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Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY


COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.

The BDI was slightly down by 0.27 pct ad closed at 748 points. However the cape and panamax indices were slightly up and closed at 1461 points (up by 0.48 pct) and 723 points (up by 8.89 points) respectively. The Supramax and handy size indices closed at 669 points (down by 1.91 pct) and 421 points (down by 6.24 pct) respectively. The freight market expected to be soft to flat next week with expected less activity due to Chinese New year holidays.

The freight rates from Indonesia to India was soft and ships were being fixed at around US$ 7000 + ballast bonus US$ 70,000 arrival Kalimantan. However the bunker prices have been firming up and is around US$ 660 pmt (380 cst) which is keeping the freight rates firm.

The iron ore demand seems to be good and the prices holding up with indication that cape and panama index remaining positive. The coal demand from India seems to have picked up and likely to be firm coming weeks.

The average charter rates was at Cape / US$ 7,344 per day , Panamax / US$ 5,748 per day , Supramax / US$ 6,995 per day and Handy size / US$ 6,281 per day.

The futures for three years (2013-2015) was at around Cape / US$ 13,500 per day, Panamax / US$ 8,500 per day, Supramax / US$ 9,250 per day and Handy size/US$ 8,000 per day.

The supramax index in the far east (S8 route) was soft and fell 3.07 pct closing at US$ 5,743 per day (last week US$ 5,925 per day) .The route S7 was also fell 1.38 pct closing at US$ 3,933 per day (Last week US$ 3,988 per day) .  The freight market in this sector is expected to be steady / soft  this week.

The congestion in EC Australia was at 79 vessels this week (last week 85 vessels).  The vessels waiting at main coal loading ports were at Hay point / 4, DBCT / 11, Gladstone / 36, Abbot Point / 1, New Castle / 19, Port Kembla / 8 vessels.

The Brent crude oil prices was slightly up by 3.07 pct and closed at US$ 118.90 per barrel (last week US$ 116.76  per barrel). The bunker prices was up by almost US$ 20 pmt and closed at US$ 660.50 pmt (IFO 380 cst ex Singapore on 8th  Feb 2013).

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, 09 June 13
IRON ORE DEMAND: WEAK; COAL MOVEMENT: STEADY TO INDIA AND CHINA - CAPT. REDDY
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Friday, 07 June 13
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Friday, 07 June 13
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Thursday, 06 June 13
WE ARE SEEING SOME FRESH INDO COAL TO CHINA AND INDIA - FEARNRESEARCH
Handy In the Atlantic, the Gulf remains firm for the next week with a few orders in the market. The Supramaxes are seeing around low 20k for fronth ...


Wednesday, 05 June 13
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