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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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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Planning Commission, India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Economic Council, Georgia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
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