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Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR


COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.

The BDI was marginally up by 3 points closing at 717 points. The Cape and Panamax index was up by about 2.7 pct closing at 1,124 points and 828 points respectively. The supramax index was up by 1.43 pct closing at 853 points. The handy size index continued to be soft and was down by 4.43 pct closing at 474 points.

The Supramax freight market was soft from Indonesia to India and Supramax vessels were trading around US$ 6,000 delivery South China and around US$ 8000 delivery SE Asia  for trip to India. Short Period charter rates for Supramax and Panamax was around US$ 8,000-8,500 per day. The freight rates are expected to be steady next week.

The iron ore demand continues to be weak and compounded with excess tonnage with new deliveries is causing the market to be under pressure.

The average charter rates was at Cape/US$ 2,987 per day , Panamax/US$ 6,586 per day , Supramax/US$ 8,918 per day and Handy size/US$ 6,858 per day.

The futures for three years (2012-2015) was at around Cape/US$ 14,000 per day, Panamax/US$ 10,000 per day, Supramax/US$ 10,500 per day , Handy size/US$ 8,250 per day.

According to Vistaar Shipping Singapore, the supramax index in the far east (S8 route) was down by 3.20 pct and closed at US$ 6,345  per day (last week US$ 6,148 per day) and S7 route  was down by 2.19 pct  and closed at US$ 4,820 per day (last week US$ 4,928 per day) . “Both routes likely to be soft next week”, said, Capt. Reddy, director of Vistaar Shipping.

The congestion in EC Australia was at 76 vessels this week (last week 78 vessels).  The vessels waiting at main coal loading ports were at Hay point/2, DBCT/16, Gladstone/1, Abbot Point/2, New Castle/57, Port Kembla/4 vessels. On the WC Australia iron ore vessels waiting was at 31 vessels (last week 47 vessels).

The Brent crude oil prices was almost at same levels as last week closed at US$ 113.36  per barrel (last week  US$ 113.75 per barrel). The bunker prices was slightly up closed at US$ 677.50  (last week US$ 673.00 pmt) for IFO 380 cst ex Singapore on 24th August 2102.

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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