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Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY


COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The Cape index seemed to be bottoming and was only down by 90 points down by 3.31 pct.

The BDI was down by 8.83 pct and closed at 2,280 points. The Supramax and Handy size index was down by 5.98 pct and 5.41 pct respectively. The market continues to be uncertain, with the Atlantic market quite soft and almost same as the Feast market. In the Fareast/India segment , the iron movement from India is severely affected , partly due to monsoons but there seems to be slowing down of imports by China.

BDI (Baltic Dry Index Changes)

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
2280
2501
221¯
-8.83
Baltic Cape Index
2617
2717
90 ¯
-3.31
Baltic Panamax Index
2447
3045
598 ¯
-19.63
Baltic Supra Index
1995
2122
127 ¯
-5.98
Baltic Handy size Index
1118
1182
64 ¯
-5.41
As of 2 July 2010


The average charter hire was at Cape/usd 23,469 pday, Panamax/usd 19,719 pday, Supramax/usd 20,862 pday and Handy size/usd 16,337 pday.

The Supramax index in the Fareast (S6 route) was down by usd 623 pday and closed at usd 19,586 pday. The  ECI/China (S7) route softened by usd 875 pday and closed at usd 19,348 pday and seems both these routes are likely to soften further next week.

The futures for three years (2010-2012) was at around Cape/usd 27,000 pday, Panamax/usd 20,000 pday, Supramax/usd 17,500 pday, Handy size/usd 14,000 pday.

The congestion in EC Australian ports was at 116 vessels this week (last week 126 vessels ). The vessels waiting at main coal loading ports were at Hay point/8, DBCT/48, Gladstone/6, Abbot Point/2, New Castle/52 vessels, Pot Kembla/Nil vessel. On the WC Australia iron ore vessels waiting increased to 34 vessels (last week 28 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  Paradip.

The Brent crude prices was sharply down at usd 71.84 per barrel (last week usd 78.40 per barrel). The bunker prices was soft and IFO (380 prices) ex Singapore and was at usd 423 pmt (ifo 380 cst ex Singapore) on 2nd July 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

Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...


Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines. "Arutmin is being impacted by ...


Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...


Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under  Ministry of Commerce, has invited Expression of Interest from coal suppliers ...


Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...


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