Indonesia to India Freight likely to remain soft

Saturday, 29 October 11

The market continued to slow down and all segment were down this week.

The biggest drop was in the Cape Index down by 8.19 pct followed by Panamax index down by 4.29 pct. The Supramax and handy size index was marginally down by about 1 pct. The BDI was down by 6.27 point and closed at 2,018 points.

“The short period rates for Panamax remained firm at around $ 14,000 per day. However no short period candidates reported on Supramax”, said Capt. Reddy, Director of Vistaar Shipping Singapore. Vistaar shipping is an experienced ship operator, operating out of Singapore.

Charter rates for Supramax delivery N. China for trips via Indonesia were reported around $ 9,000-10,000 per day. The freight rate from Indonesia to India likely to remain soft next week.

According to Vistaar Shipping of Singapore, the average charter rates was at Cape/$ 28,214 per day , Panamax/$ 15,521 per day , Supramax/$ 16,155 per day and Handy size/$ 11,254 per day.

The Supramax index in the feast (S6 route) was down by 10.30 pct and closed at $ 12,086 per day (last week $ 13,474 per day). The EC India/China (S7 route) was also down by7.92 pct and closed at $ 10,142 per day (last week $ 11,015 per day). The S6 and S& route likely to remain soft next week.

The futures for three years (2011-2013) was at around Cape/$ 16,000 per day, Panamax/$ 13,500 per day, Supramax/$ 13,500 per day , Handy size/$ 10,500 per day.

The congestion in EC Australia increased to 100 vessels this week (last week 92 vessels). The vessels waiting at main coal loading ports were at Hay point/7, DBCT/22, Gladstone/12, Abbot Point/Nil, New Castle/49, Port Kembla/9 vessels. On the WC Australia iron ore vessels waiting was at 37 vessels (last week 44 vessels).

The Brent crude oil prices was almost at same level and closed at $ 110.05 per barrel (last week $ 109.75 per barrel). However bunker prices moved up by almost $ 20 pmt and closed $ 692.00 pmt (last week $ 674.50 pmt) for IFO 380 CST ex Singapore on 28th Oct 2011.

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THE FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PANAMAX & SUPRAMAX PER DAY RESPECTIVELY

Sunday, 06 February 11
With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to last week and was down by about 8 pct and closed at 1,043 points. It will be interesting to see if the BDI will go below 1,000 points. But seems the BDI has almost bottomed out and may not go down much.
The Cape index also was down by about 5 pct and closed at 1,299 points, with the average charter rate at all time low at US$ 5,161 per day. The Panamax index was almost steady and was up just by about 1 pct and closed at 1,348 points. Supramax and Handy size index was also down by about 10 pct and closed at 1,090 points and 643 points respectively.
The cyclonic weather in Queensland and shippers declaring force majeure the situation has added to the market woes. The situation is expected to return to normal in about a week time.
The average charter rates was at Cape/US$ 5,161 per day , Panamax/US$ 10,786 per day , Supramax/US$ 11,398 per day and Handy size/US$ 9,422 per day.
The Supramax index in the feast (S6 route) was down by US$ 404 per day (down by 5.23 pct) and closed at US$ 7,310 per day (last week US$ 7,714 per day). The EC India/ China (S7 route) was down by 128 points (up by 1.11 pct) and closed at US$ 11,370 per day (last week US$ 11,498 per day). The S6 route is likely to be steady/soft next week.
According to Vistaar singapore, the futures for three years (2011-2013) was at around Cape/US$ 20,000 per day, Panamax/US$ 16,500 per day, Supramax/US$ 15,000 per day , Handy size/US$ 10,750 per day.
The congestion in EC Australia was almost same at 107 vessels this week (last week 106 vessels). The vessels waiting at main coal loading ports were at Hay point/17, DBCT/33, Gladstone/10, Abbot Point/2, New Castle/39, Port Kembla/4 vessels. On the WC Australia iron ore vessels waiting increased to 45 vessels (last week 31 vessels).
The waiting at Indian ports for coal vessels was quite normal except for Paradip, Haldia, Kandla where the berthing delays was high with berthing delays of about 10/12 days.
The crude prices firmed up mainly due to Egyptian crisis and Brent crude prices was at US$ 100.12 per barrel (last week US$ 99.31 per barrel). Bunker prices also firmed up sharply and was at US$ 582.00 pmt (last week US$ 552.00 pmt) for IFO 380 cst ex Singapore on 4th Feb 2011.
Reported by Vistaar Shipping, Singapore
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DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS

