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Sunday, 01 December 13
PANAMAX RATES HAVE REBOUNDED - CAPT. REDDY


COALspot.com: The freight market was quite firm last week with all the indices increased. Cape Index was gained highest this week which supports increase of BDI.

The international dry bulk market ended last week with the Baltic Dry Index (BDI) at 1,821  points, an increase of 338 points of 22.79% from a week ago and the average cape index was up by 29.25 pct for the same period. Capesize rates index rebounded and was closed at 3,089 points and the Panamax index also saw a good gain week ended 29 November. Panamax index was closed  1665 points up by 22.25 percent compared to a week ago. The Supramax and handy size indices were also moved up steadily last few weeks. Supramax was up by 5.88 pct closed at 1,475 and Handy up 4.94 pct and closed at 764 points W-W.

The Supramax charter rates continued to be firm in the far east/SE Asia and the freight rates remained firm from Indonesia to India and China with owners getting a premium for WC India. The demand for Bauxite and nickel ore shipments from Indonesia remained high which keeping the charter rates firm in this region. Ships from EC India were being fixed around US$ 14,000 for trip via Indonesia to China. The charter rates expected to remain firm next week too. The panamax charter rates also firmed up and the Large , Modern and Economical type panamaxes were asking average US$ 13,000 for a trip via Indonesia to India.

The average charter rates was at Cape/US$ 24,611 per day , Panamax/US$ 13,293 per day , Supramax/US$ 15,424 per day and Handy size/US$ 10,870 per day.

The futures for three years (2014-2016) were at around Cape/US$ 18,000 per day, Panamax/US$ 12,000 per day, Supramax/US$ 12,000 per day , Handy size/US$ 9,500 per day.

The Supramax rates in the far east (S8 route) ended this week averaging US$ 15,938 per day (last week it was at US$ 14,920 per day) which was an increase of $1018 (6.82%) from a week ago and charter rates were firm.

In the meantime, the S7 route was at same levels or no changes this week compared to last week. The Supramax rates in the far east (S7 route) ended this week averaging US$ 7,875 per day (last week it was at US$ 7,875 per day).

However, the charter rates from EC India was firm and ships were being fixed around at US$ 13,000 per day for a trip to China. The freight market in this sector is expected to be firm next week too.

The Brent crude oil prices was soft down by 1.22 pct and closed at US$ 109.69 per barrel (last week US$ 111.05 per barrel). The bunker price was also soft and closed at 606.00 pmt (IFO 380 cst ex Singapore on 29th  Nov 2013).

Baltic Dry Index  - UP
Cape index - UP
Panamax index - UP
Supramax index - UP
Handy index: - UP
(as of week ended 29 November 2013 (W-W)) 

Click here for Solym Singapore's forecasts (terms & conditions apply) for spot freight rates for coal & Iron-ore cargo for specific routes (cs)

The information provided by SOLYM Carriers Pte Ltd, Singapore in this report is provided for information purposes only. No claim is made as to accuracy of the content in this report at any time. Solym Carriers Pte Ltd, Singapore and their Group companies or Subsidiaries do not accept any liability to any person or Company for the information provided in this report. No responsibility is taken for any information of services that may appear in this report.



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