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Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
PanamaxCOALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.

The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week and ending on a negative note week over week. The BDI was down by 10.07% from the last week and Cape Index down 13.64% or decreased 217 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 decreased 10.07%  week over week and ended at 820 points on 2 June  2017. The index peaked at 11,793 points in May 2008.

The Cape Index fall for a third straight week this past week. The Cape Index was down by 13.64% week over week. The BCI declined 217 points to 1374 on 2 June 2017. The Panamax Index (BPI) was also decreased (6.27%) for the same period.

The Supramax index (BSI) declined slightly 6.52% to 674 points on 2 June 2017, compared to 721 points on 28 May 2017. The handy size index was also declined 4.9% and the index was closed at 446 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 has stayed a flat/weak week over week, owners were rating at around US$ 8000 per day,  while the Panamax vessels rated at around $ 6500 per day delivery Shanghai area. The rating was significantly less compared to a few weeks ago rates.

Vistaar further noted that the futures for three years (2017-2020) for the ships were reported slightly higher than the current spot rates that ships were earning. The Cape-size ships were at US$ 15,000 per day, the Panamax at US$ 10,000 per day, Supramax at US$ 9,500 per day and Handysize at US$ 8,000 per day.

The freight rates are expected to be flat to soft this week, says Vistaar India.

The Brent crude oil price was closed at $49.95 per barrel 4.22 % lesser than the same period last week.

The bunker prices were closed at $303.50 pmt (IFO 380 CST ex. Singapore on 2 June 2017). The IFO 380 bunker price decline 2.88 percent week over week and 12.28 percent Year to Date. The IFO 380 bunker price has increased 19.96% compared to same period last year (1 June 2016).

Baltic Dry Index (BDI) - DOWN
Cape Index (BCI) -  DOWN
Panamax Index (BPI) - 
DOWN
Supramax Index (BSI) - DOWN
Handy Index - DOWN  
(as of week ended 2 June 2017 (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)

Disclaimer:
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 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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