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Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
PanamaxCOALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week.

The Baltic Exchange, tracking rates for ships carrying dry bulk commodities fell this past week and ending on a negative note week over week. The BDI was down by 8.77% from the last week and Cape Index was down 30.66% or increased 333 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 8.77% week over week and ended at 822 points on 7 July 2017. The index peaked at 11,793 points in May 2008.

The Cape Index was down by 30.66% week over week. The BCI decreased 333 points to 753 on 7 July 2017. The Panamax Index (BPI) was also decreased (2.66%) week over week.

The Supramax index (BSI) was also down 2.92%  this past week to 732 points on 7 July 2017, compared to 754 points on 30 June 2017. The handy size index was up 0.86% and the index was closed at 471 points gained 4 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 firm week over week, owners were rating at around US$ 8000 per day,  while the Panamax vessels rated at around $ 8000 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$ 14000 per day, the Panamax at US$ 10,500 per day, Supramax at US$ 9,500 per day and Handysize at US$ 7,500 per day.

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

The Brent crude oil price was closed at $46.71 per barrel 1.5% lower than the same period last week.

The bunker prices were closed at $300 pmt (IFO 380 CST ex. Singapore on 7 July 2017). IFO 380 Prices fell 0.49% week over week, down1.80% month over month and up 18.11% year on year.


Baltic Dry Index (BDI) - DOWN
Cape index (BCI) -  DOWN
Panamax index (BPI) - DOWN
Supramax index (BSI) - DOWN
Handy index - UP  
(as of week ended  7 July 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 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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