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Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING


COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall rates of moving dry bulk cargoes like iron ore, coal, and grain across water down by 12.23 pct closing at 1205 points week ended 4 April 2014.

The cape index also followed BDI for the same period. Cape index lost 9.81 pct week on week and closed 2306 points while the Panamax was the most affected sector this week. Panamax Index was lost 15.95 pct closed at 822 points. The Supramax index also was down 10.04 pct closed at 1003 points. The handy size index lost 8.53 pct closed at 598 points.

In the Far east/SE Asia,  the charter rates on supramax continued lost ground and most of the vessels were rating around US$ 13-14,000 per day passing Singapore.

Panamax rates was also continued to be soft with owners rating around US$ 10,000 per day delivery South China.  Freight rates are expected to be move the same trend next week.

The average charter rates was at Cape/US$ 16,541 per day , Panamax/US$ 6,631 per day , Supramax/US$ 10,492 per day and Handy size/US$ 8,909 per day.

The futures for three years (2014-2016) was at around Cape/US$ 25,000 per day, Panamax/US$ 13,000 per day, Supramax/US$ 13,000 per day , Handy size/US$ 10,500 per day.

The route S8 route softened further or lost 16.78 pct this past week and closed at US$ 10679 per day (last week US$ 12833 per day ). Freight rates from Indonesia to India is expected to be soft next week.

The Brent crude oil prices was slightly up 1.07 pct and closed at US$ 106.72 per barrel (last week US$ 108.07 per barrel). The bunker prices was steady and closed at 583.50 pmt (IFO 380 cst ex Singapore on  4th April 2014).

Baltic Dry Index  - DOWN
Cape index - DOWN
Panamax index - DOWN
Supramax index - DOWN
Handy index: - DOWN

(as of week ended 4 April 2014 (week on week))

Click here
for Solym Singapore's forecasts (terms & conditions apply) for spot freight rates for coal & Iron-ore cargo for specific routes (cs)

The information provided by SOLYM Carriers Pte Ltd, Singapore in this report is provided for information purposes only. No claim is made as to accuracy of the content in this report at any time. Solym Carriers Pte Ltd, Singapore and their Group companies or Subsidiaries do not accept any liability to any person or Company for the information provided in this report. No responsibility is taken for any information of services that may appear in this report.



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