Coal news and updates

Panamax Index rose over 13% past week

The freight market was up on all segments this past week. The BDI was advanced 3.56% and closed at 610 points. The Cape Index was climbed 6.79% week over week and closing at 865 points .

The Panamax index soars 13.74% for the same period and the highest increase compared to other sectors. The Panamx was closed 596 points on 5 June 2015. The Supramax index rose 1.39% week over week to 656 points while the handysize index was almost at the same levels and closed at 332 points.

In the Far East/Se Asia the freight rates were steady this week. The Supramax charter rates delivery Singapore were around $8000-8500 per day for a trip via Indonesia to India, while owners demanding a premium for a trip to WC India.  The Panamax charter rates were soft and ships were rating around $ 4500 delivery mid china for a trip via Indonesia to India.

The Freight rates are expected to be steady next week.

The average charter rate for Cape was reported at around $4388 per day during last week while, Panamax was at $4764 per day, Supramax at $6857 per day and Handy size at 4889 per day.

The futures for three years (2015-2017) were reported at around $12000 per day for Cape, $8500 per day for Panamax, $8500 per day for Supramax , and US$ 7500 per day for Handy Size.

The S8 route for supramax escalate by 2.20% and closed at $6279 per day (last week $6144 per day) for this past week. The freight rates from Indonesia to India is also expected to be steady to firm next week.

The Brent crude oil price was decline by 5.38% and closed at $ 62.03 per barrel (last week it was at $65.56 per barrel). The bunker prices were soft and closed at $355.50 pmt (IFO 380 CST ex Singapore on 5th June 2015).

Baltic Dry Index (BDI)  - UP
Cape index (BCI) - UP
Panamax index (BPI) - UP
Supramax index (BSI) - UP
Handy index - UP
(as of week ended 5 June 2015)

source: http://www.coalspot.com