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Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY


COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct)  mainly due to drop in the Panamax index by almost 10 pct.

The Cape index  was almost steady up by 0.97 pct closing at 1,246 points. The Panamax saw the big drop of 9.53 pct closing at 1,082 points. The Supramax and Handy size index was almost at same levels closing at 900 points (down by 0.22 points) and 545 points (up by 1.11 pct ) respectively.

The charter rates for Indonesia to India was steady/firm and the Supramax rates are likely to hold for next week also. However the Panamax freight could be soft next week.

The average charter rates was at Cape/US$ 4,602 per day , Panamax/US$ 8,644 per day , Supramax/US$ 9,409 per day and Handy size/US$ 8,051 per day.

The futures for three years (2013-2015) was at around Cape/US$ 14,000 per day, Panamax/US$ 10,000 per day, Supramax/US$ 10,000 per day , Handy size/US$ 9,000 per day.

The supramax index in the feast (S8 route) was up by 3.44 pct and closed at 8,890 per day (last week US$ 8,594 per day) .The route S7 was at same levels closing at US$ 7,875 per day (Last week US$ 7,875 per day) .  The freight market in this sector is expected to be steady/firm this week.

The Brent crude oil prices was up by 3.52 pct closing at US$ 103.16 per barrel (last week US$ 99.65 per barrel). The bunker prices was also lower closing at same levels and closed at US$ 614.00 pmt (IFO 380 cst ex Singapore on 26th April 2013).

Baltic Dry Index : Down
Cape index: Up
Panamax index : Down
Supramax index: Down
( as of 26 April 2013)

Click here for Vistaar’s forecasts (terms & conditions apply) for spot freight rates for coal & Iron-ore cargo for specific routes (cs)



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