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Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR


COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.

The Cape index also was down by 5.78 pct closing at 1,223 points. The Panamax was the only sector which was slightly up this week by 1.89 pct closing at 914 points. The Supramax index and Handy size index was also down by 2.25 pct closing at 1,000 points and 607 points respectively.

The freight market from Indonesia to India continued to remain weak. The spot fixture rates for Supramax in SE Asia remained weak with vessels trading around $ 7,000 APS Indonesia with ballast bonus.  Short period rate for Supramax reported around $ 9,500 per day and for Panamax around $ 8,500 delivery Far east.

The freight market expected to remain weak for next few weeks.

The average charter rates was at Cape / $ 4,255 per day , Panamax / $ 7,266 per day , Supramax / $ 10,453 per day and Handy size / $ 8,954 per day.

The futures for three years (2012-2015) was at around Cape/$ 14,500 per day, Panamax / $ 10,500 per day, Supramax / $ 10,500 per day , Handy size / $ 9,000 per day.

The supramax index in the feast (S8 route) was down by 12.80 pct and closed at $ 4,323  per day (last week $ 4,958 per day) and S7 route  was down by 9.87 pct  and closed at $ 5,002 per day (last week $ 5,550 per day) . Both routes likely to be soft next week.

The congestion in EC Australia was at 77 vessels this week (last week 78 vessels).  The vessels waiting at main coal loading ports were at Hay point/4, DBCT/14, Gladstone/11, Abbot Point/2, New Castle/38, Port Kembla / 10 vessels. On the WC Australia iron ore vessels waiting was at 31 vessels (last week 34 vessels).

The Brent crude oil prices almost remained at same levels as last week closing at $ 99.78 per barrel(last week  $ 98.68 per barrel) and bunkers prices softened closing at $ 588.50 pmt (last week $ 611.00 pmt) for IFO 380 CST ex Singapore on 8th 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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