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Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR


COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, "the Supramax was firm first half of the week and showed softness towards second half of the week".

The BDI and BCI closed lower by 2.53 pct and 4.60 pct respectively. Panamax index also was down by 2.78 pct and closed at 1720 points. The Supramax and Handy size was almost at same levels and change was only about half percent and closed at 1392 point and 788 points respectively.

Supramax delivery Far East have been reported fixed around $14000-15000 per day for single trips. Short period rates on Supramax were seen reported around $15000 per day . The freight market is likely to be soft next week. The coal and iron ore demand by China will have a major affect in the freight market. The coal imports by china had already reduced and seems will be lower.

The average charter rates was at Cape / $6002 per day , Panamax / $13797 per day , Supramax / $14552 per day and Handy size / $11694 per day.

The Supramax index in the feast (S6 route) softened by 0.61 pct (down by $81 per day) and closed at $13455 per day (last week $13536 per day). The EC India/China (S7 route) firmed up slightly and was up by 0.41 pct (up by $55 per day) and closed at $ 13263 per day (last week $13208 per day).  The S6 and S7 routes likely to be soft next week.

The futures for three years (2011-2013) was at around Cape/$15000 per day, Panamax/$14000 per day, Supramax/$13500 per day , Handy size/$10500 per day.

The congestion in EC Australia was at same levels at 42 vessels this week (last week 42 vessels). The vessels waiting at main coal loading ports were at Hay point/Nil, DBCT/18, Gladstone/5, Abbot Point/1, New Castle/13, Port Kembla/8 vessels. On the WC Australia iron ore vessels waiting was at 33 vessels  (last week 32 vessels).

The waiting at Indian ports for coal vessels was quite normal except for Visakhapatnam where waiting was bit high.

The Brent crude oil prices remained volatile and firmed up again this week by 3.53 pct closed at $ 114.01 per barrel (last week $ 110.12 per barrel). Bunker prices also firmed up and closed at $ 639.50 pmt (last week $ 623.50 pmt) for IFO 380 cst ex Singapore on 13th May 2011.

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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