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Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH


COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.

The BDI was slightly down by 6 points closing at 768 points. The cape index was the only index which was up by 2.33 pct closing at 1621 points . Panamax index was down and did not seem to recover which was down by 8.99 pct closing at 425 points. The supramax and handy size index was down by about 2 pct closing at 830 points and 472 points respectively.

The Supramax freight market from Indonesia to India softened with softening of bunker prices. The charter rates were reported around US$ 10000 delivery SE Asia for trip via Indonesia to India. The panamax charter rates were also soft and the freight rates to India remained soft. The freight rates from Indonesia is expected to be soft next week.

There is lot of uncertainty in the market and overall sentiments are still bearish.

The futures for three years (2012-2015) was at around Cape/US$ 14,500 per day, Panamax/US$ 9,000 per day, Supramax/US$ 10,000 per day , Handy size/US$ 8,500 per day.

The supramax index in the far east (S8 route) was down by 3.51 pct and closed at US$ 7,816  per day (last week US$ 8,100 per day) and S7 route  was also down by 4.56 pct and closed at US$ 4,852 per day (last week US$ 5,084 per day) . Both routes likely to be soft next week. 

The congestion in EC Australia was at 51 vessels this week (last week 55 vessels).  The vessels waiting at main coal loading ports were at Hay point/2, DBCT/4, Gladstone/7, Abbot Point/Nil, New Castle/35, Port Kembla/2 vessels. On the WC Australia iron ore vessels waiting was at 32 vessels (last week 39 vessels).

The Brent crude oil prices was almost at same levels and down by 0.62 pct and closed at US$ 112.17  per barrel (last week  US$ 111.59 per barrel). The bunker prices was almost at same levels and closed at US$ 660.50  (last week US$ 659.00 pmt) for IFO 380 cst ex Singapore on 28th Sept 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

Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped  26,451,565* tons of coal in August 2012, compared to 27.88* mill ...


Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...


Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...


Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...


Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...


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