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Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR


COALspot.com - This week the freight market was weak with mixed results.

The BDI was down by 1.95 pct closing at 703 points, however there was some improvement is Cape index which was up by 4.27 pct closing at 1172 points.

The Panamax index saw the biggest drop this week down by 11.23 pct closing at 735 pct. The supramax index was almost at same levels closing at 857 points (up by 0,47 pct) and handysize was down by 3.16 pct closing at 459 points.

According to Capt. Reddy of Vistaar Shipping, the supramax freight market from Indonesia to India showed some signs of improvement. There appears to be more coal cargoes coming in the market and expect more shipments in September. The freight rates from Indonesia is expected to be steady next week.

The iron ore demand continues to be weak with prices at the lowest.

The average charter rates was at Cape/US$ 3308 per day , Panamax/US$ 5840 per day , Supramax/US$ 8960 per day and Handysize/US$ 6672 per day.

The futures for three years (2012-2015) was at around Cape/US$ 14000 per day, Panamax/US$ 10000 per day, Supramax/US$ 10000 per day , Handysize/US$ 8250 per day.

The supramax index in the far east (S8 route) was up by 8.24 pct and closed at US$ 6868  per day (last week US$ 6345 per day) and S7 route  was down by 1.41 pct  and closed at US$ 4752 per day (last week US$ 4820 per day) . Both routes likely to be steady next week.

The congestion in EC Australia was at 76 vessels this week (last week 78 vessels).  The vessels waiting at main coal loading ports were at Haypoint/2, DBCT/16, Gladstone/1, Abbot Point/2, New Castle/57, Port Kembla/4 vessels. On the WC Australia iron ore vessels waiting was at 31 vessels (last week 47 vessels).

The Brent crude oil prices moved up slightly and closed at US$ 114.79  per barrel (last week  US$ 113.36 per barrel). The bunker prices was almost at same levels closing at US$ 678.00  (last week US$ 677.50 pmt) for IFO 380 cst ex Singapore on 31st August 2102.

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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Saturday, 25 August 12
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Thursday, 23 August 12
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