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Monday, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING


COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape index was also lost 17.22 pct for the same period and index was closed at 1514 points on last Friday. However, the Panamax index was almost steady and it was slightly up by 3.81 pct closing at 898 points. The supramax index and handy size index was almost at same levels closing at 909 points and 506 points respectively.

In the Far East/SE Asia the charter rates on supramax was steady and most vessels were rating around US$ 14000 per day passing Singapore, but charterers were rating lower. Panamax rates was also continued to be soft with owners rating around US$ 8000 per day delivery South China.  Freight rates expected to be steady/firm next week. With the iron ore demand still soft the freight market is expected to remain soft. The average charter rates was at Cape/US$ 10998 per day , Panamax/US$ 7207 per day, Supramax/US$ 9500 per day and Handysize/US$ 7514 per day.

The futures for the three years (2015-2017) were at around Cape/US$ 22,000 per day, Panamax/US$ 12,500 per day, Supramax/US$ 12,500 per day, Handy size/US$ 10,000 per day.

The route S8 route was flat to slightly firm or almost at same levels closing at US$ 9,739 per day (last week US$ 9,725 per day). Freight rates from Indonesia to India are expected to be firm this week.

The Brent crude oil prices was soft and closed slightly lower at US$ 107.89 per barrel (last week US$ 108.59 per barrel). The bunker prices was also soft and closed at 589.00 pmt (IFO 380 cst ex Singapore on 9th May 2014).

Baltic Dry Index  - DOWN
Cape index - DOWN
Panamax index - UP
Supramax index - DOWN
Handy index: - DOWN
(as of week ended 9 May 2014 (week on week))

Click here
for Vistaar Shipping Services (India) Private Ltd forecasts (subject to terms, conditions & Disclaimer clauses) for spot freight rates for coal & Iron-ore cargo for specific routes (cs)

The freight forecasts and information provided by Vistaar Shipping Services (India) Private Ltd , India in this report (including suprmax & Panamax freight forecasts) is provided for information purposes only. No claim is made as to accuracy of the content in this report at any time. Vistaar Shipping Services (India) Private Ltd, 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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