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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
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