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Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE


COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week. 

The Cape index up by 10.32 pct and Supramax index  was up by 10.47 pct. The Panamax and Handy size was up by 4.34 pct and 6.35 pct respectively. The Supramax opening Fareast seemed to be getting healthy rates and have been reported fixed on time charter around mid/high  20's.The freight rate of coal from Indonesia to India and China was up by almost about 8-10 pct.

BDI (Baltic dry index changes)

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
3506
3242
264
8.14
Baltic Cape Index
4328
3923
405 ↑
10.32
Baltic Panamax Index
4177
4003
174 ↑
4.34
Baltic Supra Index
2731
2472
259 ↑
10.47
Baltic Handy size Index
1338
1258
80 ↑
6.35
As of 12 March 2010


The average charter hire was at Cape US$ 41,877 per day, Panamax US$ 33,587 per day, Supramax US$ 28,561 per day and Handy size US$ 19,558 per day.

The Supramax index in the Fareast (S6 route) was firm and was by US$ 1,860 per day (up by 8.40 pct) and closed at US$ 23,980 per day. The ECI/China (S7) route continued to remain firm and was up by US$ 1,040 per day (up by 2.91 pct) and closed at US$ 36,717 per day.

Ships from WC India to china continued to be fixed at healthy levels at around US$ 38/40,000 per day and some vessels have ballasted from EC India to WC India.

THREE YEARS FUTURE
The futures for three years (2010-2012) was at around Cape US$ 31,000 per day, Panamax US$ 22,500 per day, Supramax US$ 18,500 per day, Handy size US$ 14,500 per day.

There is no indication of slowing down of iron ore  and coal imports by China and market expected to remain firm next few weeks.

PORT CONGESTION
The congestion at Australian ports in the EC for coal loading continued to be on the same at 151 vessels (last week 151 vessels). The weather seems to be improving , however the affect of bad weather previously continues. The number of vessels waiting at DBCT and Newcastle was around 60 vessels. The  waiting at DBCT was around 30 days , Hay point - abt 10 days and Gladstone about 12-16 days and Newcastle about 16 days. On the WC Australia  iron ore vessels waiting was at at 20 vessels (last week 20 vessels). The bad weather continues in Queensland and all four berths were closed for loading at Hay point.

The waiting at Indian ports for coal vessels was quite normal around 3/4 days , except for Paradip and Haldia which are congested. Waiting at Paradip is about 7/8 days. The Indonesian anchorages port also continued to experience delays.

CRUDE OIL
The crude prices was almost at same levels as last week and the Brent crude prices closed at US$ 79.26 per barrel (last week US$  80.11 per barrel). The  prices of bunkers was at US$ 461 pmts (IFO 380 CST ex.Singapore) on 12th March 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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Recent News

Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...


Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press  reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...


Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block. The nation of India. India is emerging as a major re-shaping force for ...


Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...


Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...


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