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Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
PanamaxCOALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.

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 10.37% from the last week and Cape Index declined 16.81% or decreased 299 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 10.37%  week over week and ended at 994 points on 5 May 2017. The index peaked at 11,793 points in May 2008.

The Cape Index was down by 16.81% week over week. The BCI down 299 points to 1480 on 5 May 2017. The Panamax index (BPI) was also decreased (13.82%) week over week.

The Supramax index (BSI) declined slightly 5.81% to 811 points on 5 May 2017, compared to 861 points on 28 April 2017. The handy size index was also declined 6.44% and the index was closed at 523 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 flat/steady week over week, owners were rating at around US$ 9500-8500 per day,  while the Panamax vessels rated at around $ 10,500-11,000 per day delivery Shanghai area.

Vistaar further noted that the futures for three years (2017-2020) for the ships were reported slightly higher than the current spot rates that ships were earning. The Cape-size ships were at US$ 15,000 per day, the Panamax at US$ 11,000 per day, Supramax at US$ 9,000 per day and Handysize at US$ 8,000 per day.

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

The Brent crude oil price was closed at $ 49.10 per barrel lower than the same period last week.

The bunker prices were closed at $304.50 pmt (IFO 380 CST ex. Singapore on 4 May 2017). The IFO 380 bunker price declines 0.32 percent week over week while fell 11.99 percent Year to Date. The IFO 380 bunker price has increased 40.64% compared to same period last year.

Baltic Dry Index (BDI) - DOWN
Cape index (BCI) -  DOWN
Panamax index (BPI) - DOWN
Supramax index (BSI) - DOWN
Handy index - 
DOWN  
(as of week ended 5 May 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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