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Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR


COALspot.com - The freight market continued to fall further with all the indices down.

The BDI was down by 5.38 pct closing at 861 points and the Cape index was down by 2.72 pct closing at 1,215 points. The panamax index was also down by 6.97 pct closing at 1,094 points and the supramax index was down by 3.39 pct closing at 912 points. The Handy size index was down by 4.02 pct closing at 525 points.

The charter rates are down with the decline in demand for grain cargoes from South America and Iron Ore to China. The low steam coal demand also keeping the charter rates under pressure.

The average charter rates was at Cape/US$ 4,261 per day , Panamax/US$ 8,755 per day , Supramax/US$ 9,533 per day and Handy size/US$ 7,797 per day.

The futures for three years (2013-2015) was at around Cape/US$ 14,000 per day, Panamax/US$ 10,000 per day, Supramax/US$ 10,000 per day , Handy size/US$ 9,000 per day.

The supramax index in the feast (S8 route) was sharply down by 11.68 pct and closed at US$ 9075 per day (last week US$10,275 per day) .The route S7 was also down by 3.45 pct closed at US$ 7,878 per day (Last week US$ 8,160 per day).

The freight market in this sector is expected to be flat to firm this week.

The Brent crude oil prices softened and was down by 5.36 pct closing at US$ 104.12 per barrel (last week US$ 110.02 per barrel). The bunker prices was lower and closed at US$ 620.50 pmt (IFO 380 cst ex Singapore on 5th April 2013).

Baltic Dry Index : Down
Cape index: Up
Panamax index : Down
Supramax index: Down
( as of 5 April 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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Thursday, 28 March 13
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Wednesday, 27 March 13
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