COALspot.com: The Freight market incline this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week over week.
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 3.54% from the last week and Cape Index up 4.66% or increased 64 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 increased 3.54% week over week and ended at 849 points on 9 June 2017. The index peaked at 11,793 points in May 2008.
The Cape Index was up by 4.66% week over week. The BCI increased 64 points to 1438 on 9 June 2017. The Panamax Index (BPI) was also increased (2.65%) week over week.
However, the Supramax index (BSI) was continually declining and the index was down 2.97% this past week to 654 points on 9 June 2017, compared to 674 points on 2 June 2017. The handy size index was also declined 4.71% and the index was closed at 425 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 flat/firm 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.
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$ 11,000 per day, Supramax at US$ 9,500 per day and Handysize at US$ 8,000 per day.
The freight rates are expected to be steady this week, says Vistaar India.
The Brent crude oil price was closed at $48.15 per barrel 3.60 % lower than the same period last week.
The bunker prices were closed at $305.50 pmt (IFO 380 CST ex. Singapore on 9 June 2017). The IFO 380 bunker price rose 0.65 percent week over week while fell 11.70 percent Year to Date. The IFO 380 bunker price has increased 22.69% compared to same period last year (9 June 2016).
Baltic Dry Index (BDI) - UP
Cape index (BCI) - UP
Panamax index (BPI) - UP
Supramax index (BSI) - DOWN
Handy index - DOWN
(as of week ended 9 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.
