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Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
PanamaxCOALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.

The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week over week. The BDI was down by 7.20% from the last week and Cape Index declined 2.79% or decreased 51 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 decreased 7.20%  week over week and ended at 1109 points on 28 April 2017. The index peaked at 11,793 points in May 2008.

The Cape Index was down by 2.79% week over week. The BCI closed 1779 points on 28 April 2017. The Panamax index (BPI) was also decreased (20.55%) week over week.

The Supramax index (BSI) declined slightly 3.8% to 861 points on 28 April 2017, compared to 895 points on 21 March 2017. The handy size index was rose 2.78% and the index was closed at 559 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 has stayed the soft week over week, owners were rating at around US$ 9500-8500 per day,  while the Panamax vessels rated at around $ 10500-11000 per day delivery Shanghai area.

Vistaar further noted that the futures for three years (2017-2020) for the ships were reported slightly higher (for big size ships) than the current spot rates that ships were earning. The Cape-size ships were at US$ 15500 per day, the Panamax at US$ 11000 per day, Supramax at US$ 9000 per day and Handysize at US$ 8000 per day, slightly lower for
Panaamx while flat for other ships compared to last week’s rates.

The freight rates are expected to be flat to soft this week, says
Vistaar India.

The Brent crude oil price was closed at $ 51.73 per barrel slightly lower than the same period last week. The bunker prices were closed at $306.50
pmt (IFO 380 CST ex. Singapore on 28 April 2017). The IFO 380 bunker price declines 2.54 percent week over week while fell 11.41 percent Year to Date.

The IFO 380 bunker price rose 40.91% year over year.

Baltic Dry Index (BDI) - DOWN
Cape index (BCI) -  DOWN
Panamax index (BPI) - DOWN
Supramax index (BSI) - DOWN
Handy index - UP  
(as of week ended 28 April 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)


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