Coal news and updates

The Panamax Market has remained weak this week

The freight market continued to be buoyant with cape index pushing the BDI.

The BDI was up 10.49% and closed at 1200 points on 7 August 2015. The Cape Index was up 32.48% closing at 2512 points. The panamax market has remained weak this week and index fell 10.20% closing at 1021 points this Friday.

The supramax index and handy size index were slightly up to 904 points (up 0.55%) and 438 points (up by 2.33%) respectively.

The Iron ore imports into China continues to be strong pushing cape size charter rates above $18000 per day. Rates for Capesize bulk carriers could continue to firm coming few weeks.

The supramax charter rates for Indonesia to India were rating around $8500-9000 per day passing Singapore. Panamax vessels were rating around $6000 per day delivery Shanghai.

Next week’s freight rates are expected to be steady compared to this week.

The Cape average charter rate was at $18250 per day, Panamax was $8127 per day, Supramax $9457 per day and Handy size $6444 per day.

The futures for three years (2015-2018) were at around $ 15000 per day for Cape, $ 8500 per day for Panamax, $ 8500 per day for Supramax and $7000 per day for Handysize.

The S8 route for supramax was down 1.46 pct closed at $6956 per day (last week $7059 per day). Freight rates from Indonesia to India is expected to be steady.

The Brent crude oil prices was soft and down by 6.90 pct closing at $ 48.61 per barrel week  over week (last week $ 52.21 per barrel). The bunker prices was soft and closed at $264.00 pmt (IFO 380 CST ex.Singapore on 7th July 2015).

Baltic Dry Index (BDI) - UP
Cape index (BCI) - UP
Panamax index (BPI) - DOWN
Supramax index (BSI) - UP
Handy index - UP
(as of week ended 7 August 2015 (week on week changes))

source: http://coalspot.com