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Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE


COALspot.com:
The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.

All other segments were also under pressure with the Cape index most affected which dropped by 9.56 pct and closed at 3612 points. The Panamax index slight increase of 2.56 pct and closed at 2,365 points. The Supramax and Handy size was also under pressure and closed at 1,516 points (down by 6.88 pct) and 833 points (down by 2.69 pct) respectively.

BALTIC DRY INDEX CHANGES

 
BALTIC DRY INDEX CHANGE
 
 
This week
Last week
Change
Change %
 
 Baltic Dry Index
2313
2495
182
¯
7.29
 
 Baltic Cape Index
3612
3994
382
¯
9.59
 
 Baltic Panamax Index
2365
2304
62
2.65
 
 Baltic Supra Index
1516
1628
112
¯
6.88
 
 Baltic Handy size Index
833
856
23
¯
2.69
 
As of 12 November 2010


The Supramax vessels opening in Far east and India was under pressure . The Supramax rates opening far east was at around US$ 15,000 per day delivery South China and vessels opening in India was at around US$ 14,000 per day. Next week also seems may continue to be soft especially vessels opening Far East and India.

The average charter hire was at Cape / US$ 34,500 per day, Panamax / US$ 19,079 per day, Supramax / US$ 15,856 per day and Handy size / US$ 12,098 per day.

The Supramax index in the far east (S6 route) continued to be under pressure and was down by US$ 1.094 per day (down by 6.60 pct) and closed at US$ 15,468 per day (last week US$ 16,562 per day). The  ECI / China (S7) route also continued to be soft and was down by US$ 886 per day (down by 6.00 pct) and closed at US$ 13,792 per day (last week 14,678).

The S6 and S7 routes may continue to be under pressure next week also.

The futures for three years (2011-2013) was at around Cape / US$ 26,000 per day, Panamax / US$ 18,500 per day, Supramax / US$ 17,000 per day, Handy size / US$ 13,000 per day.

The congestion in EC Australian ports was lower than last week at 78 vessels this week (last week 80 vessels ). The vessels waiting at main coal loading ports were at Hay point/Nil, DBCT/27, Gladstone/10, Abbot Point/1, New Castle/37, Port Kembla / 3 vessels. On the WC Australia iron ore vessels waiting was at same levels at 14 vessels (last week 16 vessels). 

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

The Brent crude prices was slightly down and closed at US$ 86.10 (last week US$ 88.50 per barrel). However the bunker prices firmed up and closed at US$ 499.00 pmt (last week US$ 491.00 pmt)  for IFO 380 CST ex. Singapore on 12th Nov 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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