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Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN


COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness and the market continued to be soft until closing of last week. However the BDI was up on Friday closing at 1806.

The spot supramax demand was quite firm where ships were demanding US$ 15,000/16,000 per day for trips to India and Pacific round voyages. The market for second Half May seems to be weak and charter rates are likely to coming down.

The iron exports from India has been slowing down and ships from India were seeing around US$ 12,000 per day. With the onset of Monsoons the cargoes out of India  will be much less especially West Coast India and this is likely to cause weakness and the market for ships opening WC India and PG region.

Capt. Reddy, MD of Vistaar Singapore,  indicated spot freight rates from Indonesia  to east coast India for coal loading at US$ 10.75 and west coast at US$ 13.50 PMT compare to US$ 15/16 last week to WC India .

The softness reasons could be attributed to coming holidays and golden week in China , however no effect of H1N1 flu yet on the shipping market. Meantime Richards Bay, South Africa to East Coast India at US$ 14.50  and west Coast India at US$ 14.00 pmt for Supramax Loading. Queensland to EC India freights at usd 16 pmt.

Iron Ore loading from India to north China was between US$ 11.50 to 12.50 pmt depending on loading port / loading terms in India.  Capt. Reddy is optimistic about cargo volume in and out to India due to the demand of steam coal and will continue to rise in India with additionally with Pakistan planning to import about 3 million tons of coal this year.



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