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Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY


COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 points, whereas the Cape index was down by 10.52 pct and closed at 1,735 points. The Panamax saw a fairly good gain which was up by 7.59 pct and closed at 1,927 points. The Supramax and Handy size index was down by 6.06 pct and 2.09 pct respectively.

Supramax delivery Far east have been reported fixed around US$ 11000 per day for single trips. Short period rates on Supramax were seen reported around US$ 13000 per day . The freight market is likely to be soft next week. 

The iron imports by China saw slight gains in May and will have to see if they would increase the imports. However is seems that the imports will be almost steady/soft due to high inventories. The coal demand by India and China has been steady and has been supporting with fairly large volume, Capt. Reddy, Director Vistaar Shipping says.

The sale of second hand of ships remained fairly good and prices were holding firm , which seems that some owners are taking advantage of low prices.

The average charter rates was at Cape/US$ 9320 per day , Panamax/US$ 15455 per day , Supramax/US$ 14090 per day and Handy size/US$ 11110 per day.

The Supramax index in the feast (S6 route) was down sharply by 12.96 pct and closed at US$ 11168 per day (last week US$ 12832 per day). The EC India/China (S7 route) also softened by 10.14 pct and closed at US$ 11446 per day (last week US$ 12738 per day) , the main reason could be towards monsoon.  The S6 and S7 routes likely to be soft next week.

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

The congestion in EC Australia increased sharply up and was at 63 vessels this week (last week 49 vessels). The vessels waiting at main coal loading ports were at Hay point/4, DBCT/18, Gladstone/14, Abbot Point/Nil, New Castle/26, Port Kembla/1 vessels. On the WC Australia iron ore vessels waiting also increased to 34 vessels  (last week 32 vessels).

The Brent crude oil prices increased slightly and was up by 2.15 pct and closed at US$ 118.50 per barrel (last week US$ 116.00 per barrel). Bunker prices also firmed up and was at US$ 675.00 pmt (last week US$ 659.00 pmt) for IFO 380 CST ex Singapore on 10th June 2011.

Click here for Vistaar’s forecasts (terms & conditions apply) for spot freight rates for coal & Iron-ore cargo for specific routes (cs)



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Recent News

Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...


Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...


Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...


Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...


Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...


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