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Monday, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
PanamaxCOALspot.com: The freight markets continued to fall this past week.

The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global supply and demand for shipping of commodities down 6% week over week to 297 points on 5 February 2016. The index peaked at 11,793 in May 2008 and It fell this past Friday to 297 points (declined 97.48%).

The Cape Index was almost flat week over week. The BCI closed 212 points on 5 February 2016.

The Panamax index (BPI) was up 2.79% to 295 points while the Supramax index (BSI) was down 13.81% to 262 points, compared to 304 points on 29 January 2016.

The handy size index was also down 11.41% to 194 points on 5 February 2016.

Average daily earnings for Supramax, for the route Indonesia to India (delivery Indonesia) rated at around $ 3000-4000 per day this past week, while the Panamax vessels rated at around $ 2000-2500 per day delivery Shanghai, China.

The freight rates are expected to be flat to weak this week due to Chinese New year holidays and lack of demand.

The Cape average charter rates was reported at around US$1547 per day and Panamax’s was reported at around US$2361per day. The Supramax’s average charters rates were at around  $2736 per day and Handy size ships were at $2858 per day.

According to Nikkei, already so far, more than half a dozen shipping companies from countries including Hong Kong, China, South Korea, Japan and the U.S. have filed for bankruptcy in the past two years. In 2015, bankruptcies gathered pace as orders dried up while new ships continued to enter the market.

The futures for three years (2016-2018) for the ships were reported slightly higher than the current spot rates the ship were earning.  The Cape size ships were at US$ 8000 per day, Panamax at US$ 6500 per day, Supramax at US$ 6500 per day and Handy size at US$ 5500 per day.

The S8 route charter rates for Supramax down 22.85 percent week over week to $1881 per day on Friday 5 February 2016. Indonesia to India freight rates are expected to be flat to weak next week.

The Brent crude oil prices was down by  1.95 pct closing at $ 34.06 per barrel (as on 29th Jan 2016 was $ 34.74 per barrel). The bunker prices were  up and closed  at $ 166.00 pmt (IFO 380 cst ex Singapore on 5th Feb 2016).

Baltic Dry Index (BDI) - DOWN
Cape index (BCI) - UP
Panamax index (BPI) - UP
Supramax index (BSI) - DOWN
Handy index - DOWN
(as of week ended 5 Feb 2016 (week on week changes)) 

Click here
 for Vistaar Shipping Services (India) Private Ltd forecasts (subject to terms, conditions & Disclaimer clauses) for spot freight rates for coal & Iron-ore cargo for specific routes (cs)

The information provided by Vistaar Shipping Services (India) Private Ltd , India 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. Vistaar Shipping Services (India) Private Ltd, 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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