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Saturday, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING


COALspot.com (Singapore):
The freight market continued to soften this week probably in anticipation of Chinese New year holidays.


BDI INDEX
The BDI dropped by 356 points by 11 pct and closed at 2,848 points. The cape index dropped by 667 points by 16 pct and closed at 3,494 points. Panamax index dropped by 241 points by 6 pct and closed at 3,420 points. The Supramax index dropped by 178 points by 7 pct and closed at 2,271 points. The handy size index dropped by 47 points by about 4 pct and closed at 1,163 points.


CHARTER HIRE
The average charter hire was at Cape US$ 32,182 per day, Panamax US$ 27,499 per day, Supramax US$ 23,741 per day and Handy size US$ 16,953 per day.


 

"The futures for three years was at around Panamax $ 19,000, Supramax $ 16,500 and Handy size $ 12,500 per day" – Vistaar Singapore

The Supramax index in the far east (S6 route) continued to softened and was down by US$ 2,140 per day and closed at US$ 17,920 per day. It seems that next week also would continue to soften because of Chinese new year holidays approaching.

The ECI / China (S7) route softened by US$ 5,736 per day and closed at US$ 27,360 per day. Short period rates for Supramax was around US$ 21 / 22,000 per day for vessels opening Far east / SE Asia.  Supramax charter rates for one year is around US$ 19 / 20,000 per day.


THREE YEARS FUTURE
The futures for three years (2010 - 2012) was at around Cape US$ 30,000 per day, Panamax US$ 19,000 per day, Supramax US$ 16,500 per day and Handy size US$ 12,500 per day.


Some analysts expect that the iron ore movement will touch about 1 billion tons this year. Last year the iron ore movement was at 905 million tons. China would be importing almost 65 pct of the global iron ore. The import of coal is expected to increase .

PORT CONGESTION
The congestion at Australian ports in the EC for coal loading was at 137 vessels (last week 139 vessels). The  waiting at DBCT was around 30 days , Hay point and Gladstone 7-10 days and Newcastle about 16 days. On the WC Australia  iron ore vessels waiting was at 25 vessels (last week 30 vessels). The waiting at Indian ports for coal vessels was quite normal around 3/4 days.


CRUDE
The crude prices continued to be soft and the Brent crude prices was at US$ 71.31 per barrel (last week US$ 72.45 per barrel). The  prices of bunkers softened to US$ 460 pmts (IFO 380 cst ex Singapore) on 29th Jan 2010.

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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