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Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY


COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had gone up and the charter rates was up. Spot Supramax vessel opening far east were seen getting around  US$  14,000 per day and for short period around US$ 22,000 per day.

Handy size vessels in the far east were seen fixed around US$ 10/11000 per day. The cargoes out of Indonesia were very few and congestion was seen at most of the Indonesian ports. Even in Australia the loading has been affected due to bad weather.

Baltic dry index changes (As of 19 Feb 2010).

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
2714
2571
143 ↑
5.56
Baltic Cape Index
3517
3259
258 ↑
7.92
Baltic Panamax Index
3179
3028
151 ↑
4.98
Baltic Supra Index
2077
2048
 29 ↑
1.42
Baltic Handy size Index
1055
1038
17 ↑
1.64


The average charter hire was at Cape US$  32,918 per day, Panamax US$  25,579 per day, Supramax US$  21,720 per day and Handy size US$  15,441 per day.

The Supramax index in the far east (S6 route) firmed up slightly and was up by US$ 882 per day and closed at  US$ 15,880 per day. Next week expected to go up further.

The ECI/China (S7) route moved up sharply and closed at  US$ 26,950 per day. Ships from WC India to china were seen being fixed at healthy levels at around US$ 35,000 per day. 

Supramax charter rates for one year is around US$ 19,000 per day.

THREE YEARS FUTURE
The futures for three years (2010-2012) remained unchanged and was at around Cape US$  29,000 per day, Panamax US$ 19,000 per day, Supramax US$  16,000 per day, Handy size US$  12,500 per day.

PORT CONGESTION
The congestion at Australian ports in the EC for coal loading continued to be high at 143 vessels (last week 148 vessels). The congestion increased due to bad weather and some shippers declaring force majeure. The number of vessels waiting at DBCT and Newcastle was around 60 vessels. The  waiting at DBCT was around 30 days , Hay point and Gladstone 10-12 days and Newcastle about 16 days. On the WC Australia  iron ore vessels waiting was same as last week at 24 vessels (last week 22 vessels). The waiting at Indian ports for coal vessels was quite normal around 3/4 days.

CRUDE OIL
The crude prices firmed up this week and the Brent crude prices was up by almost US$ 6 per barrel and closed at US$ 78.37 per barrel (last week US$ 72.90 per barrel). The  prices of bunkers also was up at US$ 450 pmts (IFO 380 CST ex Singapore) on 19th Feb 2010.

FREIGHT FORECAST
CLICK HERE for Vistaar’s forecasted (Terms & Conditions Apply) spot freight rates for coal & Iron-ore cargo for specific routes(cs)
VISTAAR SHIPPING, SINGAPORE



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