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Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR


COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.

The BDI was up by 4.60 pct closed at 933 points and the Cape index was down by 1.15 pct closed at 1284 points. The Panamax index was up by 3.96 pct closed at 1208 points.  The supramax and handy size indices  were also up closing at 978 points (up by 5.73 pct) and 542 points (up by 7.11 pct) respectively.

With the iron ore prices bottoming out the iron ore import is expected to pick with many mills want to rebuild their stocks. The cargoes grain cargoes from South America was keeping the Panamax freight rates firm. The freight rates are expected to be firm / steady next week.

The average charter rates was at Cape / US$ 4,981 per day , Panamax / US$ 9,661 per day , Supramax / US$ 10,266 per day and Handy size / US$ 8,036 per day.

The futures for three years (2013-2015) was at around Cape / US$ 14,000 per day, Panamax,/,US$ 10,000 per day, Supramax,/,US$ 10,000 per day , Handysize,/,US$ 9,000 per day.

The supramax index in the feast (S8 route) was sharply up by 10.01 pct and closed at US$ 10,605 per day (last week US$ 9,640 per day) .The route S7 was also sharply up by 11.59 pct closing at US$ 8,250 per day (Last week US$ 7,393 per day) .  The freight market in this sector is expected to be steady / firm next week.

The Brent crude oil prices softened and was down by 1.96 pct closing at US$ 107.66 per barrel (last week US$ 109.82 per barrel). The bunker prices was lower and closed at US$ 625.00 pmt (IFO 380 cst ex Singapore on 22nd 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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