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Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR


COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also continued to drop and was down by 13.56 pct and closed at 2,829 points. Panamax and Supramax dropped and closed at 1,866 points (down by 3.76 points) and 1,452 points (6.02 pct) respectively.

Handy size index dropped by 5.60 pct and closed at 742 points.

Very less interest in short period and for Supramax delivery N. China for trips via Indonesia were reported around US$ 9,000-10,000 per day, said Capt. Reddy, Director of Vistaar. The freight rate from Indonesia to India likely to remain soft next week. According to Capt. Reddy, 2012 also not a good year for bulk vessels and freight market.

“Global shipping is experiencing a downturn that's even worse than during the 2008 financial crisis, China's transportation minister said, as reported by Reuters.

The average charter rates was at Cape/US$ 23,374 per day , Panamax/US$ 14,925 per day , Supramax/US$ 15,183 per day and Handy size/US$ 10,565 per day.

The Supramax index in the feast (S6 route) was down by 13.60 pct and closed at US$ 10,442 per day (last week US$ 12,086 per day). The EC India/China (S7 route) was also down by11.76 pct and closed at US$ 8,949 per day (last week US$ 10,142 per day). The S6 and S& route likely to remain soft next week.

The futures for three years (2011-2013) was at around Cape/US$ 15,000 per day, Panamax/US$ 13,000 per day, Supramax/US$ 13,000 per day , Handy size/US$ 10,500 per day.

The congestion in EC Australia decreased to 89 vessels this week (last week 100 vessels). The vessels waiting at main coal loading ports were at Hay point/4, DBCT/7, Gladstone/12, Abbot Point/Nil, New Castle/45, Port Kembla/10 vessels. On the WC Australia iron ore vessels waiting was at 45 vessels  (last week 37 vessels).

The Brent crude oil prices was up and closed at US$ 112.45  per barrel (last week US$ 110.05 per barrel).  Bunker prices also remained firm and closed at 695.50 pmt (last week US$ 692.00 pmt) for IFO 380 cst ex Singapore on 4th Nov 2011.

Click here for Vistaar’s forecasts (terms & conditions apply) for spot freight rates for coal & Iron-ore cargo for specific routes (cs)



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Recent News

Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...


Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...


Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...


Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...


Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy The Atlantic market is quite steady, and market seems to be around the same levels as last week.  Fewer fixtures reported though.  ...


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