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Saturday, 09 May 09
THE WEEK SAW BIT OF HECTIC ACTIVITY IN THE FREIGHT MARKET - VISTAAR SHIPPING


COALspot.com (Singapore) :
VISTAAR Shipping Pte Limited, one of the experienced ship operator in Singapore, said, the week saw bit of hectic activity in the freight market. The BDI ended this week at 2194 which is an increase of 388 points over last one week. There has been quite a good demand for ships out of Indonesia, South America and US Gulf and there has been good amount of cargoes.

The spot supramax demand was quite firm for cargoes out of Indonesia and have been demanding US$ 15,000/17,000 per day for trips to India and Pacific round voyages. The market is expected to continue to be firm over next week. However the market is likely to come off towards end May/early June.

The iron ore exports from India have been steady and supramax ships were being fixed at around usd 13000 per day. The WC India market is expected to weaken second half of May due to monsoons and could see ships ballasting to South Africa / South America.

Vistaar added, the bunker prices had increased substantially and current IFO prices around 350 pmt. This will have a additional impact on the freight. The short period (4/6 months) rates for larger supramax is around US$ 13,000 / 14,000 per day in Feast/ SE Asia region

Vistaar's forecasted indicative spot freight rates on Supramax for next coming weeks as follows:

Coal 
- Indonesia         / East Coast  (EC)  India            : US$ 13 / 13.50 pmt
- Indonesia         / West Coast (WC) India            : US$ 16.50 /17.00 pmt
- Richards Bay   / West Coast (WC) India            : US$ 15.50 pmt
- Richards Bay   / East Coast  (EC)  India            : US$ 16.00 pmt
- Queensland    / East Coast  (EC)  India             : US$ 18 / 18.50 pmt

Iron Ore
 - WC India         / N.China                                       : US$ 13 /13.50 pmt
- EC India           / N.China                                       : US$  12.50 pmt



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