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Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE


COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.

The cape index was up by 2.41 pct closing at 1,614 points. The panama index continued its fall and was down by 13.42 pct closing at 1,322 points. The supramax index was also slightly down by 0.54 pct closing at 1,112 points. The handysize index was up by 2.32 pct closing at 616 points.

"The uncertainty  continues in the shipping market with oversupply and unlikely to see a rebound anytime soon. Iron ore prices softened indicating weak demand and if this continues the shipping freight market is expected to be weak", Capt. Reddy, Director Vistaar Shipping, Singapore said.

The spot fixture rates for Supramax in SE Asia remained weak with vessels rating around $ 10,500 to 11,000 delivery South China. No period activity report on Supramax.

Panamax vessel for short period reported fixed around $ 11,000 per day.

The average charter rates was at Cape/$ 8,660 per day , Panamax/$ 10,550 per day , Supramax/$ 11,623 per day and Handy size/$ 9,269 per day.

The futures for three years (2012-2015) was at around Cape/$ 16,000 per day, Panamax/$ 11,500 per day, Supramax/$ 11,500 per day , Handy size/$ 9,500 per day.

The supramax index in the far east (S8 route) was down by 5.00 pct and closed at $ 10,682  per day (last week $ 11,245 per day) and S7 route  was down by 4.49 pct  and closed at $ 8,959 per day (last week $ 9,380 per day) . Both routes likely to be soft next week.

The congestion in EC Australia decreased to 53 vessels this week (last week 68 vessels).  The vessels waiting at main coal loading ports were at Hay point/3, DBCT/7, Gladstone/14, Abbot Point/1, New Castle/20, Port Kembla/7 vessels. On the WC Australia iron ore vessels waiting was at 33 vessels (last week 35 vessels).

The Brent crude oil prices remained weak and was down by 1.11 pct closing at $ 112.04 per barrel (last week  $ 113.30 per barrel) and bunkers prices also softened closing at $ 672.00 pmt (last week $ 704.00 pmt) for IFO 380 cst ex Singapore on 11th May 2012.



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Recent News

Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped  31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...


Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points. The Cape Si ...


Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...


Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...


Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...


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