Tuesday, 25 January 11

With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tumble last week and the BDI and Capesize 4TC are now at their lowest levels for 2 years. Thursday saw the BDI bottom out at 1,438 points, a result mainly of softness in the Cape market. Rising commodity prices indicate there is still good demand for product, which suggests new building deliveries are the main issue affecting rates. After two weeks of 2011, 20 new Capes have been delivered, 9 Panamaxes, 28 Supramaxes, and 21 Handysizes, indicating the pace of delivery is increasing. In the FFA market, 2H 2011 is now trading at around US$21,000 per day compared to US$24,000 six months ago.

Capesize

Another period of softening rates in the Cape market, and the BCI lost a further 15% or 270 points Friday-to-Friday. The Cape 4TC, at just under US$9,700, is now below the time charter equivalent for all the other bulk sizes. Players reported a sharp drop in Australian business, with coal operations still disrupted due to weather factors, and a lacklustre demand for ore. In the period market, it was reported that a 161,000 tonner was taken for 3-5 months at US$13,000 per day. However the sole one-year charter was signed at a BCI index-linked rate. On Monday however the BCI lost just 5 points, raising hopes among owners that the market may be bottoming out.

Panamax

The Panamax 4TC average stayed flat this week and hovered between US$15,300 and US$15,400 per day. However the two basins went in opposite directions. The Pacific showed some resistance due to the number of ballasters going to the USG and ECSA, and ships caught in the congestion in Queensland created some opportunities for the other vessels. The Nopac route gained US$500 and closed the week at US$10,000 per day. West of Suez, in the Atlantic, the market eased by US$1,000 as very few fresh requirements hit the market and the fleet supply end Jan was growing day by day. Regarding the period market, all major operators were quiet and the few ships which went on short period for delivery China or India were getting fixed at US$16,500 per day.

Supramax/Handy

The Baltic Supramax Index has shown a few signs of recovery with most of the routes following a slight upward trend. Delays in the southern part of the Atlantic due to bad weather/congestion have resulted in charterers having to come on the market looking for substitute vessels, of which very few are available. The Baltic gained 48 points to finish at 1,393 points last week, while the average of the TC routes gained US$506 to finish at US$14,570. The US Gulf and the Continent were the drivers of the Atlantic where fewer fixtures were seen from East Coast South America. A Supra delivery west Africa for a trip via Brazil/ Argentina to the Singapore/Japan range was rumoured to have fixed at US$24,000 dop. From the USG, modern Supras were fixed to the Continent around the mid US$20,000s, and to the Singapore/Japan range in the low/ mid to mid US$30,000s. For the smaller sizes, the trend of the Baltic Handysize index has been steady, finishing at 765 points with no difference noted as it had started at 765 points. Only the TC Handysize average showed very minor signs of improvement, as it gained US$25 to finish the week at US$11,129 per day.

For Handies, the driver has been East Coast South America which has been more active than the US Gulf or the Continent (which has seen a few scrap orders back to the east Med), and the Black Sea which remains silent. A couple of Modern Supramaxes ex Far East for 2-4 month periods were fixed between US$12-13,000. The Pacific has continued to weaken with Supramaxes being fixed for backhauls at around US$7,000 ex Taiwan, while ex Japan to Australia/Nopac were fixed around US$7,500.

Source: Barry Rogliano Salles (BRS)