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Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR


COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD of Vistaar Shipping Singapore. Vistaar Shipping an experienced ship operator operating from Singapore and India .

The Cape index softened by 18.62 pct and the BDI was down by 3.62 pct. The Panamax index was up by 4.00 pct , Supramax index up by 7.25 pct and Handy size index up by 9.71 pct. The Fareast /SE Asia market was quite firm and vessels for being fixed at around US$ 29/30000 per day. The Supramax out of India also were being fixed in excess of US$  40000 per day.

BDI (Baltic dry index changes)

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
3379
3506
127¯
3.62
Baltic Cape Index
3522
4328
806 ¯
18.62
Baltic Panamax Index
4344
4177
167
3.99
Baltic Supra Index
2929
2731
198
7.25
Baltic Handy size Index
1468
1338
130
9.71
As of 19 March 2010



According to Vistaar, the average charter hire was at Cape US$  32157 per day, Panamax US$  34906 per day, Supramax US$  30629 per day and Handy size US$  21420 per day.

The Supramax index in the Fareast (S6 route) was firm and was by US$ 1860 per day (up by 8.40 pct) and closed at US$ 23980 per day. The ECI/China (S7) route continued to remain firm and was up by US$ 1040 per day (up by 2.91 pct) and closed at US$ 36717 per day. Ships from WC India to china continued to be fixed at healthy levels at around US$ 38/40000 per day and some vessels have ballasted from EC India to WC India.

The futures for three years (2010-2012) was at around Cape US$ 29000 per day, Panamax US$ 22000 per day, Supramax US$  18750 per day, Handy size US$ 14500 per day. With the cape index down by 18 pct and futures also showing slight softness on all other the market may be steady next week. However do not expect the market to soften or major changes on the Supramax and Handy size for next couple of weeks.

The congestion at Australian ports in the EC for coal loading was high at 158 vessels (last week 151 vessels). The weather seems getting worse, with Hay point closed since 11th March and DBCT since 17th March and several shippers declaring Force Majaure for ships loading from Gladstone. Except for Abbot Point and Port Kembla , all other ports are experiencing uncertain delays. On the WC Australia iron ore vessels waiting increased to 27 vessels (last week 20 vessels).

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.

The crude prices was up beginning of the week however closed almost at same levels by end of the week on Friday at US$ 79.79 per barrel (last week US$ 79.26 per barrel). The  prices of bunkers was slightly soft at US$ 456 pmts (ifo 380 cst ex Singapore) on 19th March 2010.

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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