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Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE


COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared to last week, Capt. Reddy says.

The BDI was marginally up by 1.02 pct and the Cape index was up by 6.48 pct. The Panamax index was down by 3.97 pct and closed at 1,791 points, whereas the Supramax and handy size index was down by about 1 pct.

Supramax delivery Far east have been reported fixed around US$ 12,500-13,000 per day for single trips. Short period rates on Supramax were seen reported around US$ 14,000 per day . The freight market is likely to be soft next week.

The iron imports by China seems to be slowing with the prices of iron ore softening. However the coal imports by China is likely to increase and is expected that the market may be fairly stable. The sale of second hand of ships remained fairly good and prices were holding firm , which seems to show many owners are bullish on the market.

The average charter rates was at Cape/US$ 11,773 per day , Panamax/US$ 14,360 per day , Supramax/US$ 15,004 per day and Handy size/US$ 11,365 per day.

The Supramax index in the far east (S6 route) softened as expected by 3.12 pct and closed at US$ 12,832 per day (last week US$ 13,345 per day). The EC India/China (S7 route) also softened by 2.07 pct and closed at US$ 12,738 per day (last week US$ 13,008 per day).  The S6 and S7 routes likely to be soft next week.

The futures for three years (2011-2013) was at around Cape/US$ 15,000 per day, Panamax/US$ 14,000 per day, Supramax/US$ 13,500 per day , Handy size/US$ 10,500 per day.

The congestion in EC Australia increased sharply up and was at 49 vessels this week (last week 67 vessels). The vessels waiting at main coal loading ports were at Hay point/1, DBCT/16, Gladstone/8, Abbot Point/Nil, New Castle/23, Port Kembla/1 vessels.

On the WC Australia iron ore vessels waiting also increased to 32 vessels  (last week 37 vessels).

The Brent crude oil prices increased slightly and was up by 0.887 pct and closed at US$ 116.00 per barrel (last week US$ 114.98 per barrel). Bunker prices also firmed up and was at US$ 659.00 pmt (last week US$ 646.50 pmt) for IFO 380 cst ex Singapore on 3rd June 2011.

Click here for Vistaar’s forecasted (terms & conditions apply) spot freight rates for coal & Iron-ore cargo for specific routes (cs)



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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
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Tuesday, 26 July 11
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Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
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Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
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Sunday, 24 July 11
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