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Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH


COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.

The BDI was slightly down by 6 points closing at 768 points. The cape index was the only index which was up by 2.33 pct closing at 1621 points . Panamax index was down and did not seem to recover which was down by 8.99 pct closing at 425 points. The supramax and handy size index was down by about 2 pct closing at 830 points and 472 points respectively.

The Supramax freight market from Indonesia to India softened with softening of bunker prices. The charter rates were reported around US$ 10000 delivery SE Asia for trip via Indonesia to India. The panamax charter rates were also soft and the freight rates to India remained soft. The freight rates from Indonesia is expected to be soft next week.

There is lot of uncertainty in the market and overall sentiments are still bearish.

The futures for three years (2012-2015) was at around Cape/US$ 14,500 per day, Panamax/US$ 9,000 per day, Supramax/US$ 10,000 per day , Handy size/US$ 8,500 per day.

The supramax index in the far east (S8 route) was down by 3.51 pct and closed at US$ 7,816  per day (last week US$ 8,100 per day) and S7 route  was also down by 4.56 pct and closed at US$ 4,852 per day (last week US$ 5,084 per day) . Both routes likely to be soft next week. 

The congestion in EC Australia was at 51 vessels this week (last week 55 vessels).  The vessels waiting at main coal loading ports were at Hay point/2, DBCT/4, Gladstone/7, Abbot Point/Nil, New Castle/35, Port Kembla/2 vessels. On the WC Australia iron ore vessels waiting was at 32 vessels (last week 39 vessels).

The Brent crude oil prices was almost at same levels and down by 0.62 pct and closed at US$ 112.17  per barrel (last week  US$ 111.59 per barrel). The bunker prices was almost at same levels and closed at US$ 660.50  (last week US$ 659.00 pmt) for IFO 380 cst ex Singapore on 28th Sept 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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Recent News

Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was  mixed with most indices closing positive except for the Panamax index. The main sentiment seems to be ...


Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...


Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...


Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...


Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades. The only trade keeping somewhat s ...


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