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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE


COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sector for all type of vessels. However towards end of the week appeared lose some steam", said Capt. Reddy, MD of Vistaar Shipping, Singaproe.

All other sectors also was up with cape index up by 10.49 pct ,  Panamax /6.84 pct , Supramax/6.84 pct  and Handy size/4.89 pct. The spot market behaved much higher than the index with freight rates from Indonesia to India up by 25-30 pct this week.

BDI (Baltic Dry Index Changes)

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
3921
3354
321
8.90
Baltic Cape Index
4804
4348
456
10.49
Baltic Panamax Index
4340
4062
278
6.84
Baltic Supra Index
3076
2888
 188   
6.50
Baltic Handy size Index
1486
1412
   69   
4.88
As of 14 May 2010


The period activity continued to be strong and Supramax for short period were fixed at almost US$ 30000 per day and one year was seen fixed at around US$ 24000 per day. It appears that the markets peaked this week and some correction expected in the coming weeks.

The average charter hire was at Cape/US$ 49931 per day, Panamax/US$ 3,4901 per day, Supramax/US$ 32,160 per day and Handy size/US$ 21524 per day.

The Supramax index in the Fareast (S6 route) quite firm and was by US$ 3,619 day and closed at US$ 26,964 per day. However the vessel were reported fixed at much higher levels at almost at US$ 28/30,000 per day. The ECI/China (S7) route also firmed up by US$ 1,123 per day and closed at US$ 33,027 per day.

The futures for three years(2010-2012) was at around Cape/US$  31,000 per day, Panamax/US$ 22,500 per day, Supramax/US$ 19,500 per day Handy size/US$ 15,000 per day.

The congestion in EC Australian ports was at 115 vessels this week (last week 113 vessels ). The vessels waiting at main coal loading ports were at Hay point/4, DBCT/66, Gladstone/10, Abbot Point/1, New Castle/31 vessels, Pot Kembla/3 vessels. On the WC Australia iron ore vessels waiting also reduced to 24 vessels (last week 21 vessels). 

The waiting at Indian ports for coal vessels was quite normal around 2/3 days except and congestion situation improved 3/4 days except for Paradip port where berthing delays was high.

The Brent crude prices was almost at same levels as last Friday closed at US$ 78.15 per barrel (last week US$  78.51 per barrel). The  prices of bunkers was also firm during the week however closed at US$ 474.00 pmt (ifo 380 cst ex Singapore) on 14th May 2010.

CLICK HERE for Vistaar’s forecasted (Terms & Conditions Apply) spot freight rates for coal & Iron-ore cargo for specific routes(cs)



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