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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
 COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was fairly holding firm" said, Capt. Reddy, Managing Director of Vistaar Shipping, Singapore.
BDI INDEX
The BDI dropped by almost 13 pct by 528 points and close at 3,579 points. Seems the BDI resistance levels is around 4,000 points and will stay around these levels.
The Cape index dropped quite a bit by 22 pct down by 1,462 points and closed at 5,193 points. The Panamax index also softened a bit by about 6 pct by 255 points and closed at 3,673 points. The Supramax index was up marginally by about 2 pct by 47 points and closed at 2,429 points. The handy size continued to stay firm and was up by 5 pct by 58 points and closed at 1,240 points.
The average charter hire was at Cape US$ 53,267 per day , Panamax US$ 29,515 per day, Supramax US$ 25,398 per day and Handy size US$ 17,970 per day.
The Supramax index in the Far East (S6 route) was slightly soft at US$ 23,795 per day. The ECI / China (S7) route was slightly firm at US$ 26,233 per day compared to last week.
Short period rates for Supramax was at US$ 23,000 per day for vessels opening Far East / SE Asia. Supramax charter rates for one year is around US$ 18, 000 per day.
THREE YEARS CHARTER HIRE
The futures for three years (2010-2012) firmed up compared to last week and was at around Cape US$ 28,000 per day, Panamax US$ 17,000 per day, Supramax US$ 15,500 per day, Handy size US$ 11,500 per day.
Capt. Reddy, an experienced ship operator from singapore said, the freight market seems to be coming off a bit and the market may be soft next week. The main effect will depend on the Cape size market. However the Supramax and Handy size may hold firm and may not soften much. The iron and coal demand continues to be strong and is expected to remain firm. There could be slight slowing down during the year end Christmas/New Year holidays.
PORT CONGESTION
There was not much change in waiting at Australian ports. The congestion in India especially on the east coast of India eased and the maximum waiting was around 6/7 days.
CRUDE PRICE
The Brent crude prices dropped sharply to US$ 71.81 per barrel . The bunker prices during the week remained soft for IFO 380 at US$ 452 per MT ex. Singapore.
FREIGHT FORECAST
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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Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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