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Saturday, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE


COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued to be firm however towards end of the week the freight market appeared to slow down , the main reason could be due to holidays in most parts of the world.

The BDI ended this week at 2786 with a increase of 242 points. The main reason for increase in BDI is due to increase in Cape Size index which has gone up this week by 852 points and charter hires gone up by US$ 11,000 per day at US$ 45,000 per day .The Panamax went up by 181 point and Supramax by 83 points .

The momentum of Chinese imports of iron ore / coal seemed to be steady and needs to be seen whether this will be maintained over the next few weeks. Understand the Chinese are stocking iron ore and some sources suggest that about 100 million tons of iron ore is piled up at various ports which is enough for several months production.

"The decisive election results in India and formation of a stable government for next 5 years, the Indian market is expected to have a sustained growth"  Vistaar shipping MD Capt. Reddy told to COALspot.com

The spot supramax continued to be firm , however there was slight softening towards end of the week.  The supramax in feast/se Asia were seen being fixed at US$ 15,000/18,000 per day depending on the position for trips to India and Pacific round voyages. 

The monsoons is expected to hit West Coast India early this year and the iron ore shipments will slow down from west coast India.

The week continued to see Ships vessels ballasting to South America / Black sea from India / PG range being  fixed at around US$ 16,000 per day.

The bunker prices continued to remain firm with brent crude at US$ 61 per barrel and the IFO prices ex Singapore touching US$ 357/358 pmt levels. 

The short period (4/6 months) rates for larger supramax is around US$ 15,000 per day in Far east / SE Asia region future. One year period rate for supramax reported at US$ 14,000 per day with delivery India / Feast region.

The forward freight rates for 3/5 months is expected to be around the same as the below indicated spot rates, unless there are some major changes in the global scenario.

The indicative spot freight rates on Supramax as follows:

Coal 

-Indonesia / East Coast India             : US$ 13.00 / 13.50 pmt
-Indonesia / West Coast India            : US$ 16.00 / 16.50 pmt
-Richards Bay / West Coast  India      : US$ 18.00 / 18.50 pmt
-Richards Bay / East Coast  India       : US$ 19.00 / 19.50 pmt
-Queensland / East Coast  India         : US$ 21.50 / 22.00 pmt
 
Iron Ore

-West Coast  India / N.China                : US$ 15.50 / 16.00 pmt
-East Coast  India  / N.China                : US$  14.00 / 14.50 pmt



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