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Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK


COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 points down by 10.03 percent. 

The cape index was down 5.25 percent and closed at 1,209 points. In the meantime, the Panamax and supramax indexes were fell by about 10 percent closing at 1,031 points and 1,069 points respectively.

The handy size index also joins its big sisters and fell by 8.37 percent and closed at 602 points.

The market is expected to be flat to soft next week also.

Indonesia to India Supramax market was soft this week and vessels were trading around $ 8,000 delivery South China. Short Period charter rate for Supramax was around $ 10,000 per day and for Panamax was around $ 9,000 per day. China – Indonesia – India freight rates are expected to be flat to soft next week.

The uncertainty still prevails with Euro zone crisis and the overall situation still remains gloomy”, said Capt. Reddy, director of Vistaar Shipping.

According to Vistaar Shipping Singapore, the average charter rates for  Capes around $ 4,740 per day , Panamax $ 8,225 per day , Supramax $ 11,177 per day and Handy size/$ 8735 per day.

However the futures for three years (2012-2015) are Seems to be much higher than the current level. Three years futures for Cape ere around at $ 15,000 per day, Panamax $ 10,500 per day, Supramax $ 10,500 per day  and Handy size $ 9,000 per day.

The supramax index in the far east (S8 route) was down by 12.40 percent and closed at $ 7,621  per day (last week it was at $ 8,700 per day) and S7 route  was also down by 10.71 pct  and closed at $ 6,041 per day (last week $ 6766 per day) . Both routes are likely to be soft next week.

The congestion in EC Australia was at 75 vessels this week higher than last week (last week 66 vessels).  The vessels waiting at main coal loading ports in Australia were at Haypoint/4, DBCT/21, Gladstone/7, Abbot Point/2, New Castle/40, Port Kembla/1 vessels. Around 43 vessels were waiting at WC Australia iron ore load ports (last week 39 vessels).

The Brent crude oil prices were steady or little higher than last week. The bunker prices were slightly soft closing at $ 629.50  (last week $ 637.50 pmt) for IFO 380 cst ex Singapore on 27th July  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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