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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

Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...


Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...


Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index. The BDI was up by 6.87 pct closing at 824 points ...


Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake. The regulation known as ...


Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...


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