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Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR


COALspot.com – The freight market has been fairly firm this week except for cape size index.

The BDI was up by 4.64 points closing at 776 points  and the Cape index was down by 6.89 pct closing at 1243 points. The panamax index continued the upward trend maintaining the moment and was up by 13.97 pct closing at 1036 points. The Supramax index also firmed up this week up by 6.14 pct closing at 767 points and the handy size index also was up by 7.83 pct closing at 447 points.

There was good activity of fixtures reported in the panamax segment for short and long period. The freight market from Indonesia to India and China is expected to be steady/firm coming days.

The average charter rates was at Cape/US$ 4236 per day , Panamax/US$ 8281 per day , Supramax/US$ 8170 per day and Handy size/US$ 6670 per day.

The futures for three years (2013-2015) were at around Cape/US$ 13500 per day, Panamax/US$ 9000 per day, Supramax/US$ 9000 per day , Handy size/US$ 8000 per day.

The supramax index in the far east (S8 route) was sharply up by 14.48 pct and closed at 7350 per day(last week US$ 6420 per day) .The route S7 was also sharply up by 17.13 pct closing at US$ 5347 per day (Last week US$ 4565 per day) .  The freight market in this sector is expected to be steady/firm this week.

The Brent crude oil prices softened by 3.24 pct and closed at US$ 110.40 per barrel (last week US$ 114.10  per barrel). The bunker prices was down and closed at US$ 634.00 pmt (IFO 380 cst ex Singapore on 1st March 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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