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Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY


COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 points. There have been several cape size vessels reported fixed for short period because of firm spot rates. The panamax , Supramax and handy size index was almost at same levels and closed at 2,403 points, 1,894 point and 1,033 points respectively.  With the Chinese holidays over the market is expected to firm up next week. Iron ore shipment out of India has been weak and several ships were seen ballasting towards South Africa or Singapore. The waiting at coal loading ports and iron ore vessels in Australia  continued to increase.

The average charter hire was at Cape/US$ 40,798 per day, Panamax/US$ 19,332 per day, Supramax/US$ 19,805 per day and Handy size/US$ 15,100 per day.

The Supramax index in the Fareast (S6 route) was marginally up by US$ 177 per day (up by 1 pct) and closed at US$ 18,264 per day (last week US$ 18,087 per day). The  ECI/China (S7) route further softened by US$ 295 per day (down by  1.8 pct) and closed at US$ 16,213 per day . The S6 and S7 routes is expected to improve next week.

The futures for three years (2011-2013) was at around Cape/US$ 27,500 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 increased to 118 vessels this week (last week 105 vessels). The vessels waiting at main coal loading ports were at Hay point/6, DBCT/43, Gladstone/13, Abbot Point/1, New Castle/54, Port Kembla/1 vessels. On the WC Australia iron ore vessels waiting also increased to 30 vessels (last week 19 vessels).   

The waiting at Indian ports for coal vessels was quite normal around 3/4 days, except that the congestion at Haldia continued to high.

The Brent crude prices was slightly firm and closed at US$ 84.19 (last week US$ 83.78 per barrel). The bunkers prices was also firmed up slightly and was up by and at US$ 464 pmt (last week US$ 459 pmt)  for IFO 380 cst ex Singapore on 8th Oct 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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