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Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR


COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said Capt. Reddy director of Vistaar Shipping SIngapore.

The main reason has been the big drop of the Cape size index which has been dropping continuously for last few weeks with the index closing at 1,723 points and average charter rates at US$ 9,116 per day.

The Panamax and Supramax index also dropped drastically by 17.76 pct and 12.68 pct , whereas the handy size index dropped only by 4.65 pct. It seems the markets may continue to remain soft at least until the Chinese New year holidays over and may expect some correction from Feb 2012 onwards. However the overall sentiment for charter rates for 2012 including futures is quite soft.

Supramax delivery South China for trips via Indonesia were reported around US$ 6,000 per day. Short Period charter rates for Panamax and Supramax was down to around US$ 10,500-11,000 per day.

The average charter rates was at Cape/US$ 9,116 per day , Panamax/US$ 10,076 per day , Supramax/US$ 10,154 per day and Handy size/US$ 7,779 per day.

The futures for three years (2012-2014) was at around Cape/US$ 16,000 per day, Panamax/US$ 12,500 per day, Supramax/US$ 12,000 per day , Handy size/US$ 9,500 per day.

The Supramax index in the feast (S6 route) closed at US$ 6,245 per day (last week US$ 6,608 per day) and S7 route closed at US$ 6,525 per day (last week US$ 6,795 per day) . S6 and S7 route likely to remain soft next week also.

The congestion in EC Australia decreased to 94  vessels this week(last week 99). The vessels waiting at main coal loading ports were at Hay point/5, DBCT/19, Gladstone/18, Abbot Point/Nil, New Castle/53, Port Kembla/7 vessels. On the WC Australia iron ore vessels waiting was at 33 vessels.

The Brent crude oil prices closed at 110.43 per barrel and bunkers prices closed at US$ 732.50 pmt for IFO 380 CST ex Singapore on 13th Jan 2012.

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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