Coal news and updates

BDI weighed down by cape

The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving dry bulks across ocean in the spot market.

On 9 October 2015, the Baltic Dry Index stood at 809, down 80 points (-9%) from last Friday.

The Cape size vessels is also experiencing weakness, dropping 382 points from 1931 points over the same period. The weakness in the Cape Index suggests high supply and weak demand, as a consequence, it’s dragging down the performance of the overall Baltic Dry Index this week.

However the Panamax index was up 8.56 per cent week over week to 761 points on 9 October 2015. The Supramax and Handy size indices were also weaken to  669 points (down 3.18 pct) and 380 points(down 3.06 pct) respectively for the same period.

The Supramax charter rate for Indonesia to India was rated at around US$ 7500 per day for a ship passing through Singapore this week. In the meantime, the Panamax vessels were rated at around US$ 6500 per day delivery Shanghai.

Freight rates are expected to be steady next week.

The Cape size average charter rates were reported at around US$ 9792 per day this week and US$ 6102 per day for Panamax.  The Supramax and Handy size average charter rates were reported at around US$ 6995 and US$ 5506 per day respectively.

The three years (2015-2018) future were reported at around US$ 14000 per day for Cape (around US$ 4208 higher compared to spot average rates), US$ 8500 per day for Panamax (around US$ 2398 higher compared to spot average rates) , US$ 8500 per day (around US$ 1505 higher compared to spot average rates) for Supramax and for US$ 7000 per day (around US$ 1494 higher compared to spot average rates)  for Handy size.

The S8 route for Supramax was shows a increase of 2.67 pct week over week to US$ 5536 per day compared to last week’s closing rate of US$ 5392 per day.

The Freight rates from Indonesia to India is expected to be soft next week.

The Brent crude oil prices was up 9.39 per cent week over week to US$ 52.65 per barrel (last week US$ 48.13 per barrel). The bunker prices was almost at same levels closing at US$ 253.50 pmt (IFO 380 cst ex Singapore on 9th Oct 2015).

Baltic Dry Index (BDI) - DOWN
Cape index (BCI) - DOWN
Panamax index (BPI) - UP
Supramax index (BSI) - DOWN
Handy index - DOWN
(as of week ended 9 October 2015 (week on week changes))

source: http://coalspot.com