Coal news and updates

Indonesia to India Panamax charter rates at around US$ 5500

The freight market softened in all segments this past week.

The BDI was dropped 7.57 percent week over week and closed at 586 points on Friday while the Cape index was fell 14.46 percent and closed at 816 points.

The Panamax index was also lost 3.68 pct to 549 points week over week. The supramax and handysize indices were almost stable and closed at 627 points and 327 points respectively.

In the Far East/SE Asia the freight rates were steady with supramax charter rates delivery Singapore was around US$ 8000-8500 per day for trip via Indonesia to India.

The Panamax charter rates were steady and ships were rating around US$ 5500 delivery China for a trip via Indonesia to India.

Freight rates are expected to be steady next week.

The average charter rate for Cape reported at around US$ 4351 per day, Panamax at around US$ 4391 per day , Supramax at around US$ 6559 per day and Handy size at around US$ 4825 per day this weeek.

The futures for three years (2015-2017) was at around Cape/US$ 12000 per day, Panamax/US$ 8500 per day, Supramax/US$ 8500 per day , Handysize/US$ 7500 per day.

The S8 route for supramax was steady this week and its was up 2.74 pct closing at US$ 5931 per day (last week US$ 5773 per day). Freight rates from Indonesia to India is expected to be steady to flat soft next week.

The Brent crude oil prices was firm and  down by 1.80 pct closing at US$ 65.37 per barrel (last week US$ 66.59 per barrel). The bunker prices was firm and closed at US$ 376.50 pmt (IFO 380 cst ex Singapore on 22nd May 2015).

source: http://www.coalspot.com