AGL 38.20 Increased By ▲ 0.05 (0.13%)
AIRLINK 129.30 Increased By ▲ 4.23 (3.38%)
BOP 7.85 Increased By ▲ 1.00 (14.6%)
CNERGY 4.66 Increased By ▲ 0.21 (4.72%)
DCL 8.35 Increased By ▲ 0.44 (5.56%)
DFML 38.86 Increased By ▲ 1.52 (4.07%)
DGKC 82.20 Increased By ▲ 4.43 (5.7%)
FCCL 33.64 Increased By ▲ 3.06 (10.01%)
FFBL 75.75 Increased By ▲ 6.89 (10.01%)
FFL 12.83 Increased By ▲ 0.97 (8.18%)
HUBC 110.72 Increased By ▲ 6.22 (5.95%)
HUMNL 14.03 Increased By ▲ 0.54 (4%)
KEL 5.22 Increased By ▲ 0.57 (12.26%)
KOSM 7.69 Increased By ▲ 0.52 (7.25%)
MLCF 40.08 Increased By ▲ 3.64 (9.99%)
NBP 72.51 Increased By ▲ 6.59 (10%)
OGDC 189.18 Increased By ▲ 9.65 (5.38%)
PAEL 25.74 Increased By ▲ 1.31 (5.36%)
PIBTL 7.38 Increased By ▲ 0.23 (3.22%)
PPL 153.45 Increased By ▲ 9.75 (6.78%)
PRL 25.52 Increased By ▲ 1.20 (4.93%)
PTC 17.92 Increased By ▲ 1.52 (9.27%)
SEARL 82.50 Increased By ▲ 3.93 (5%)
TELE 7.63 Increased By ▲ 0.41 (5.68%)
TOMCL 32.50 Increased By ▲ 0.53 (1.66%)
TPLP 8.48 Increased By ▲ 0.35 (4.31%)
TREET 16.74 Increased By ▲ 0.61 (3.78%)
TRG 56.01 Increased By ▲ 1.35 (2.47%)
UNITY 28.85 Increased By ▲ 1.35 (4.91%)
WTL 1.34 Increased By ▲ 0.05 (3.88%)
BR100 10,659 Increased By 569.2 (5.64%)
BR30 31,331 Increased By 1822.5 (6.18%)
KSE100 99,269 Increased By 4695.1 (4.96%)
KSE30 31,032 Increased By 1587.6 (5.39%)

Freight rates for hauling grains from the United States to Asia fell for a second week due to less demand for shipping coal and grains, freight brokers said on Friday. "The demand side of things has slowed down," said one broker.
Rates had been marching steadily higher for weeks and have increased about 50 percent since the start of the year. Record high freight rates were fuelled by strong demand from China and India and port congestion in Australia.
This week, spot rates for a modern double-hulled Panamax vessel starting on the European continent and sailing from the US Gulf to Japan were pegged at about $50,000 a day, compared with $55,000 last week, the brokers said. One vessel already at the Gulf was booked for $48,000 a day with a ballast bonus of $800,000.
The freight rates equalled roughly $76 per tonne of grain, down from $78 to $79 a week ago, a broker said. Panamax rates for shipping grain from the US Pacific Northwest to Japan were $40,000 a day, roughly unchanged from last week. During the past week, rates got as low as $38,500 a day before rebounding to $40,000.
A daily rate of $40,000 roughly equalled $48 to $49 per tonne of grain, the brokers said. The United States is the world's largest exporter of corn, soybeans and wheat.
The Baltic Exchange's Dry freight index rose 12 points, or 0.2 percent, on Friday to 5,983 - one of its few increases in the last two weeks. The index, which tracks shipping goods such as grains, coal, iron ore and sugar on major export routes, has fallen 10.5 percent since it hit an all-time high of 6,688 in mid-May.

Copyright Reuters, 2007

Comments

Comments are closed.