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Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR


COALspot.com:
The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 points where as the cape and panamax index was down by 129 points and 111 points respectively. The Supramax and handy size was marginally up by 33 point and 11 points respectively. The short period rates for Q4 has been quite strong and appears that the market will be fairly firm. However closing of the week there was news of a double dip recession in USA which is likely to create some uncertainty in the financial markets and if that happens could affect the shipping market also.

BALTIC DRY INDEX CHANGES

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
2712
2756
44
¯
-1.6
Baltic Cape Index
3449
3578
129
¯
-3.61
Baltic Panamax Index
2978
3089
111
¯
-3.59
Baltic Supra Index
2109
2079
33
1.59
Baltic Handy size Index
1079
1068
11
1.03
As of 27 August 2010


The average charter hire was at Cape/$ 33745 per day, Panamax/$ 23935 per day, Supramax/$ 22054 per day and Handy size/$ 15855 per day.

The Supramax index in the Fareast (S6 route) was up by $ 725 per day ( up by 3.46 pct) per day and closed at $ 21643 per day. The  ECI/China (S7) route also up by  $ 827 per day (up by 4.15 pct) and closed at $ 20731 per day . The S6 and S7 routes likely to be steady/firm.

The futures for three years (2010-2012) was firm for cape and panamax vessels and was at around Cape/$ 28000 per day, Panamax/$ 22000 per day, Supramax/$ 18500 per day, Handy size/$ 14000 per day.

The congestion in EC Australian ports was at 127 vessels this week (last week 129 vessels ). The vessels waiting at main coal loading ports were at Hay point/4, DBCT/49, Gladstone/14, Abbot Point/2, New Castle/55 vessels, Port Kembla/3 vessels. On the WC Australia iron ore vessels waiting increased to 20 vessels (last week 26 vessels).   

The waiting at Indian ports for coal vessels was quite normal around 3/4 days.

The Brent crude prices was volatile but closed higher than last week at $ 76.93 per barrel (last week $ 74.45 per barrel). The bunkers prices was almost at same levels and the prices ex Singapore and was at $ 437 pmt (ifo 380 cst ex Singapore) on 27th August 2010.

Click here for Vistaar’s forecasted (Terms & Conditions Apply) spot freight rates for coal & Iron-ore cargo for specific routes(cs)
Reported by Vistaar Shipping, Singapore



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