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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 which dropped by 1.29 pct.

Lack of capsize activity over last 2 weeks due to iron ore price negotiations seems to be the main reason. The average T/C of capsize has dropped to US$ 28,542 per day. The Panamax and Supramax dropped by 8.72 pct and 9.63 pct respectively. Ships opening Fareast seem to be struggling for cargoes. However Supramax vessel opening in South East Asia were seen fixed at US$ 30,000/32,000 per day  for Indonesia/India for 2 Laden legs, where as for single trips they have been fixed at around 21/22,000 per day. 

BDI (Baltic dry index changes)

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
3098
3379
282¯
8.32
Baltic Cape Index
3244
3522
278 ¯
7.89
Baltic Panamax Index
4965
4344
379 ¯
8.72
Baltic Supra Index
22647
2929
282¯
9.63
Baltic Handy size Index
1449
1468
19 ¯
1.29
As of 26 March 2010

“The Supramax out of WC India was very firm and ships were fixed at US$ 50,000 per day”, said Capt. Reddy, MD of Vistaar Shipping, Singapore.

The average charter hire was at Cape US$ 28,542 per day, Panamax US$ 31,872 per day, Supramax US$ 27,677 per day and Handy size US$ 21,111 per day.

The Supramax index in the Fareast (S6 route) softened by US$  4,370 per day (down by 15.39pct) and closed at US$  24,010 per day. The ECI/China (S7) route also softened a bit by US$ 1,985 per day (down by 5.06 pct) and closed at US$  37,213 per day.

Ships from WC India to china continued to be fixed at healthy levels at around US$  50/52,000 per day .

The futures for three years (2010-2012) was at around Cape US$  29,000 per day, Panamax US$ 21,000 per day, Supramax US$  18,550 per day, Handy size US$ 14,000 per day.

The congestion increased to record high to 178 vessels at Australian ports in the EC for coal loading ports. The main reason was tropical cyclone and Force Majeure declared at Hay point (last week 158 vessels ). The congestion is likely to continue for some weeks.  On the WC Australia iron ore vessels waiting was at 24 vessels (last week 27 vessels).

The waiting at Indian ports for coal vessels was quite normal around 3/4 days , except for Paradip and Haldia where congestion continues due to slow clearance of cargoes from the port due to railway wagon shortage.

The crude prices was almost at same levels as last week and end of the week on Friday closed at 79.30 per barrel (last week at US$ 79.79 per barrel) . The  prices of bunkers was slightly almost same at 460 pmts (IFO 380 CST ex Singapore) on 26th 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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