’s Hangang Global Shipping, headed to Port Louis, Mauritius, where the Run Fun 3‘s crew safely disembarked.

Japan’s Shinomiya Tanker taps domestic yards for handysize

bulker series

  • Japanese shipowner Shinomiya Tanker has reportedly commissioned three compatriot yards for five handysize bulker newbuildings.
  • The Tokushima-based company has placed a single 40,000 dwt vessel at Naikai Zosen, with two additional ships each ordered from Imabari Shipbuilding and Hakodate Dockyard at $33m apiece.
  • The first ship, linked by brokers to a charter deal with Denmark’s Lauritzen Bulkers, was quietly ordered earlier and is due for 2025 delivery, although details surfaced only recently.
  • The remaining four bulkers are set for delivery in 2027 and will enter into charter contracts involving South Korea’s HMM and companies based in the United Arab Emirates and the UK.
  • Founded in 1968, Shinomiya Tanker currently lists 10 vessels on its website, four of which are bulkers. The company counts Gearbulk, Centurion Bulk, Tomini Shipping, Union Maritime, Iino Gas Transport and MSC among some of the charterers of its tonnage.

Green shipping leaders struggle to meet efficiency targets

  • Just how big a mountain shipping has to climb if it is to keep up with the green goals set by the International Maritime Organization (IMO) has been set in sharp relief with the latest disclosure report from the Sea Cargo Charter, whose members are considered environmental leaders in shipping.
  • Signatories to the charter were still 12.2% behind the minimum international climate goals set by the IMO in 2024, up from 9% the previous year.
  • The 34 Charterers and Shipowners featured in the report represent around 18% of global wet and dry bulk cargo transported by sea in 2024.
  • External conditions were cited in explaining the difficulties in getting sufficient climate alignment scores.
  • “Operational barriers such as regional port limitations (e.g. draft restrictions), challenging weather patterns, inefficient routing, and reliance on short-term charters contributed to alignment shortfalls,” signatories to the charter said in a release today.
  • The Sea Cargo Charter was launched five years ago to provide a global framework for assessing and disclosing the climate alignment of chartering activities. Its primary goal is to promote transparency and accountability in the shipping industry by aligning chartering activities with the climate targets set by the IMO, which aims to reduce greenhouse gas emissions from international shipping by at least 50% by 2050 compared to 2008 levels.
  • Notable members include ADM, Anglo American, Bunge, Cargill Ocean Transportation, Chevron, COFCO International, Dow, Equinor, Gunvor Group, Klaveness Combination Carriers, Louis Dreyfus Company, Maersk Tankers, Norden, Shell, TotalEnergies, and Trafigura.
  • The Energy Efficiency Operational Indicator (EEOI) developed by the IMO is the intensity metric used by the Sea Cargo Charter, adapted to reflect the full lifecycle CO2e emissions.
  • “Being at the crossroads of French, EU and IMO emissions regulations, Rubis values the use of EEOI as a single metric to assess our performance,” said Hervé Chretien, head of supply and shipping at Rubis Energie, a signatory since 2021.
  • “Sustainability in shipping is now an operational imperative.

Customers are looking for partners who can move cargo

responsibly,” commented Cheng Fan, head of commercial at

Golden-Agri Maritime, a signatory since 2022.

A lifeline to home and increased productivity

  • Internet use is now a critical factor in seafarer satisfaction, something that will only accelerate in the years ahead. The final installment from Ship Concept 2035.
  • An in-depth Inmarsat survey of nearly 400 seafarers working on merchant ships, offshore support vessels or high-end fishing vessels across the globe shows that seafarers are increasingly experiencing a sense of a ‘floating home’ when it comes to their time onboard, a portent of what’s to come over the next decade.
  • Seafarers spend an average 8% of their annual salary on internet connectivity, the survey found, with the cost split equally between their usage at home and onboard their vessels.

During long voyages, seafarers said they were 23 times more likely to feel positive effects from these personal interactions, rather than negatives.

