Coal news and updates

The Dry Bulk Market undoubtedly remains weak and volatile this week

The BDI slipped further down this week, moving closer to 900 level. This week’s BDI falls 9.15 pct and closed at 903 points. While, the cape index lost around 31.30 pct to 1071 points on 28 August 2015. The Panamax index was closed at 974 points after losing 7.59 pct.  The Supramax index was almost flat week over week or uo just 0.54 percent to 925 points. The handy size index was up by 3.45 pct closing at 480 points.

The Iron Ore imports into china seems to be slowing down and rates for Capes remained on a free fall this week. The average charter rates of cape were reported at around $ 7000 per day this week.

The Supramax charter rates for Indonesia to India were rating around $ 8000 per day passing Singapore, while the Panamax vessels were rating around $ 6000 per day delivery shanghai.

Next week freight rates are expected to be flat to soft next week.

The Cape average charter rates were  reported at around $ 7179 per day this week, Panamax at $ 7766 per day, Supramax at $ 9669 per day and Handy size at $ 6999 per day.

The futures for three years (2015-2018) were reported for cape at around $ 14,000 per day around US$ 7000 per day higher than the current level of charter rates. The Panamax was reported at $ 8500 per day around US$ 2000 per day. The Supramax was reported at around $ 8500 per day and Handy size at around $ 7000 per day.

The S8 route for Supramax was slightly down up by 2.85 pct closing at $ 6503 per day (last week $ 6694 per day). Freight rates from Indonesia to India is expected to be flat to soft

The Brent crude oil prices was sharply increased this week or up 10.09 pct closed at $ 50.05 per barrel (last week $ 45.46 per barrel). The bunker prices were slightly down  and closed at $ 227.50 pmt (IFO 380 cst ex Singapore on 28th Aug 2015).

Baltic Dry Index (BDI) - DOWN
Cape index (BCI) - DOWN
Panamax index (BPI) - DOWN
Supramax index (BSI) - DOWN
Handy index - UP
(as of week ended 28 August 2015 (week on week changes))

source: http://coalspot.com