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Monday, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
PanamaxCOALspot.com: The freight markets rose slightly this past week.

The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global supply and demand for shipping of commodities up 3.81% week over week to 327 points on 26 February 2016. The index peaked at 11,793 in May 2008.

The Cape Index fell 14.5% week over week or down only 30 points. The BCI closed 177 points on 26 February 2016.

The Panamax index (BPI) was down 0.85% to 352 points while the Supramax index (BSI) was rose 16.43% to 333 points, compared to 286 points on 19 February 2016.

The handy size index was also up 7.07% to 212 points on 26 February 2016.

Average daily earnings for Supramax, for the route Indonesia to India (passing Singapore) rated at around $ 4500 per day this past week, while the Panamax vessels rated at around $ 3500 - 4000 per day delivery South China / Hong Kong range.

The freight rates are expected to be steady this week.

The Cape average charter rates were reported at around US$2,396 per day and Panamax’s was reported at around US$2,823 per day. The Supramax’s average charters rates were at around  $3,481per day and Handy size ships were at $3,146per day.

The futures for three years (2016-2018) for the ships were reported higher than the current spot rates the ship were earning.  The Cape size ships were at US$ 8000 per day, Panamax at US$ 6000 per day, Supramax at US$ 6000 per day and Handy size at US$ 5000 per day.

The S8 route charter rates for Supramax up 12.68 percent week over week to $2,532 per day on Friday 26 February 2016. Indonesia to India freight rates are expected to be firm / steady this week.

The Brent crude oil prices was up 6.33% closing at $ 35.10 per barrel (as on 26 Feb 2016 was $ 33.01 per barrel). The bunker prices were  almost at same levels closing at $153.50 pmt (IFO 380 cst ex Singapore on 26th Feb 2016).


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Recent News

Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...


Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...


Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...


Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...


Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume  has produced 51.46 Mt in 2015, 8% lower compared to ...


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