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Handys on a crest

Handys on a crest

Hong Kong: The past week has seen a rash of handysize ships ordered across China, where yards are managing to slot many owners in for 2009 deliveries. The latest Fearnleys market report notes it was 'another hectic week in the dry bulk market'. The Norwegian broker counted 16 firm orders for handysizes in the past week and another six on option. Among owners who have bagged precious 2009 slots are STX Pan Ocean at Nantong and Trans Pacific Carriers at Samjin and Najing Dogzhe. On top of this the handymax sector saw 10 ships ordered, primarily in China.
Owners' confidence to order has no doubt been bolstered by the bullish sentiment in the handy charter sector where ships are trading at higher prices often their larger panamax cousins. 'The market is very bullish again,' Fearnleys noted. The rates started to go up quickly , especially in the Atlantic . The leading USG/Continent route is now close to US$63,000, almost US$3,000 more than 8 days ago. [18/07/07]

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