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Saturday, 30 May 09
THE CHINESE IMPORTS OF IRON ORE,COAL AND NICKEL ORE SEEMED TO BE STEADY - VISTAAR SINGAPORE


COALspot.com (Singapore): VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore,said, the Baltic index rally continued this week with BDI and Cape index maintaining the moment. The BDI  had risen much higher than previous week and ended at 3494 points.

The Cape size sector was also quite firm with a increase of 1782 points and the BCI ending at 6125 points.

The Panamax gained 531 points where as Supramax was fairly stable ending 7 points lower than last week. The Supramax Indonesia/Aussie to India has been under pressure and this sector was down by about usd 613 per day compared to beginning of the week. There has been hectic activity on period charterers and it seemed many owners were keen to make use of the rising market and fix on period.

The average charters at the closing of the week is Cape / US$ 67,723 pday; Panamax / US$ 23,242 pday and Supramax / US$ 19,144 pday.

The Chinese imports of iron ore/coal and nickel ore seemed to be steady. Also it seems the coal demand to India also is likely to pick up with some large tenders floated for huge quantities of imported coal. There quite a few cargoes of fertilizer movement from China and other Countries to India which is likely to continue for next 2/3 months. With isgnifican increase of prices on all commodity prices in general indicates that the demand is increasing and the cargo movement is looking good and the freight market seems would be fairly steady and firm for next few weeks.

The bunker prices continued to rise with brent crude reaching US$ 66 per barrel and the IFO prices ex Singapore touching US$ 380 pmt levels.

" The short period (4/6 months) rates for larger supramax and for the balance of 2009 is expected around US$ 15,500/16000 per day with delivery Far east / SE Asia region future"
said, Capt. Reddy, Vistaar Shipping, Singapore

One year period rate for supramax reported at around US$ 15,000 per day with delivey India / Far east region.

The forward freight rates for 3/5 months is expected to be around the same as the below indicated spot rates, unless there are some major changes with china’s imports.

The indicative spot freight rates on Supramax as follows:

Coal

- Indonesia / East Coast  India       : US$ 13.00 / 13.50 pmt
- Indonesia / West Coast  India      : US$ 16.00 / 16.50 pmt
- Richards Bay / West Coast India : US$ 17.50 / 18.00 pmt
- Richards Bay / East Coast India  : US$ 18.50 / 19.00 pmt
- Queensland / East Coast India    : US$ 19.50 / 20.00 pmt

Iron Ore

- WC India / N.China                         : US$ 15.00 / 15.50 pmt
- EC India / N.China                          : US$ 13.50 / 14.00 pmt



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