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Monday, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
PanamaxCOALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined while other segments were rose this past week. The BDI was down 5.6% from last week and Cape Index was down 21.95% or around 443 points week over week.

The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global supply and demand for shipping of commodities was reported down 5.6% week over week and ended at 842 points on 21 Oct 2016. The index peaked at 11,793 in May 2008.

The Cape Index was down 21.95% week over week. The BCI closed 1575 points on 21 Oct 2016. The Panamax index (BPI) was up (11.72%)  to 915 points on 21 Oct 2016. The Supramax index (BSI) was also up (3.86%) to 700 points on 21 October 2016, compared to 674 points on 14 October 2016.

Meantime, the handy size index was increased around  3.86% to 427 points for the same period.

According to Vistaar India, the average daily earnings for Supramax, for the route Indonesia to India passing through Singapore, rated at around US$ 8000 per day this past week, while the Panamax vessels rated at around $ 7500-8000 per day delivery South China / Hong Kong range. The Supramax daily rate was done while Panamax rates were up from last week.

The Vistaar India further noted that the spot Cape’s average charter rates were reported at around US$ 9659 per day and Panamax was reported at around US$ 7324per day. This past week’s Cape average charter rate was down while Panamax rate was up compared to previous Friday’s average Charter rates.

The spot Supramax’s average charters rate was at around $ 7320 per day, while the Handy-size ships were at $ 6221 per day. The spot average charter rates for supra and  handy were rose compared to last week’s charter rates.

The futures for three years (2016-2018) for the ships were reported higher than the current spot rates the ships were earning.  The Cape-size ships were at US$ 11,000 per day, the Panamax at US$ 7,500 per day, Supramax at US$ 7,500 per day and Handysize at US$ 6,500 per day. No change from last week’s reported rates.

The Supramax S8 route charter rates slightly up (0.33%) week over week to $6669 per day on Friday 21 October 2016 ($6691 was reported on 14 October 2016).

According to Vistaar the freight rate from Indonesia to India is expected to be steady this week.

The Brent crude oil price was closed at US$ 51.38 per barrel slightly lower than last week's price. The bunker prices were closed at US$ 285.50 pmt (IFO 380 cst ex. Singapore on 21 October 2016).

Baltic Dry Index (BDI) -  DOWN
Cape index (BCI) -  DOWN
Panamax index (BPI) - UP
Supramax index (BSI) - UP
Handy index - UP  
(as of week ended 21 October 2016 (week on week changes)) 

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 information provided by Vistaar Shipping Services (India) Private Ltd , India in this report is provided for information purposes only. No claim is made as the 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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