  • Staying in touch with friends and family were the main reasons given for needing connectivity, although seafarers also cited managing work-related tasks as important, as ships increasingly depend on real-time data for both compliance and competitive advantage.
  • Around two thirds of respondents put personal video or voice calls and text messaging in their top three uses for connectivity. Less critical, but still pronounced, were top three preferences for social media (51%), web browsing (34%) and watching movies, TV shows, sports or other streamed content (29%). A small proportion identified shopping (11%) and gaming (8%) as top three online activities.
  • However, while 97% of these seafarers actively manage their own data usage at sea, more than four out of five said they exceeded their limit – with more than a third saying it happened often. Furthermore, a mixed picture emerged regarding satisfaction with connectivity at sea.
  • Of those surveyed, 28% said they were dissatisfied with the cost, while more than half said they would be willing to pay more for better connections.
  • Overall, internet usage among seafarers increases while they are in port, with 61% reporting higher usage and only 15% using it less. On average, seafarers use the internet 18% more while in port compared to when they are at sea. Although those who use their mobile phone plans often find it cheaper than vessel connectivity, the majority of the survey respondents (52%) indicated a preference for ship connectivity over their mobile plans or port wifi.
  • In a remarkable finding, 83% of the surveyed seafarers expressed concern about security and privacy while using a vessel’s internet – with one in nine of the seafarers reporting a data security issue, such as hacking or data loss, while connected to a vessel’s internet.
  • Clearly, for this seafaring constituency, work remains to be done on security before a ship can truly merit the comfort of a floating home.

Middle East shipping routes on alert amid rising US-Iran-Israel tensions

  • A rare and urgent joint advisory issued by United Kingdom Maritime Trade Operations, Maritime Security Centre – Horn of Africa, and Joint Maritime Information Centre has set alarm bells ringing for ship operators passing through the Middle East. The advisory warns of an increased threat level in the Arabian/Persian Gulf, Strait of Hormuz, and the Gulf of Oman, citing “increased tensions within the region which could lead to an escalation of military activity having a direct impact on mariners.”
  • At the heart of the warning is the deepening crisis between the US and Iran, with a sixth round of diplomatic talks over Tehran’s nuclear program reportedly scheduled for this week. However, the tone between both governments has grown increasingly hostile.
  • US president Donald Trump reaffirmed his stance that military action remains on the table if a satisfactory agreement on Iran’s nuclear ambitions is not reached. In response, Iranian minister of defence Aziz Nasirzadeh warned that any US military provocation would result in retaliatory strikes on US bases across the Middle East.

·        Iran seizes four tankers in key waterway amid fresh fuel- smuggling crackdown

Naval officers and marine commandos intercept vessels in Middle East Gulf

Iran has intercepted and seized four more tankers said to be involved in smuggling cheap fuel oil out of the country.

The arrests were made in the Persian Gulf, with thousands of litres of oil recovered, according to Ebrahim Taheri, the prosecutor of Minab county in Hormozgan province.

Fuel was stored in vessel tanks and large containers, Taheri added.

The ships have now been handed over to the National Iranian Oil Products Distribution Co.

The vessels have not been named, but they join a growing list to fall foul of Iranian forces this year over smuggling allegations.

These are usually small vessels and not always tankers. Some reports have suggested offshore ships are involved, but this has not been confirmed.

Iran is known for some of the world’s lowest fuel prices due to heavy

subsidies.

Price differences with neighbouring countries encourage smuggling.

Maritime danger warning issued for Strait of Hormuz amid signs of pending attack on Iran

UKMTO and Diaplous urge vessels to transit waters off Iran ‘with caution’

Petros Panagiotidis steps into tanker S&P market on the heels of Toro Corp spin-off

Diversified Greek owner buys his first oil carrier in four years, after the April launch of new tanker venture.

Two months after launching a tanker-focused spin-off, US-listed owner Toro Corp announced the acquisition of a modern product carrier. The spin-off puts $250m on the shelf for expansion.

Petros Panagiotidis-led Toro said in a statement on Wednesday that it is buying a 2021-built MR unit from an unaffiliated third party for $36.25m. Toro expects to fund the acquisition with cash on hand and the vessel’s delivery is scheduled to take place within 2nd or 3rd quarter of 2025.

Greek Sources highlight big age ‘Challenge’ as Owners of modern tankers sit in pole position. Ship Operators and Charterers need to be aware of changing fleet profile. A rapidly ageing tanker fleet will produce major supply pressure by the end of the decade. The sector is facing ‘significant’ challenge across all size segments.

