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Sunday, 25 August 13
THE FREIGHT MARKET S7 & S8 SECTOR IS EXPECTED TO BE STEADY/FIRM NEXT WEEK - VISTAAR


COALspot.com - The freight market continued to be firm with all indices moved positive except for Panamax which was slightly down (2 pct down).

The BDI was increased by 5.72 pct week ended 23 August 2013, and closed at 1,102 points. The cape index was continued the upward trend and jumped 9.47 on Friday, closed at 2,312 points. The Panamax closed slightly lower or fell  2.17 pct and closed at 923 points. The supramax and handymax indices were slightly up closed at 916 points (up 1.20 points) and 517 points (up 2.13 points) respectively week on week.

The iron ore demand keeps the cape sector in positive trend for last few week and seems to be the iron ore imports by China will be strong for the rest of the year. The futures for all sectors are showing a firm trend.

The Panamax freight expected to be steady to soft this week in the SE Asia region. The Supramax freight rates from Indonesia to India continued to be soft. However the sectors is expected to be slight firm next week.

The average charter rates were at Cape/US$ 16533 per day , Panamax/ US$  7207 per day , Supramax/ US$  9686 per day and Handy size/ US$  7647 per day.

The futures for three years (2013-2015) was at around Cape/ US$ 17500 per day, Panamax/ US$ 10000 per day, Supramax/ US$ 10000 per day , Handysize/ US$ 9000 per day.

The supramax index in the far east (S8 route) was up by 3.33 pct and closed at US$ 7948 per day(last week it was closed at US$ 7692 per day) .The route S7 was at same levels closed at US$ 7875 per day (Last week US$ 7875 per day) .  The freight market in this sector is expected to be fairly steady/firm next week.

The Brent crude oil prices was almost at same levels and closed at US$ 110.04 per barrel (last week US$ 110.40 per barrel). The bunker prices were also at same levels and closed at US$ 605.50 pmt (IFO 380 cst ex Singapore on 23rd August 2013).

Baltic Dry Index  - UP
Cape index - UP
Panamax index - DOWN
Supramax index - UP
Handy index: - UP
(as of week ended 23 August 2013 (W-O-W))  

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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