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Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
 COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limited of Singapore, said to COALspot.com.
Vistaar, a ship operator from Singapore,further said, Over the last 2 weeks the BDI is up by 40 pct and almost up by 300 pct since the lows of 2008. The BDI ended this week at 2544 which is an increase of 352 points over last one week. The demand for ships has been quite good in all regions and the vessels enjoyed healthy charter rates.
The main reason for the increase in the freight market seems to be huge imports of iron ore and coal by China. China has imported in excess of 50 million tons of iron ore in April alone, which seems to be the main reason for the increase in the freight market. It will be interesting to see if the same momentum is maintained.
The spot supramax demand was quite firm for cargoes out of Indonesia and have been demanding US$ 15,000 / 18,000 per day depending on the position for trips to India and Pacific round voyages.
"The market is expected to remain firm over next week" - Capt. Reddy, MD, Vistaar Shipping
The iron ore exports from India has been steady and supramax ships were being fixed at around US$ 15000 / 17000 per day. There is pressure to ship out maximum iron ore cargoes out of WC India before monsoons. The week also saw quite a few supramax vessels ballasting to South America from India / PG range fixed at around US$ 15000 per day.
The bunker prices remained firm with brent crude at US$ 58 / 59 per barrel and the IFO prices ex Singapore touching US$ 355 pmt levels.
The short period (4/6 months) rates for larger supramax is around US$ 15000 / 16000 per day in Far east / SE Asia region future. One year period rate for supramax reported at US$ 13000 / 13500 per day with delivery India / Far east region.
The indicative spot freight rates forecasted by VISTAAR SINGAPORE on Supramax as follows:
Coal
Indonesia / East Coast (EC) India : US$ 13.00 / 13.50 pmt
Indonesia / West Coast (WC) India : US$ 16.50 / 17.00 pmt
Richards Bay / Est Coast (WC) India : US$ 16.00 / 17.00 pmt
Richards Bay / East Coast (EC) India : US$ 17.50 / 18.00 pmt
Queensland / East Coast (EC) India : US$ 19.00 / 19.50 pmt
Iron Ore
WC India / N.China : US$ 15.00 pmt
EC India / N.China : US$ 14.00 pmt
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Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- Energy Link Ltd, New Zealand
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- South Luzon Thermal Energy Corporation
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- Metalloyd Limited - United Kingdom
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Minerals Council of Australia
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- Goldman Sachs - Singapore
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- Parliament of New Zealand
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- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
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- Ministry of Mines - Canada
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- Mintek Dendrill Indonesia
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- Planning Commission, India
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- Jaiprakash Power Ventures ltd
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- Commonwealth Bank - Australia
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- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
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- Agrawal Coal Company - India
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- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
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- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
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- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
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- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
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- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Cement Manufacturers Association - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Tamil Nadu electricity Board
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- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
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