Despite a robust order book aimed at fleet renewal and expansion, the rapid growth in the number of older vessels is re-shaping the age profile in a manner that warrants close scrutiny by market participants and industry stakeholders.

·        Greek shipowners face lockout from lucrative Russian trade by lower price cap

Doubts raised over impact of price cap cut as tumbling crude prices attract Greek players back to the market

The European Union’s plan to cut the oil price cap for the first time in more than two years will hit Greek operators that have surged back to the market as the global cost of crude has tumbled.

Nine different Greek operators were responsible for 40% of loadings from the key Baltic port of Primorsk over the past month, as falling global oil prices have seen Urals crude average below the $60 a barrel price cap all year.

·        Small chemical tanker deliveries set to hit 16-year high, SSY says

Scrapping should pick up as ‘moderate fleet renewal’ picks up

More small chemical tankers will be delivered this year than any year since the shipbuilding boom of the late aughts, according to figures from SSY.

According to Svitlana Synoha, an analyst at the shipbroking giant, 64 tankers between 6,000dwt and 12,000dwt will hit the water before this year-end, helping the sector cope with shifting trading patterns. “Short- Sea routes have seen reduced activiy due to Chemical plant closures, particularly in Europe and Asia.

·        Jump in Red Sea shipping traffic overblown, third-party data suggests

PortWatch statistics show traffic still stagnating below half its pre-crisis level. Claims by the EU Naval mission in the Red Sea about ship traffic jumping by 60% in the area from an alleged nadir in August 2024 are not borne out by third-party data. The Head of the Aspides Mission, Rear Admiral Vasileios Gryparis, said that up to 37 ships per day were making the transit through the Bab-el-Mandeb strait, up from a low of between 20-23 ships daily in August 2024.

·        Dry Bulk Ship Purchases on the Rise Again.

Ship acquisitions have been on the rise over the course of the past week. Undisclosed Buyers were behind the purchase of the Kamsarmax AOM SOPHIE II 82,000tdw 2020 Japanese built at mid $31 mln. In the Panamax segement IVESTOS 7, 75,000tdw Built 2008 China was sold to Greeks at $9.65 mln. In the Supra segment INCREDIBLE BLUE 57,000tdw Built 2011 China was sold at $11 mln. For comparison last month the IVY ALLIANCE 55,800tdw built 2011 in Japan was sold at $15.6 mln. The SAGAR SHAKTI 58,000tdw Built 2012 at Tsuneishi was sold for $13.9 mln to undisclosed Buyers. In the Container Sector NAVIOS TEMPO 4,249 teu blt 2010 with Jiangsu was sold to Swiss at $380 mln; the H MERCURY 1,781 teu built 2022 at Jiangsu was sold to

Europeans at $34.5 mln. In the CRUDE Sector 2 x MR2 CLEAROCEAN MARIA and CLEAROCEAN MARY 49,999tdw built

2014 were reported sold at $60 mln enbloc.

Baltic Indices 12th June, 2025

Baltic Exchange Index – 12 JUNE 2025 Baltic Exchange Capesize 182 Index

Route    Description                                    Value  Change

=====    ==========================================   ====

C8_182  182000mt Gib/Hamburg transatlantic RV       40,586 + 5765 C9_182  182000mt Cont-Med trip China-Japan          56,750 + 6175 C10_182 182000mt China-Japan transpacific RV       29,605 + 3478 C14_182 182000mt China-Brazil round voyage           31,905 + 2850 C16_182 182000mt Backhaul                             8,563 + 1925

===================================================

C5TC 182 Weighted Timecharter Average               32,590 + 3807

Baltic Exchange Index – 12 JUNE 2025

Baltic Exchange Capesize Index  3555 (+ 459)

Route   Description                           Value($) Change

====== ===================================  =======

C2     160000mt Tubarao to Rotterdam         10.914 + 0.621 C3          160-170000mt Tubarao to Qingdao       26.300 + 1.530 C5          160-170000mt W Australia to Qingdao        10.370 + 0.860 C7     150-160000mt Bolivar to Rotterdam     16.443 + 1.450

