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Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING


COALspot.com (Singapore):
The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovered and closed at 2,752 points almost at same levels as last week.

The cape , panamax and supramax index was down by about 7 pct and closed at 4,708 , 2,391 and 1,709 respectively. The handysize index was almost steady and closed at 829 points. The average charter rates on closing of this week was at Cape / US$ 47,719 , Panamax / US$ 19,213, Supramax / US$ 17,875 and Handysize / US$ 12,010.

As we had mentioned earlier the BDI resistence levels seems to be around 2,500 points and seems next week the BDI will move up again by 10/15 pct and would be around 3,000 points .

The china's uncertainty of iron ore and coal imports seems to be the main reason of the week shipping market and is expected to be volatile for some time. The charter rates for supramax opening Far East was at around US$ 14,000 pday , however spot vessels for short voyages were reported fixed at lower levels. The Supramax rates from India to China was at around US$  21,000/22,000 per day.

This week both these routes are expected to be firming up.

According to Capt. Reddy, MD of Vistaar Shipping, one year charter rates for Supramax was at around US$ 17,000 per day and short period rates for vessels opening Far East.SE Asia was around US$ 17,000-18,000 per day. He further said, Two / Three year charter rates is around US$ 15000-16000 per day.

The congestion in Australia seems to be easing off slightly with about 94 coal vessels waiting EC Australia and 22 iron ore vessels waiting WC Australia.  The congestion in EC India Paradip and Visakhapatnam continues to be high with almost about 12/14 days waiting and this is expected to continue for some more time.

The crude prices was fairly firm during the week with brent crude , however on 14th Aug closed a bit lower at around US$ 70.70 per barrel.  However the bunker prices for IFO(380 cst) prices ex Singapore continued to be firm at around IFO(380cst)/usd 445 pmt.

Click here for Vistaar's forecasted (indicative) spot freight rates for coal & iron-ore cargo for 11 specific routes. (cs)



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