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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR


COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Supramax and Handysize softened only about 4-6 pct.

BDI INDEX
The BDI dropped by about 9 pct by 321 points and closed at 3,258 points. Seems that next week also the softening would continue mainly due to holidays.  The index closed this week at Cape 4,566 points, Panamax 3,448 points, Supramax 2,322 points and Handysize 1,199 points.

The average charter hire was at Cape US$ 45,458 per day, Panamax US$ 27,674 per day, Supramax US$ 24,274 per day and Handysize US$ 17,432 per day.

The supramax index in the Far East (S6 route) softened by almost US$ 4,000 this week and was at US$ 19,600 per day. The ECI / China (S7) route was holding firm at US$ 26,133 per day .

Short period rates for Supramax was at US$ 21,000 per day for vessels opening Far East / SE Asia. Supramax charter rates for one year is around US$ 18000 per day.

3 YEARS FUTURES
The futures for three years (2010 - 2012) firmed up compared to last week and was at around Cape US$ 28,000 per day, Panamax US$ 17,000 per day, Supramax US$ 15,000 per day and Handysize US$ 11,500 per day.

The market is likely to be soft next week especially in the Far East / SE Asia sector.

The iron ore demand seems to be holding firm, however with the market soft on the feast sector it appears that the coal movement has reduced. Next two weeks the market may remain soft due to Christmas / New Year holidays.

PORT CONGESTIONS
The congestion at Australian ports in the EC for coal loading increased to 138 vessels, with maximum waiting at DBCT about 30 days and Newcastle about 20 days. On the WC Australia  iron ore vessels waiting were around 20.

The waiting at Indian ports for coal vessels was around 6 / 7 days.

CRUDE OIL
The brent crude prices moved up to US$73.90 per barrel. The bunker prices during the week was soft and was as low as US$ 445 pmt (IFO 380 cst) ex singapore, however by Friday the prices moved up and was at US$ 464 pmt (IFO 380 cst) ex Singapore.

FREIGHT FORECAST
Click here for Vistaar’s forecasted (subject to terms & conditions) spot freight rates for coal & Iron-ore cargo for specific routes(cs)



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