C8_14 180000mt Gibraltar-Hamburg T/A RV    35,929 + 5558 C9_14 180000mt Conti/Med Trip China/Japan    52,125 + 5800 C10_14 180000mt China/Japan T/P RV          26,150 + 3268 C14           180000mt China-Brazil RV               27,845 + 2570

C16    180000mt N.China to Skaw-Passero        3875 + 1825 C17           170000mt Saldanha Bay to Qingdao      19.489 + 2.117

==========================================  =======

5TC    Weighted Timecharter Average          29,481 + 3802

Baltic Exchange Panamax 82 Asia Index – 13 June 2025

Route   Description Size (MT)      Value($) Change

=====   ======================     ======== ======

P5_82   S.China one Indo RV         9,761    +278

Baltic Exchange Panamax 82500mt Index 12 JUNE 2025 Baltic Exchange Panamax Index 1,375 (+ 38)

Route Description                        Value ($) Change

====== ================================= ======== P1A_82 Skaw-Gib T/A RV                     12,236 + 400

P2A_82 Skaw-Gib trip HK-SKorea incl Taiwan 19,554 + 354 P3A_82 HK-SKorea incl Taiwan, Pacific/RV 11,017 + 429 P4_82 HK-SKorea incl Taiwan to Skaw-Gib   7,744 +   49 P6_82 Dely Spore Atlantic RV                           12,777 + 309

====== =================================  =======

P5TC   Weighted Timecharter Average       12,376 + 340

The following routes do not contribute to the BPI or Weighted TC Average.

Route Description                        Value ($) Change

====== ================================= ===== P5_82 S. China Indo RV                      9,483 +   389

P7     66000mt Mississippi Rvr to Qingdao 46,800 + 0.257 P8          66000mt Santos to Qingdao           33.829 + 0.350

Baltic Exchange Supramax Index – 12 JUNE 2025 Baltic Exchange Supramax Index 933 (+ 11)

Route   Description                                  Value ($) Change

===============================================  ===
S1B_63Cnkle trip via Med or Blsea to China-S.Korea 12,146 – 96
S1C_63US Gulf trip to China-South Japan            19,218 + 782
BS2_63North China one Australian or Pacific RV    10,419 –   37
BS3_63North China trip to West Africa              10,380 –   20
S4A_63US Gulf trip to Skaw-Passero                 20,764 + 1750
S4B_63Skaw-Passero trip to US Gulf                  8,486 –    3
BS5_63West Africa trip via ECSA to North China13,786 +   86
BS8_63South China trip via Indo to EC.India11,086 – 128
BS9_63W.Africa trip via ECSA to Skaw-Passero12,600 +   79
S10_63S.China trip via Indonesia to South China8,444 –   84
S15_63Indian Ocean trip via S.Africa to Far East  11,138 –    8
===============================================  =====
S11TCWeighted Timecharter Average                11,795 + 145

S10TC   Supramax(58) Timecharter Average             9,761 + 145

Baltic Exchange Supramax Asia Index – 13 June 2025

Route Description                      Value($) Change

====== =============================== =======

S2_63 N.China one Austr or Pac RV    10,413    -6 S8_63 S.China via Indonesia/Ec India  11,036   -50 S10_63 S.China via Indo/S.China       8,325     -119

====== =============================== =======

S3TC   Weighted Time Charter Average  9,988     -52

Baltic Exchange Index – 12 JUNE 2025

Baltic Exchange Handysize Index 603 (+ 2)

Route   Description                                Value ($) Change

====== ========================================  =====

HS1_38 Skaw-Passero trip Recalada – Rio de Janeiro              5,921 +                                                                                          14 HS2_38 Skaw-Passero trip Boston – Galveston                                    8,475 +   11 HS3_38 Rio de Janeiro-Recalada trip Skaw – Passero 16,117 +  34 HS4_38 USGulf trip via USG or NCSA to Skaw-

Passero  14,771 + 328

HS5_38 SE Asia trip to Spore – Japan                10,656 –   44 HS6_38 N.China-S.Kor-Jpn trip to N.China-S.Kor-Jp       10,306 –   57 HS7_38 N.China-S.Kor-Jpn trip to SE Asia                            9,944 –   56

