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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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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- MS Steel International - UAE
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
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