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Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
 COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. The cape index dropped by about 14% and the BCI index closed at 4,030 points. The Panamax index was down by about 6% and closed at 2,244 points.
The Suprmax and Handysize index was almost stable and closed at 1,733 points and 823 points respectively. The average charter rate were at Cape / US$ 38,923 , Panamax/ US$ 18,023, Supramax / US$ 18,119 and handysize / US$ 11,927.
"The BDI is likely to be holding around 2,500 points" said Capt. Reddy, Managing Director of Vistaar Shipping Services Pte Limited, Singapore.
He further said, the main reason for pull back seems to be sudden drop of iron ore prices and the charter rates down in the India / Far East sector.
The iron ore import by China in July was quite impressive at 58.8 million tons and also the coal import stood at 13.88 million tons. China has maintained the momentum on import of iron ore and coal until July 2009. The iron ore prices ex India dropped by almost US$ 20 pmt in less than 2 weeks which seems to be because of China slowing down on iron ore imports.
The global steel production reached 100 million tons in July 09 for the first time since September 2008 with strong growth registered for July 09 in China (+13% to 50.7 Mt) and India (+4% to 4.7 Mt).
The congestion in Australia seems to be increasing again with about 120 coal vessels waiting EC Australia and 19 iron ore vessels waiting WC Australia. The congestion in EC India Paradip and Visakhapatnam continues to be high with almost about 10/14 days waiting. Iron ore ports in Australia , Brazil and China indicate about 123 vessels (including coal ports in Australia) waiting to berth.
The charter rates for supramax opening Far East was at around US$ 13,000 per day. The Supramax rates from India to China was at around US$ 20,000 / 21,000 per day. One year charter rates for Supramax was at around US$ 16,500 / 17, 000 per day and short period rates for vessels opening Far East. South East Asia was around US$ 17,000-18,000 pr day.
Two / Three year charter rates is around US$ 15,000-16,000 per day said, Vistaar Shipping. The futures for three years for 2010-2012 is around Cape / US$ 26,000 pday, Panamax / US$ 15,500 per day, Supramax / US$ 13, 500 per day, Handysize / US$ 10,000 pday.
The crude prices continued to remain firm during the week with brent crude at US$ 74 per barrel and the bunker prices continued to be around US$ 442 pmt for IFO(380 cst) prices ex Singapore.
Click here for Vistaar's forecasted (indicative) spot freight rates for coal & iron-ore cargo for 11 specific routes. (cs)
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Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
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- Aditya Birla Group - India
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- Holcim Trading Pte Ltd - Singapore
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- Xindia Steels Limited - India
- SMC Global Power, Philippines
- MS Steel International - UAE
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Mintek Dendrill Indonesia
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- Ministry of Mines - Canada
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- Pendopo Energi Batubara - Indonesia
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- The State Trading Corporation of India Ltd
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
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- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
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- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
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- Eastern Energy - Thailand
- New Zealand Coal & Carbon
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- Tamil Nadu electricity Board
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- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
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- Therma Luzon, Inc, Philippines
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- Kohat Cement Company Ltd. - Pakistan
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- Leighton Contractors Pty Ltd - Australia
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- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Minerals Council of Australia
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- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
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- Global Coal Blending Company Limited - Australia
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- Sindya Power Generating Company Private Ltd
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- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
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- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
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- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
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