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Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY


COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, Director Vistaar Shipping, Singapore.  The BDI started to fall from 26th May 2010 when it was at 4,209 points and reached 1,720 points on 15th July 2010 , which is almost a drop of 60 pct.

However, seems that the market is recovering finally and all sectors have move up.

BDI (Baltic Dry Index Changes)

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
1826
1720
106
6.16
Baltic Cape Index
1708
1676
32
1.91
Baltic Panamax Index
2362
2092
270
12.91
Baltic Supra Index
1745
1669
76 ↑
4.55
Baltic Handy size Index
978
994
34 ↑
3.60
As of 23 July 2010


The cape index recovered by about 2 pct and was at 1708 points , whereas the Panamax index saw a healthy rise of about 13 pct and closed at 2,362 points. The Supramax and Handy size also increased by 4.55 pct and 3.60 pct respectively. The market seems to be recovering and seems likely to go up for next few weeks.

The futures rates was also at healthy levels and there was significant increase especially for Q4 2010. The pressure on iron ore out of India was still there , but there were signs of slight improvement compared to last week.

The average charter hire was at Cape/$ 12,755 per day, Panamax/$ 18,997 per day, Supramax/$ 18,250 per day and Handy size/$ 14,349 per day.

The Supramax index in the Fareast (S6 route) was up by $ 1,067 per day and closed at $ 17,877 per day. The  ECI/China (S7) route also increased by  $ 1,062 per day and closed at $ 16,227 per day . The S6 and S7 routes is expected to improve and remain firm next week.

The futures for three years (2010-2012) was at around Cape/$ 24,000 per day, Panamax/$ 19,500 per day, Supramax/$ 18,000 per day, Handy size/$ 13,500 per day. Short period and one year period rates for Supramax vessels was around $ 20,000 per day with delivery feast.

The congestion in EC Australian ports was at 123 vessels this week (last week 121 vessels ). The vessels waiting at main coal loading ports were at Hay point/8, DBCT/58, Gladstone/3, Abbot Point/nil, New Castle/54 vessels, Port Kembla/nil vessel. On the WC Australia iron ore vessels waiting increased to 33 vessels (last week 31 vessels).   

The waiting at Indian ports for coal vessels was quite normal around 3/4 days.

The Brent crude prices was sharply up at $ 77.57 per barrel (last week $ 75.20 per barrel). The bunker prices also firmed up and IFO ex Singapore and was at $ 450.50 pmt (ifo 380 cst ex Singapore) on 23rd July 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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