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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR


COALspot.com:
The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 pct closing at 2194 points. The panamax and Supramax was slightly down by 1.94 pct and 1.65 pct respectively, whereas handy size index was down by 3.56 pct.

Towards the end of the week the market seemed to be firmer with all the futures ending firmer. Chinese iron ore and coal imports are expected to improve towards fourth quarter 2010. The indian coal imports are likely to continue to be strong and will play an important part in keeping the freight market firm.

BDI (Baltic Dry Index Changes)

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
2030
1967
63
3.2
Baltic Cape Index
2194
1922
272
14.15
Baltic Panamax Index
2581
2632
51
-1.94
Baltic Supra Index
1731
1760
29
-1.65
Baltic Handy size Index
974
1010
36
-3.56
As of 6 August 2010
 


The average charter hire was at Cape/$ 18422 per day, Panamax/$ 20733 per day, Supramax/$ 18096 per day and Handysize/$ 14307 per day.

The supramax index in the Fareast (S6 route) was down by $ 540 per day and closed at $ 17631 per day. The ECI/China (S7) route was also increased by $ 1192 per day and closed at $ 18119 per day. The S6 and S7 routes are likely to be steady/firm.

The futures for three years(2010-2012) was firm for cape and panamax vessels and was at around Cape/$ 26000 per day, Panamax/$ 21000 per day, Supramax/$ 18500 per day, Handy size/$ 13500 per day. Short period and one year period rates for Supramax vessels were around $ 20-21000 per day with delivery feast.

The congestion in EC Australian ports was at 124 vessels this week (last week 126 vessels). The vessels waiting at main coal loading ports were at Hay point/6, DBCT/65, Gladstone/5, Abbot Point/3, New Castle/43 vessels, Port Kembla/2 vessels. On the WC Australia iron ore vessels waiting further reduced to 17 vessels (last week 27 vessels).   

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

The Brent crude prices was firm touching above $ 82 per barrel and closed at $ 80.39 per barrel (last week $ 78.24 per barrel). The bunkers prices also firmed up by about $ 20 pmt and prices ex Singapore and was at $ 465.50 pmt (IFO 380 cst ex Singapore) on 6th August 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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Recent News

Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...


Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...


Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...


Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct. The BD ...


Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...


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