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Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY


COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.

The BDI was down by 8.67 pct and closed at 2,444 points.

The cape index saw the maximum drop and was down by 10.34 pct and closed at 3,121 points. The Panamax and Supramax index was also under pressure and was down by almost 7 pct and closed 2,719 and 1,879 points respectively. The handy size was only marginally down by 1.47 pct and closed at 1,069 points.

BALTIC DRY INDEX CHANGES

 
BALTIC DRY INDEX CHANGE
 
 
This week
Last week
Change
Change %
 
 Baltic Dry Index
2444
2676
232
¯
8.67
 
 Baltic Cape Index
3121
3481
360
¯
10.34
 
 Baltic Panamax Index
2719
2928
209
¯
7.14
 
 Baltic Supra Index
1879
2012
133
¯
6.61
 
 Baltic Handy size Index
1069
1085
16
¯
1.47
 
As of 24 September 2010


The iron ore demand was flat and the iron ore movement into China will have a major affect on the freight market. Also the new deliveries, especially cape size vessels will have a affect on the market with almost 3 cape size vessels new deliveries every week.

The average charter hire was at Cape/US$ 29,002 per day, Panamax/US$ 21,840 per day, Supramax/US$ 19,644 per day and Handy size/US$ 15,666 per day.

The Supramax index in the Fareast (S6 route) was down by  US$ 1,368 per day (down by 7.0 pct ) and closed at US$ 11,8027 per day. The  ECI/China (S7) route was down by US$ 994 per day (down by  5.48 pct) and closed at US$ 17,129 per day . The S6 and S7 routes seems will be under pressure next week also.

The futures for three years  (2010-2012) was almost at same levels and was around Cape/US$ 27,000 per day, Panamax/US$ 21,000 per day, Supramax/US$ 18,500 per day, Handy size/US$ 14,000 per day.

The congestion in EC Australian ports decreased to 93 vessels this week (last week 102 vessels ). The vessels waiting at main coal loading ports were at Hay point/5, DBCT/38, Gladstone/9, Abbot Point/1, New Castle/45, Port Kembla/5 vessels. On the WC Australia iron ore vessels waiting was slightly down to 26 vessels (last week 30 vessels).   

The waiting at Indian ports for coal vessels was quite normal around 3/4 days, except that the congestion at Haldia continued to be high with almost 20 days berthing delays for iron ore vessels.

The Brent crude prices was almost at same levels and was at US$ 78.87 per barrel (last week US$ 78.08 per barrel ). The bunkers prices was almost around same levels ex Singapore and was at US$ 440.00 pmt (ifo 380 cst ex Singapore) on 24th Sept 2010.

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

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