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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY


COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.

BDI Index
The cape index also was quite firm and up by 536 points which is quite bug increase over last few weeks and index closed at 5,583 points. The Panamax index also was sharply up by 406 points which is an increase of about 13 pct last week and the index closed at 3,556 points.

There was not much increase in the Supramax and Handysize and closed at 1,888 points and 885 points respectively. The average charter hire was at Cape / US$ 58,627 per day, Panamax / US$ 28,549 per day , Supramax / US$ 19,736 per day and Handysize / US$ 12,700 per day.

Charter Hire
The supramax index in the Far East (S6 route) was quite firm this week at US$ 18,710 per day. The ECI / China (S7) route was also quite firm at US$ 20,075 per day. The Far East / SE Asia market continued to be quite firm this week with most supramax demanding close to US$ 20,000 per day.

Short period rates for Supramax was at US$ 18,500 / 19,000 per day for vessels opening Far East / SE Asia. There a Supramax reported fixed for US$ 16,000 per day for 2 years. There has been quite few Panamax period fixtures reported this week , one year period charter was report at US$ 20,000 per day and 2 year period rate reported at US$ 18,000 per day.

According to Chartering team of Vistaar Singapore, the futures for three years for 2010-2012 is around Cape / US$ 27,000 per day, Panamax / US$ 16,500 per day, Supramax / US$ 14,250 per day & Handysize / US$ 10,750 per day

The iron ore movement seems to be picking up again with vessels reported fixed at US$ 25,000 per day from WC India to China.

"The steam coal movement from Indonesia and South Africa to India remained quite strong" says Capt. Reddy, Managing Director of Vistaar Shipping, Singapore

The congestion in Australia increased to 116 vessels in EC Australia , whereas in the WC Australia the vessels waiting reduced and was only at 9 iron ore vessels.  The berthing delays at DBCT continued to be around 30/40 days and New Castle at 10 days. The congestion in Paradip and Haldia continues to high and uncertain.

Crude Oil
The brent crude prices moved up sharply this week to almost US$ 80 per barrel , however towards the close of week there was bit of softening and was at US$ 75.91 per barrel. The  bunker prices was around US$ 470 pmt for IFO(380 cst) prices ex Singapore.

CLICK HERE for Vistaar’ s forecasted (terms & conditions apply) spot freight rates for coal & Iron-ore cargo for specific routes
(cs)



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