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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY


COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 17.76 pct.

BDI
The Supramax and Handy size index was up by about 8 pct and 9 pct respectively. The effect of Chinese back from holidays was seen this week. However it was noticed that the Supramax and Handymax were struggling to find cargoes and ships were fixed at around US$ 16,000 per day for trip via Indonesia to India.

Quite a few period activity was reported on the cape and Panamax vessels.

BDI (Baltic dry index changes (As of 5 March 2010))

BALTIC DRY INDEX CHANGE
 
This week
Last week
Change
Change %
Baltic Dry Index
3242
2738
504
18.40
Baltic Cape Index
3923
3174
749 ↑
23.60
Baltic Panamax Index
4003
3399
604
17.76
Baltic Supra Index
2472
2288
184
8.04
Baltic Handy size Index
1258
1153
105
9.10



The average charter hire was at Cape US$ 37,804 per day, Panamax US$ 32,199 per day, Supramax US$ 25,844 per day and Handy size US$ 18,426 per day.

The supramax index in the Fareast (S6 route) was firm and was by US$ 2,580 per day (up by 13.20 pct) and closed at US$ 22,120 per day. The ECI/China (S7) route continued to remain firm and was up by US$  2,958 per day (up by 6.10 pct) and closed at US$ 35,677 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) was at around Cape US$ 30,000 per day, Panamax US$ 21,500 per day, Supramax US$ 18,500 per day, Handy size US$ 14,000 per day.

There is no indication of slowing sown of iron and coal imports by China and market expected to remain firm next week.

PORT CONGESTION
The congestion at Australian ports in the EC for coal loading continued to be on the rise at 151 vessels (last week 150 vessels). The weather seems to be improving , however the affect of bad weather previously continues. The number of vessels waiting at DBCT and Newcastle was around 60 vessels. The  waiting at DBCT was around 30 days , Hay point - abt 10 days and Gladstone about 12-16 days and Newcastle about 16 days. On the WC Australia  iron ore vessels waiting was at at 20 vessels (last week 23 vessels).

The waiting at Indian ports for coal vessels was quite normal around 3/4 days , except for Paradip and Haldia which are congested. Waiting at Paradip is about 7/8 days. The Indonesian anchorages loading also have been experiencing heavy delays due to logistics and several ships have been waiting for quite long.

CRUDE OIL
The crude prices was firm and the Brent crude prices closed at US$ 80.11 per barrel (last week US$ 77.65 per barrel). The  prices of bunkers also was up at US$ 462 pmts (IFO 380 CST ex. Singapore) on 5th March 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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