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Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
PanamaxThe freight market softening to continue.  Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.

The Baltic Exchange, tracking rates for ships carrying dry bulk commodities fell this past week and ending on a negative note week over week. The capesize index was down 92 point and reached to 1065 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 3.74% week over week and ended at 1080 points on 29 March 2018. The index peaked at 11,793 points in May 2008.

The Cape Index was down by 7.95% week over week and the Panamax Index (BPI) fell 4.22 per cent followed by 2.5 per cent Supramax week over week.

The handy size index was slightly up week over week. Handy size Index up 1.4% and closed at 650 points .

According to Vistaar India, this past week’s daily average earnings for Supramax, for the route Indonesia to India has stayed firm, week over week, owners were rating at around US$ 11,500 per day delivery South china,  while the Panamax vessels were rated at around 12000-12500 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$ 18000 per day, the Panamax at US$ 13,500 per day, Supramax at US$ 12,500 per day and Handy size at US$ 9,000 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 $70.27 per barrel.

The bunker prices according to ship & Bunker, were closed at $382 pmt (IFO 380 CST ex. Singapore on 30 March 2018). IFO 380 Prices up 0.52% week over week, up 2.00% month over month and up 26.28% year on year.


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