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Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY


COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.

The other sectors were under pressure and the Panamax/Supramax and Handy size index was down by 7.19 pct , 3.65 pct and 2.57 pct respectively. The market seems to be stabilizing and the firmness which was seen in the Panamax and Supramax sector for last couple of weeks has weakened.

"Overall with the financial markets in turmoil the market has been very unsteady. It appeared that the cargo stems out of Indonesia and Australia were less", said Capt. Reddy, MD of Vistaar Shipping, Singapore.

BDI (Baltic Dry Index Changes)

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
4078
3844
234
6.09
Baltic Cape Index
5217
4317
900
20.85
Baltic Panamax Index
4247
4576
329 ¯
-7.19
Baltic Supra Index
2982
3095
113 ¯ 
-3.65
Baltic Handy size Index
1477
1516
39 ¯ 
-2.57
As of 28 May 2010


The average charter hire was at Cape/US$ 57,095 per day, Panamax/ US$ 34,083 per day, Supramax/ US$ 31,176 per day and Handy size/ US$ 21,408 per day.

The Supramax index in the Fareast (S6 route) was down by US$ 696 per day and closed at US$ 26,234 per day. The  ECI/China (S7) route softened by US$ 4,179 per day and closed at US$ 27,200 per day and is likely to soften further.

The futures for three years (2010-2012) was at around Cape/ US$ 32,000 per day, Panamax/ US$ 21,500 per day, Supramax/ US$ 19,000 per day, Handy size/ US$ 14,000 per day.

The congestion in EC Australian ports was at 128 vessels this week (last week 117 vessels ). The vessels waiting at main coal loading ports were at Hay point/14, DBCT/63, Gladstone/11, Abbot Point/Nil, New Castle/16 vessels, Port Kembla /1 vessel. On the WC Australia iron ore vessels waiting increased to 42 vessels (last week 26 vessels). 

The waiting at Indian ports for coal vessels was quite normal around 3/4 days except that congestion starting to increase at Visakhapatnam and Haldia in addition to Paradip.

The Brent crude prices was slighlty up at US$ 74.14 per barrel (last week US$ 71.72 per barrel).  The  prices of bunkers was quite soft during later part of the week  and closed at US$421 pmt (IFO 380 CST ex. Singapore) on 28th  May 2010.

CLICK HERE for Vistaar’s forecasted (Terms & Conditions Apply) spot freight rates for coal & Iron-ore cargo for specific routes(cs)



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Recent News

Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...


Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...


Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...


Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...


Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct. The BD ...


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