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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 respectively. The BDI was also down by 16.58 pct and closed at 1,902 points.

The Supramax and Handy size index was down by 8.92 pct and 10.29 pct respectively. The main reason seems to be due to pressure on steel prices and slowing down of imports by China.

BDI (Baltic Dry Index Changes)

BALTIC DRY INDEX CHANGE

 

This week

Last week

Change

Change %

Baltic Dry Index

1902

2280

378¯

-16.58

Baltic Cape Index

2102

2627

525 ¯

-19.98

Baltic Panamax Index

1944

2447

503 ¯

-20.56

Baltic Supra Index

1817

1995

178 ¯

-8.92

Baltic Handy size Index

1003

1118

115 ¯

-10.29

As of 9 July 2010

"It appears that the situation may continue for next couple of weeks", said Capt. Reddy, MD of Vistaar Shipping, Singaproe. He further said, "the iron ore exports out India has also been severely affected. However it appears the markets has almost is almost bottomed and may not go much further down".

The average charter hire was at Cape/usd 17,643 pday, Panamax/usd 15,679 pday, Supramax/usd 18999 pday and Handy size/usd 14,736 pday.

The Supramax index in the Fareast (S6 route) was down by usd 1,506 pday and closed at usd 18080 pday. The  ECI/China (S7) route softened by usd 1,981 pday and closed at usd 17,367 pday and seems both these routes are likely to be soft for next 2/3 weeks.

The futures for three years (2010-2012) was at around Cape/usd 25,000 pday, Panamax/usd 19,000 pday, Supramax/usd 17,000 pday, Handy size/usd 13,000 pday.

The congestion in EC Australian ports was at 116 vessels this week (last week 116 vessels ). The vessels waiting at main coal loading ports were at Hay point/5, DBCT/54, Gladstone/5, Abbot Point/2, New Castle/48 vessels, Pot Kembla/2 vessel. On the WC Australia iron ore vessels waiting increased to 40 vessels (last week 34 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 up at usd 75.61 per barrel (last week usd 71.84 per barrel). The bunker prices also firmed up and IFO (380 pcrices) ex Singapore and was at usd 439.50 pmt (ifo 380 cst ex Singapore) on 9th 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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