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Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
PanamaxCOALspot.com: The Freight market was continuing to firming up.

The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week over week. The BDI was up by 3.68% from the last week and Cape Index was also up 2.68% or increased around 69 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 up 3.68%  week over week and ended at 1240 points on 24 March 2017. The index peaked at 11,793 points in May 2008.

The Cape Index was up by 2.86% week over week. The BCI closed 2482 points on 24 March 2017. The Panamax index (BPI) was also increased (9.93%) week over week.

The Supramax index (BSI) was up 1.93% to 896 points on 24 March 2017, compared to 879 points on 17 March 2017.

The handy size index was rose 3.54% and the index was closed at 526 points for the same period.

According to Vistaar India, this past week’s daily average earnings for Supramax, for the route Indonesia to India passing through Singapore was stay firm week over week, owners were rating at around US$ 12,000 per day,  while the Panamax vessels rated at around $ 10000 per day delivery Shanghai area.

The futures for three years (2017-2020) for the ships were reported lower than the current spot rates that ships were earning.  The Cape-size ships were at US$ 15000 per day, the Panamax at US$ 11,500 per day, Supramax at US$ 9000 per day and Handy-size at US$ 8000 per day.

The freight rates are expected to be steady to firm this week.

The Brent crude oil price was closed at US$ 50.80 per barrel almost same level from last week. The bunker prices were closed at US$ 289.50 pmt (IFO 380 CST ex. Singapore on 24 March 2017).


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