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Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%


COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery and charter rates up", said Capt. Reddy, director of Vistaar Shipping Singapore.

The Baltic Dry Index, which measures the cost of transporting raw materials by sea, was up by 10.51 pct closing at 715 points and cape index was up by 1.46 pct closing at 1,457 points. The biggest gains was in the panamax index which was up by almost 40 pct closing at 967 points. The supramax index was up by 6 pct closing at 645 points whereas handysize index was down by 4 pct closing at 366 points.

Supramax delivery South China for trips via Indonesia were reported around usd 7500 pday. Short Period charter rates for Panamax delivery feast was around usd 10000 pday and for Supramax was around $ 9.000 per day.

There could be some correction in the coming weeks and could lose momentum and expect to stabilize.

The average charter rates was at Cape/$ 6,227 per day , Panamax/$ 7,732 per day , Supramax/$ 6,746 per day and Handysize/$ 5,489 per day.

The futures for three years (2012-2014) was at around Cape/$ 16,000 per day, Panamax/$ 11,500 per day, Supramax/$ 11,000 pday , Handysize/$ 8,500 per day.

The supramax index in the feast (S6 route) was up by 25.2 pct and closed at $ 6,280 pday (last week $ 5,016 per day) and S7 route  was up by 11.58 pct and closed at $ 5,884 per day (last week $ 5,273 per day) . S6 and S7 route likely to be firm next week.

The congestion in EC Australia increased to 102 vessels this week(last week 98). The vessels waiting at main coal loading ports were at Haypoint/4, DBCT/19, Gladstone/12, Abbot Point/2, New Castle/52, Port Kembla/13 vessels. On the WC Australia iron ore vessels waiting was at 64 vessels (last week 87).

The brent crude oil prices closed at $ 117.57 per barrel (last week $ 113.76 per barrel) and bunkers prices closed at $ 740.50 pmt (last week $ 720.50 pmt) for IFO 380 cst ex. Singapore on 10th  Feb 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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