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Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM


COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.

The BDI was up by only about 2.86 pct closing at 1835 points, whereas the Cape index was up by 13 pct closing at 3150 points. The other segments were soft with Panamax index down by 4 pct closing at 1761 points and Supramax down by 7 pct closing at 1324 points. The handy size index was down by 7.3 pct closing at 675 points.  If the Cape index continues to move up , we expect that the other segments also would recover next week.

Supramax delivery N. China for trips via Indonesia were reported around $ 8000-9000 per day. Short Period charter rates for Panamax reported at around $ 13000 per day and Supramax around $ 12000 per day.

“Even though the charter rates have been soft, the bunker prices have been firm which is keeping the freight fairly firm”, said Capt. Reddy of Vistaar Shipping Singapore.  According to him, The average charter rates was at Cape/$ 27188 per day , Panamax/$ 14079 per day , Supramax/$ 13844 per day and Handy size/$ 9574 per day.

The Supramax index in the feast (S6 route) was down by 16.46 pct and closed at $ 8323 per day (last week $ 9964 per day). The EC India/China (S7 route) was also down by15.20 pct and closed at $ 7321 per day (last week $ 8633 per day). The S6 and S& route likely to remain soft next week.

The futures for three years (2011-2013) was at around Cape/$ 15500 per day, Panamax/$ 13000 per day, Supramax/$ 13000 per day , Handy size/$ 10500 per day.

The congestion in EC Australia decreased to 80 vessels this week (last week 89 vessels). The vessels waiting at main coal loading ports were at Hay point/4, DBCT/12, Gladstone/7, Abbot Point/Nil, New Castle/45, Port Kembla/9 vessels. On the WC Australia iron ore vessels waiting was at 47 vessels  (last week 45 vessels).

The Brent crude oil prices was up and closed at $ 114.08  per barrel (last week $ 112.45 per barrel).  Bunker prices also remained firm and closed at 709.50 pmt (last week $ 695.50 pmt) for IFO 380 CST ex Singapore on 11th 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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