World News
Rare Positive for Dry Bulk as Safe Bulkers Bags Bumper Charter Deal
New York listed Safe Bulkers, Inc. (Safe Bulkers) [NYSE:SB] Tuesday announced it has entered into a new period time charter for one of its 87,000 dwt Post-Panamax-class vessels - on seemingly particularly good terms for the bulker owner.
The unnamed customer is set to pay a gross daily charter rate of $7,250, less 1.25 percent total commissions, which is significantly more than recent charter rates.
The 30-month charter period starting in April is also notably long for the current market conditions, with Baltic Exchange data indicating recent deals have not exceeded 18 months.
The vessel to be chartered was also not named, but Safe Bulkers owns six 87,000 dwt vessels - MV Stalo, MV Marina, MV Xenia, MV Sophia, MV Eleni, MV Martine, and MV Andreas K - that were all built between 2006 and 2009, data from VesselsValue.com shows.
With dry bulk going through what has been called its worst crisis in living memory, today's news is a rare positive the for beleaguered sector.
Also today, the Baltic Dry Index fell yet again to a new record low of 363.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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