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Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR


COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which was up by 5.7 pct and closed at 3429 points. The BDI was up by 3.45 pct and closed at 2991 points.  The Panamax and Supramax dropped by 6.48 pct and 8.91 pct respectively. The Handy size index was also down by 6.14 pct.

BDI (Baltic dry index changes)

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
2991
3098
107¯
3.45
Baltic Cape Index
3429
3244
185
5.70
Baltic Panamax Index
3708
3965
257 ¯
6.48
Baltic Supra Index
2409
2647
238¯
8.91
Baltic Handy size Index
1360
1449
89 ¯
6.14
As of 1 April 2010


Ships opening Fareast continue to be struggling for cargoes. The Supramax vessels open N. China were seen fixed at low/mid teens for trip via Indonesia to India.

The average charter hire was at Cape US$  30,641, Panamax US$ 29,836, Supramax US$ 25,188 and Handy size US$ 19,781 per day respectively .

The Supramax index in the Fareast (S6 route) softened by US$  2,850 per day (down by 11.87pct) and closed at US$  21,160 per day. The ECI / China (S7) route also softened by US$  3,217 per day (down by 8.64 pct) and closed at US$  33,996 per day.


Ships from WC India to china continued to be fixed at healthy levels at around US$ 35/40,000 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$  18,000 per day, Handy size US$  14,000 per day.

The congestion in EC Australian ports continued to be high at 174 vessels (last week 178 vessels)  with Hay point and DBCT operational the congestion is expected to reduce. The vessels waiting at main coal loading ports were at Hay point 34 , DBCT 62 , Gladstone 19 ,New Castle 48 vessels. On the WC Australia iron ore vessels waiting was at 19 vessels (last week 24 vessels). 

With the major iron ore shippers maintaining spot prices for the iron ore, it ill be interesting to see how the steel prices will hold and how it will affect the shipping market.

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 firm this week and closed on Thursday at 84.42 per barrel (last week at US$  79.30 per barrel) . The  prices of bunkers was up at US$ 464 pmts (IFO 380 CST ex. Singapore) on 1st April 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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