====== ========================================  =====

7TC     Weighted Timecharter Average                10,847 +   22

BALTIC INDICES 12/06/2025

DRY        INDEX:    1904 (+ 166)

CAPESIZE  INDEX:    3555 (+ 459)

PANAMAX   INDEX:    1375 (+   38)

SUPRAMAX  INDEX:     933 (+   11)

HANDYSIZE INDEX:    603 (+    2)

BCI   TC AVG $/DAY 29481 (+ 3802) BPI82 TC AVG $/DAY 12376 (+ 340) BSI         TC AVG $/DAY 11795 (+ 145) BHSI TC AVG $/DAY 10847 (+             22)

TIMECHARTER

‘Radiant’ 2010 87334 dwt dely Taichung 19/20 Jun trip via Newcastle redel Taiwan $10,500 – Norden

‘Osaka Star’ 2016 84947 dwt dely Singapore 11 Jun trip via Indonesia redel Japan $15,000 – Kline

‘HC Pioneer’ 2010 83476 dwt dely Bilbao 15/18 Jun trip via NC South America redel Far east $18,000 – Bunge

‘Great Blossom’ 2024 82781 dwt dely Yantai 11 Jun trip via EC Australia redel Japan $13,000 – cnr

‘Minorca’ 2023 82157 dwt dely retro Singapore 9 Jun trip via EC South America redel Singapore-Japan

$14,000 – Norden

‘Shandong Xin Tai’ 2025 82147 dwt dely Shimuzu 16 Jun trip via NoPac redel India $12,500 intention ferts

‘Alpha Charm’ 2018 82052 dwt dely retro Singapore 31 May trip via EC South America redel Singapore-

Japan $14,000 – Ming Wah

‘Alpha Pride’ 2019 82032 dwt dely Rotterdam 12 Jun trip via NC South America redel Singapore-Japan

$21,000

‘BBG Wuzhou’ 2016 81895 dwt dely retro Singapore 12 Jun trip via EC South America redel Singapore-

Japan $14,000

‘Pan Mutiara’ 2011 81177 dwt dely Ho Ping 13 Jun trip via Newcastle redel S Korea $11,250 – KSC

‘Asia Spring’ 2001 76318 dwt dely Guangzhou 15/16 Jun trip via Indonesia redel China $9,250

‘Iolcos Commander’ 2013 76094 dwt dely retro Haldia 22 May trip via EC South America redel Singapore-

Japan $11,250

‘Theoskepasti S’ 2012 75049 dwt dely retro Singapore 3 Jun trip via EC South America redel Singapore-Japan

$10,200 – Uniwin

‘Coral Gem’ 2010 55073 dwt dely Salalah mid Jun trip Mombasa intention clinker $9,000 – Teambulk

‘Jin Ning 16’ 2000 52067 dwt dely Red Sea 13/14 Jun trip redel Far East intention fertiliser approx $11,000

PERIOD

‘YM Pinnacle’ 2025 63700 dwt dely ex yard Cebu 15 Jun 12 months redel worldwide $13,000

VOYAGES ORE

‘NYK TBN’ 180000/10 Saldanha Bay/Rotterdam 4/13 Jul $9.85 fio 6 total days shinc – TKSE – <11/6 fixture>

‘True Patriot’ 2016 170000/10 Tubarao opt West Africa/Qingdao 7/14 Jul $ 26.25 fio 3 days shinc/30000shinc – cnr – <11/6 fixture>

‘TBN’ 170000/10 Dampier/Qingdao 29 Jun/1 Jul $10.10 fio 90000shinc/30000shinc – Rio Tinto

‘TBN’ 160000/10 Port Hedland/Qingdao 27/29 Jun

$10.10 fio 80000shinc/30000shinc – BHP

‘TBN’ 160000/10 Port Hedland/Qingdao 27/29 Jun

$10.50 fio 80000shinc/30000shinc – FMG

COAL

‘TBN’ 75000/10 DBCT-HPCT-APCT/Visakhapatnam 5/14 Jul $16.35 fio 40000sshex/20000sshex – Sail

‘TBN’ 60000/10 Lyttelton/Mizushima 8/17 Jul $19.45 fio 15000shinc/25000shinc – Trafigura

(c) Baltic Exchange Information Services Ltd., 2025

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