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Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE


COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.

However it was interesting to see Cape Index down by almost 10 pct. The BDI had just increased by 24 points last week. Spot Supramax vessel opening far east were seen getting around US$ 18/19,000 per day and for short period around 24,000 per day.  This week most owners were keen to fix on period to take advantage of the firm market sentiment. 

The average charter hire was at Cape US$ 28,378 per day, Panamax US$ 27,326 per day, Supramax US$ 23,927 per day and Handy size US$ 16,872 per day.

BDI (Baltic dry index changes (As of 26 Feb 2010))

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
2738
2714
24
0.88
Baltic Cape Index
3174
3517
343 ¯
9.75
Baltic Panamax Index
3399
3179
220
6.92
Baltic Supra Index
2288
2077
211
10.16
Baltic Handy size Index
1153
1055
98
9.28

The Supramax index in the far east (S6 route) was quite firm and was by US$ 3,660 per day (up by 23 pct) and closed at US$ 19,540 per day. Next seems will also be firm at least beginning of the week. The ECI/China (S7) route moved up quite sharply and was up by US$ 6,667 per day (up by 25 pct) and closed at US$ 33,617 per day. Ships from WC India to china were seen being fixed at healthy levels at around US$ 38/40,000 per day. 

Supramax charter rates for one year is around US$ 19,000/20,000 per day.

THREE YEARS FUTURE
The futures for three years (2010-2012) remained unchanged and was at around Cape US$ 29,000 per day, Panamax US$ 20,000 per day, Supramax US$ 17,000 per day, Handy size, US$ 13,000 per day.

Iron ore and coal imports by China is continuing to be strong and is expected to keep the freight market firm. The coal import by India also is strong and will continue to increase.

PORT CONGESTION
The congestion at Australian ports in the EC for coal loading continued to be on the rise at 150 vessels (last week 143 vessels). The congestion increased due to bad weather and some shippers declaring force majeure. The number of vessels waiting at DBCT and Newcastle was around 60 vessels. The  waiting at DBCT was around 30 days , Hay point and Gladstone 7-10 days and Newcastle about 16 days. On the WC Australia  iron ore vessels waiting was same as last week at 23 vessels (last week 24 vessels).

The waiting at Indian ports for coal vessels was quite normal around 3/4 days.

CRUDE OIL
The crude prices was almost stable and the Brent crude prices closed at US$ 77.65 per barrel (last week US$ 78.37 per barrel). The  prices of bunkers also was up at US$ 455 pmts (ifo 380 cst ex Singapore) on 26th Feb 2010.

FREIGHT FORECAST
CLICK HERE for Vistaar’s forecasted (Terms & Conditions Apply) spot freight rates for coal & Iron-ore cargo for specific routes(cs)
VISTAAR SHIPPING, SINGAPORE



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