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Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY


COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which is the main reason for jump in BDI.

The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct and closed at 3210 points increase of 1016 point last week, which is the main reason for jump in BDI. The panamax and Supramax was also up by about 11 pct and 6 pct respectively. The handy size index was up by 4.11 pct.

"The market is expected to remain firm for next couple of weeks, as the iron ore movement is likely to increase', says Capt. Reddy, Director of Vistaar Shipping Singapore, an experienced ship operator in Singapore and India.

He further said, "The steam coal import by India and China is also likely to be strong and would keep the freight market stable/firm".

BALTIC DRY INDEX CHANGES

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
2468
2030
438
21.58
Baltic Cape Index
3210
2194
1016
46.31
Baltic Panamax Index
2864
2581
283
10.96
Baltic Supra Index
1831
1731
100
5.78
Baltic Handy size Index
1014
974
40
4.11
As of 13 August 2010


“The steam coal import by India and China is also like to keep the freight market stable”, he further added.

The average charter hire was at Cape/$ 29956 per day, Panamax/$ 23013 per day, Supramax/$ 19149 per day and Handy size/$ 14882 per day.

The Supramax index in the Fareast (S6 route) was up by $ 669 per day and closed at $ 18300 per day. The  ECI/China (S7) route also increased by  $ 543 per day and closed at $ 18662 per day . The S6 and S7 routes likely to be steady/firm.

The futures for three years (2010-2012) was firm for cape and panamax vessels and was at around Cape/$ 27000 per day, Panamax/$ 21000 per day, Supramax/$ 18500 per day and Handy size/$ 14000 per day.

Short period and one year period rates for Supramax vessels was around $ 21000 per day with delivery far east.

The congestion in EC Australian ports was at 127 vessels this week (last week 124 vessels ). The vessels waiting at main coal loading ports were at Hay point/10, DBCT/60, Gladstone/4, Abbot Point/5, New Castle/41 vessels, Port Kembla/2 vessels. On the WC Australia iron ore vessels waiting further reduced to 19 vessels (last week 17 vessels).  

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

The Brent crude prices was down and closed at $ 75.33 per barrel(last week $ 80.39 per barrel). The bunkers prices softened and the prices ex Singapore and was at $ 444.50 pmt (ifo 380 cst ex Singapore) on 13th 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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