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Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR


COALspot.com:
The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.

The Cape and Panamax index was almost down by 13 pct and closed at 4,019 points and 3,394 points respectively. However the Supramax index and the handy size index was almost at same levels with hardly any change and closed at 2,046 points and 1,078 points respectively.

The iron ore prices was under pressure, with no signs of demand from China. Also there is news that the steel mills in china would be reducing the production by 20/30 pct which would further mean that the iron ore demand would be weak.

DRY INDEX CHANGES

 
BALTIC DRY INDEX CHANGE
 
 
This week
Last week
Change
Change %
 
 Baltic Dry Index
2676
2995
319
¯
10.65
 
 Baltic Cape Index
3481
4019
538
¯
13.39
 
 Baltic Panamax Index
2928
3394
466
¯
13.73
 
 Baltic Supra Index
2012
2046
34
¯
1.66
 
 Baltic Handy size Index
1085
1078
7
0.65
 
As of 17 September 2010

The freight market was under pressure close of the week and seems will continue to same next week also.

The average charter hire was at Cape / US$ 33,812 per day, Panamax / US$ 23,525 per day, Supramax / US$ 21,041 per day and Handy size / US$ 15,694 per day.

The Supramax index in the Far East (S6 route) was down by  US$ 280 per day (down by 1.4 pct ) and closed at US$ 19,395 per day. The  ECI / China (S7) route was down by US$ 225 per day (down by 1.22 pct) and closed at US$ 18,123 per day . The S6 and S7 routes seems will be under pressure next week also.

The futures for three years (2010-2012) was almost at same levels and was around Cape/US$ 27,000 per day, Panamax,/,US$ 21,000 per day, Supramax,/,US$ 18,500 per day, Handy size / US$ 14,000 per day.

The congestion in EC Australian ports increased to 102 vessels this week (last week 93 vessels ). The vessels waiting at main coal loading ports were at Hay point/5, DBCT/40, Gladstone/7, Abbot Point/3, New Castle/44, Port Kembla/3 vessels. On the WC Australia iron ore vessels waiting was slightly down to 30 vessels (last week 33 vessels).   

The waiting at Indian ports for coal vessels was quite normal around 3/4 days, except that the congestion at Haldia continued to be high with almost 15 days berthing delays for iron ore vessels.

The Brent crude prices was almost at same levels and was at US$ 78.08 per barrel (last week US$ 78.22 per barrel ). The bunkers prices was almost around same levels ex Singapore and was at US$ 443.50 pmt (ifo 380 cst ex Singapore) on 17th Sept 2010.

Click here for Vistaar’s forecasted (Terms & Conditions Apply) spot freight rates for coal & Iron-ore cargo for specific routes(cs)
Reported by Vistaar Shipping, Singapore

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