Saturday, 06 October 12 FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw good gains closing at 1932 points (up by 19.18 pct) and 598 points (up by 40.70 pct) respectively. The Atlantic market seems to be picking up with more cargo orders in the market. However the Supramax and handy size was down closing at 795 points (down by 4.22 pct) and 444 points (down by 5.93 points) respectively.
The Supramax freight market from Indonesia to India was slightly weaker with softening of bunker prices. The charter rates were reported delivery Singapore reported around $ 10000 per day and delivery South China around $ 7000 per day. The Supramax freight expected to be steady next week and the Panamax freights expected to be firm.
"The market is likely to pick after the holidays in China and the freight markets expected to go up,"said, capt. Reddy, director of Vistaar shipping, Singapore. According to Capt, Reddy, the average charter rates were for Cape, Panamax and Supramax at $ 11237 per day , $ 4769 per day , $ 8315 per day respectively and Handysize at$ 6535 per day.
The futures for three years (2012-2015) was at around Cape/$ 15000 per day, Panamax/$ 10000 per day, Supramax/$ 10000 per day , Handysize/$ 8500 per day.
The supramax index in the far east (S8 route) was down by 4.58 pct and closed at $ 7458 per day (last week $ 7816 per day) and S7 route was also down by 6.61 pct and closed at $ 4531 per day (last week $ 4852 per day) . Both routes likely to be steady next week.
The congestion in EC Australia was at 51 vessels this week (last week 55 vessels). The vessels waiting at main coal loading ports were at Hay point/2, DBCT/4, Gladstone/7, Abbot Point/Nil, New Castle/35, Port Kembla/2 vessels. On the WC Australia iron ore vessels waiting was at 37 vessels (last week 32 vessels).
The Brent crude oil prices was almost at same levels and down by 0.33 pct and closed at $ 111.80 per barrel (last week $ 112.17 per barrel). The bunker prices was down also and closed at $ 652.50 (last week $ 660.50 pmt) for IFO 380 cst ex Singapore on 5th Oct 2012.
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COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw good gains closing at 1932 points (up by 19.18 pct) and 598 points (up by 40.70 pct) respectively. The Atlantic market seems to be picking up with more cargo orders in the market. However the Supramax and handy size was down closing at 795 points (down by 4.22 pct) and 444 points (down by 5.93 points) respectively.
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