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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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