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Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE


COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.

The Cape Size and Panamax index also fell by 8.85 pct (closing at 1,298 points) and 17.17 pct (897 points)  respectively. The Supramax and Handysize index fell by 8.50 pct (closing at 1,023 points) and 4.61 points (closing at 621 points) respectively.

The freight market from Indonesia to India was weak and soft.

The spot fixture rates for Supramax in SE Asia remained weak with vessels trading around $ 7000  Indonesia with ballast bonus.  Short period rate for Supramax reported around $ 9500 per day and for Panamax around $ 8500 delivery Far east.

The shipping market is expected to be weak in next coming weeks and at the moment the supply is more than the demand.

The average charter rates was at Cape/$ 4814 per day , Panamax/$ 7138 per day , Supramax/$ 10694 per day and Handysize/$ 9217 per day.

The futures for three years (2012-2015) was at around Cape/$ 14500 per day, Panamax/$ 10500 per day, Supramax/$ 10500 per day , Handysize/$ 9000 per day.

The supramax index in the feast (S8 route) was down by 30.38 pct and closed at $ 4,968  per day (last week it was at $ 7,136 per day) and S7 route  was down by 21.33 pct  and closed at $ 5,550 per day (last week $ 7,055 per day) .

Both routes likely to be soft next week.

The congestion in EC Australia was at 90 vessels this week (last week 78 vessels).  The vessels waiting at main coal loading ports were at Haypoint/6, DBCT/8, Gladstone/11, Abbot Point/3, New Castle/50, Port Kembla/12 vessels. On the WC Australia iron ore vessels waiting was at 31 vessels (last week 34 vessels).

The Brent crude oil prices softened by 7.58 pct closed at $ 98.68 per barrel (last week  $ 106.78 per barrel) and bunkers prices also softened closing at $ 611.00 pmt (last week $ 653.50 pmt) for IFO 380 cst ex Singapore on 1st June 2012.

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, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...


Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...


Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...


Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...


Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...


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