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Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY


COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (down by 3.38 pct).

However the Panamax index was up by 3.62 pct closing at 1,775 points. The Supramax and handy size index closed lower this week and was down by 3.00 pct closing at 1,193 points  and 2.32 pct respectively closing at 588 points respectively.

"The freight market seems to have almost bottomed out and may remain steady at these levels," said Capt. reddy, Director of Vistaar Shipping SIngapore..

Supramax delivery N. China for trips via Indonesia were reported around $ 7,000 per day. Short Period charter rates for Panamax and Supramax was around $ 12,500 per day.

The average charter rates was at Cape/$ 31,480 per day , Panamax/$ 14,183 per day , Supramax/$ 12,476 per day and Handy size/$ 8,425 per day.

The Supramax index in the feast (S6 route) was down by 0.89 pct and closed at $ 6,565 per day (last week $ 6,624 per day). The EC India/China (S7 route) was also down by 0.25 pct and closed at $ 6,783 per day (last week $ 6,800 per day). The S6 and S7 route likely to remain soft next week.

The futures for three years (2011-2013) was at around Cape/$ 17,500 per day, Panamax/$ 13,000 per day, Supramax/$ 12,500 per day , Handy size/$ 9,500 per day.

The congestion in EC Australia decreased to 117 vessels this week (last week 122 vessels). The vessels waiting at main coal loading ports were at Hay point/5, DBCT/15, Gladstone/11, Abbot Point/4, New Castle/70, Port Kembla/9 vessels. On the WC Australia iron ore vessels waiting slightly increased to 34 vessels  (last week 27 vessels).

The Brent crude oil prices was down by 4.64 pct and closed at $ 103.83  per barrel (last week $ 108.88 per barrel).  Bunker prices was also soft and closed at $ 647.50 pmt (last week $ 650.50 pmt) for IFO 380 CST ex.Singapore on 16th Dec 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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Saturday, 31 December 11
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