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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
 COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high this week at 4,507 points with all other index also going up this week. The BDI increased this week by 396 points up by 9.6 pct. The increase on cape index this week was 359 points up by 5 pct. The Panamax index also maintained the momentum as last week and increased by 466 points up by 11.2 pct and closed at 4,424 points. The Supramax index was up by 340 points up by 16 pct and closed at 2,487 points. The handysize index increased by 118 points up by 12 pct and closed at 1,088 points.
The average charter hire was at Cape / US$ 81,567 per day, Panamax / US$ 35,597 per day , Supramax / US$ 26,009 per day and Handysize / US$ 15,703 pday.
The supramax index in the Far East (S6 route) was quite firm this week at US$ 25,563 per day which is up by almost 22 pct compared to last week. The ECI / China (S7) route was quite firm at US$ 26,735 per day which is up by almost 16 pct compared to last week.
Short period rates for Supramax was at US$ 25,000/26,000 per day for vessels opening Far Eeast / SE Asia. Supramax charter rates for one yea is around US$ 19,000 / 20,000 per day.
THREE YEARS FUTURE
The futures for three years (2010-2012) was almost same as last week and was around Cape / US$ 30,000 per day, Panamax / US$ 17,500 per day, Supramax / US$ 15,500 per day, Handysize / US$ 11,500 per day.
According to data from the World Steel Association, October world crude steel production hit a 14-month high of 112.2 Mt, posting a 13% increase year-on-year. This is the second month in a row when global steel output represented a year-on-year increase. The majority of this increase was due to China and the CIS, which registered growth of 42.4% and 26.9% year-on-year with monthly production at 51.7 Mt and 9.0 Mt respectively.
The Baltic Exchange's main sea freight index, which hit a fresh 2009 high this week, should no longer be seen as an accurate gauge of the world economy, but rather a measure of reviving Chinese industrial activity. With about 90 percent of the world's traded goods by volume transported by sea, a resurgence in seaborne freight movement would be a major sign of a world economic recovery.
Indeed, lately, the Baltic index (BDI), which gauges the cost of shipping resources, including iron ore, cement, grain, coal and fertiliser, has been climbing and hit a new 2009 high this week. But analysts and shipping industry officials said the rise in the index was driven by Chinese demand for iron ore, coal and grains, as well as rising port congestion in Australia and China, and did not necessarily bode for a broader world recovery.
'It is not really Japan, European or other Asian demand that is driving this (rally). It continues to be China,' Martin Sommerseth Jaer, analyst with Arctic Securities, said.
The main index, which was launched in 1985, has remained volatile this year due to swings in demand by China for iron ore -- the primary material in the manufacture of steel.
'Last year, the BDI did work quite effectively as a global economic indicator,' Peter Malpas, group research manager with shipbroker Braemar Seascope, said. 'This year it definitely has not.' The Baltic Exchange said it had never set out to provide economic insight and analysis through the main index, 'but an independent and accurate view' of the cost of moving dry bulk commodities such as iron ore and coal by sea.
'With so many factors coming into play and driving freight rates, what these figures mean for the wider economy is for economists to decide,' a Baltic Exchange spokesman said.
FLEET STRENGTH
Strong appetite for iron ore and coal in India and China and other industrial activity helped push the Baltic index to a record high in May 2008 of 11,793. But global turmoil, compounded by a reduction in demand for raw materials, manufactured goods and consumer products drove it back down to as low as 663 in December.
The volatility this year on the main index has been also been driven by the availability of large capsize ships, typically hauling 150,000 tonne cargoes such as iron ore and coal, rather than signals of appetite for raw materials from the wider economy.
In June and November, when the main index rallied, port congestion in China, as well as at coal ports in Australia, tightened the availability of ships, helping to sustain gains.
'The BDI is a reflection of both supply and demand. At the moment, it is being led up by the capes. Clearly congestion has returned,' Nigel Prentis, head of research, consulting and advisory with HSBC Shipping Services Ltd, said.
Analysts say a major factor that is likely to weaken the BDI's connection with the world economy in the coming months is the rising number of new ships set to hit the market in 2010, despite indications of some vessel cancellations and delays.
Shipbroker SSY has estimated net fleet growth in the dry bulk sector of around 40 million deadweight tonnes (dwt) this year versus around 27 million dwt in 2008.
'Trying to look at the BDI as a forward indicator of global demand recovery is a bit risky because we have this supply overhang and that will obviously play a big part in the BDI going forward,' HSBC's Prentis said.
Analysts said the BDI needed a relatively stable fleet level and global commodity demand not just from China for the index to reflect world activity.
'What we could witness particularly in the second half of next year when the majority of ships are delivered is the global world economy going up, but the BDI coming down because the BDI will be reflecting the growing size of the fleet,' Braemar Seascope's Malpas said. 'As the fleet grows, the supply side of the market increases and that creates a lower utilisation of the fleet which will obviously reduce freight rates.'
Malpas said it could be two or three years before the fleet profile would stabilise.
'Obviously not too many new orders will be coming out of the yards post 2012, we may get another period when the BDI is essentially being driven solely by commodity demand,' he said. (Source : Reuters)
The congestion in Australia increased to 124 vessels in EC Australia with maximum waiting at DBCT 30/40 days , whereas Haypoint was around 10/12 days and Newcastle was around 14/16 days. The waiting at WC Australia for iron ore was at 9 vessels.
CRUDE OIL
The brent crude prices remained firm this week at US$ 77.55 per barrel . The bunker prices during the week touched for IFO 380 cst at US$ 475 pmt, however the prices softened by Friday 20th Nov at around US$ 466 pmt for IFO (380 cst) prices ex Singapore.
FREIGHT FORECAST
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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Thursday, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
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