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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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Friday, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- White Energy Company Limited
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
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