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Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR


COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI, BCI started to fall down.  Overall there were gains with BDI up by 5.40 pct and closing at 1541 points also the Cape index was up by 5.68 pct and closed at 2346 points.

Panamax index was up by only 2.66 pct and closed at 1651 points, whereas Supramax index was up by 3.66 pct and closed at 1387 points. The handy size index also was up by about 3 pct and closed at 667 points.

"Due to major holidays in Indonesia, the shipments may start only after 3rd September", said Capt. Reddy, MD of Vistaar Shipping.

"There will be quite few shipments booked in September and October, and the demand for vessels will be expected to high during Sept & Oct and freight market also could be firm", he furher said.

According to Vistaar shipping singapore, the average charter rates are at Cape/US$ 16,716 per day , Panamax/US$ 13,214 per day , Supramax/US$ 14,508 per day and Handy size/US$ 9,870 per day.

The Supramax index in the feast (S6 route) was up by 6.82 pct and closed at US$ 12,673 per day (last week US$ 11,864 per day). The EC India/China (S7 route) was also up by 3.05 pct and closed at US$ 11,215 per day (last week US$ 10,883 per day). The S6 and S7 routes likely to be firm  next week.

The futures for three years (2011-2013) was at around Cape/US$ 15,000 per day, Panamax/US$ 13,500 per day, Supramax/US$ 13,500 per day , Handy size/US$ 10250 per day.

The congestion in EC Australia increased to 73 vessels this week (last week 80 vessels). The vessels waiting at main coal loading ports were at Waypoint/9, DBCT/16, Gladstone/13, Abbot Point/Nil, New Castle/30, Port Kembla/5 vessels. On the WC Australia Iron ore vessels waited increased to 29 vessels  (last week 42 vessels).

Waiting at Indian ports were normal about 2/3 days except for Vizag, Kandla and Paradip  where, waiting was around 7-10 days.

The Brent crude oil prices slightly up by 1.87 pct and closed at US$ 111.07 per barrel (last week US$ 109.03 per barrel). Bunker prices remained at same levels as last week and closed at US$ 659.00 pmt (last week US$ 636.50 pmt) for IFO 380 CST ex-Singapore on 26th August 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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Tuesday, 09 August 11
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Monday, 08 August 11
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