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Sunday, 24 February 13
BDI FELL 1.72 PERCENT BUT FREIGHT MARKET FAIRLY STEADY - VISTAAR


COALspot.com - This freight market has been fairly steady this week but, BDI fell1.72 pct and closed at 740 points.

The cape index also joins BDI down by 6.9 pct and closed at 1,335 points. In the meantime, the Panamax and Supramax indices continued to rise and closed at 909 points (up by 9.25 pct and 717 points (up by 6.70 points) respectively. The handy size index was at same levels closing at 412 points.

There was good number of fixtures reported for period charter in the Panamax and Supramax sector. The short period rates for Panamax was around US$ 9000 per day and for Supramax US$ 8500 per day.

The average charter rates were at Cape/US$ 5,216 per day , Panamax / US$ 7,253 per day , Supramax / US$ 7,494 per day and Handysize / US$ 6,127 per day.

The futures for three years (2013-2015) was at around Cape / US$ 13,500 per day, Panamax / US$ 9,000 per day, Supramax / US$ 9,000 per day , Handy size / US$ 8,000 per day.

The Supramax index in the far east (S8 route) was sharply up by 12.20 pct and closed at 6,420 per day (last week US$ 5,722 per day) .The route S7 was also sharply up by 15.39 pct closing at US$ 4,565 per day (Last week US$ 3,956 per day).

The freight market in this sector is expected to be steady/firm next week.

The Brent crude oil prices softened by 3.02 pct and closed at US$ 114.10 per barrel (last week US$ 117.66  per barrel). The bunker prices was down and closed at US$ 641.50 pmt (IFO 380 CST ex. Singapore on 22nd Feb 2013).

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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