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Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP


COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Capt Reddy, Director of Vistaar Shipping Singapore. Vistaar Shipping is a vessel operator based in Singapore.

He further said, the reason seems to fresh cargoes after the Chinese new year holidays and lifting of ban on iron ore experts from WC Indian ports in the state of Karnataka.

The BDI and Cape index was up by 13 pct and closed at 1,178 points and 1,475 points. The Panamax index was up by 20 pct and closed at 1,620 points.

The Supramax and handy size index was up slightly by about 4 pct and 1 pct respectively. There has been hectic activity in the second hand ship sales and about 31 vessels were reported sold last week. The market is expected to be firm for next 2/3 weeks and will be interesting to see how the markets will behave in the coming weeks.

The average charter rates was at Cape/US$ 7,149 per day , Panamax/US$ 12,971 per day , Supramax/US$ 11,837 per day and Handy size/US$ 9,571 per day.

The Supramax index in the feast (S6 route) was up sharply but US$ 10.74 pct and closed at US$ 8095 per day (last week US$ 7310 per day). The EC India/ China (S7 route) was also up sharply by 13 pct and closed at US$ 12855 per day (last week US$ 11370 per day). The WC India to China is expected to be firm as the restrictions of iron ore export from Karnataka has been lifted by the Supreme court. The S6 and S7 route is expected to be firm next week also and likely to go up by about 10 pct.

The futures for three years (2011-2013) was at around Cape/US$ 22,000 per day, Panamax/US$ 17,000 per day, Supramax/US$ 15,000 per day , Handy size/US$ 11,000 per day.

The congestion in EC Australia slightly reduced to 90 vessels this week (last week 107 vessels). The vessels waiting at main coal loading ports were at Hay point/15, DBCT/23, Gladstone/12, Abbot Point/Nil New Castle/37, Port Kembla/3 vessels. On the WC Australia iron ore vessels waiting also reduced slightly to 43 vessels (last week 45 vessels).

The waiting at Indian ports for coal vessels was quite normal except for Paradip, Haldia, Kandla where the berthing delays was high with berthing delays of about 10/12 days.

The crude prices continued to be firm  due to Egyptian crisis and Brent crude prices was at US$ 101.41 per barrel (last week US$ 100.12 per barrel). Bunker prices also firmed up sharply and was at US$ 602.50 pmt (last week US$ 582.00 pmt) for IFO 380 cst ex Singapore on 11th Feb 2011.

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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