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Monday, 13 February 17
THE FREIGHT MARKET CONTINUED TO TUMBLE IN FEBRUARY
PanamaxCOALspot.com: The Freight market was continued its downfall in all segments except Panamax for the week ending 10 February 2017.

The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week and ending on a negative note week over week. The BDI was down by 6.65% from the last week and Cape Index was also down 29.97% or declined around 294 points week over week.

The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global supply and demand for shipping of commodities was reported down 6.65%  week over week and ended at 702 points on 10 February 2017. The index peaked at 11,793 points in May 2008.

The Cape Index was down by 29.97% week over week. The BCI closed 687 points on 10 February 2017. The Panamax index (BPI) was very slightly up (2.28%) week over week on 10 February 2017. The Supramax index (BSI) was almost flat or up 0.75% to 672 points on 10 February 2017, compared to 667 points on 3 February 2017.

The handy size index was also declined 1.31% and the index was closed at 377 points for the same period.

According to Vistaar India, this past week’s daily average earnings for Supramax, for the route Indonesia to India passing through Singapore was flat week over week, owners were rating at around US$ 7000-7500 per day,  while the Panamax vessels rated at around $ 6000 per day delivery Shanghai area.

The freight rates are expected to be flat/steady this week.

The futures for three years (2017-2020) for the ships were reported higher than the current spot rates the ships were earning.  The Cape-size ships were at US$ 11000 per day, the Panamax at US$ 8,500 per day, Supramax at US$ 7,500 per day and Handysize at US$ 7000 per day. No change from last week reported three years future rates.

The Brent crude oil price was closed at US$ 56.70 per barrel, almost same from last week closing. The bunker prices were closed at US$ 327.50 pmt (IFO 380 CST ex. Singapore on 10 February 2017) slightly down week over week.

Ex. Singapore bunker prices rose 94.32% year on year and declined 5.92% year to date.

Baltic Dry Index (BDI) -  DOWN
Cape index (BCI) -  DOWN
Panamax index (BPI) - UP
Supramax index (BSI) - UP
Handy index - DOWN  
(as of week ended 10 February 2017 (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 the 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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