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Sunday, 07 July 13
FREIGHT MARKET IS EXPECTED TO BE SOFT TO STABLE NEXT WEEK- VISTAAR


COALspot.com - The freight market softened for the week ended 5 July 2013, and experienced a decline in all sectors, including BDI. Bulk dry Index down by 6.15 pct and closed at 1,099 points.

The Cape Index saw the biggest drop this week. T was fell10.90 percents and closed at 1,929 points week ended 5 July 2013.  Panamax index was almost at same level or just up by 1 point and closed at 1,008 points, but her small sister supramax down by 3.14 pct closed at 924 points.

The handy size index closed slight lower down by only 0.71 per cent and closed at 568 points.

The iron ore stocks in Chinese's ports are piling up and there could slow down of imports in coming days.  The panamax rates remained stable with coal out of Richards Bay was fairly steady this week.

The supramax charter rate also was fairly stable for Indonesia to India route. Freight market is expected to be soft to stable Next week. The average charter rate was at Cape/US$ 12737 per day , Panamax/US$ 8,013 per day , Supramax/US$ 9,663 per day and Handysize/US$ 8,324 per day.

The futures for three years (2013-2015) was at around Cape/US$ 15,000 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 far east (S8 route) was down 4.63 pct and closed at $ 9,138 per day (last week US$ 9,190 per day) .The route S7 was at same levels closing at US$ 7,875 per day (Last week US$ 7,875 per day) .  The freight market in this sector is expected to be steady next week.

The Brent crude oil prices was up by 5.44 pct closing at US$ 107.72 per barrel (last week US$ 102.16 per barrel). The bunker prices ended slightly lower at US$ 591.50 pmt (IFO 380 cst ex Singapore on 5th July 2013).

Baltic Dry Index DOWN
Cape index DOWN
Panamax index UP
Supramax index DOWN
Handy index: DOWN
 (as of 5 July 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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