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Saturday, 11 July 09
THE IMPORT OF STEAM COAL FROM INDONESIA & S/A TO INDIA WILL CONTINUE TO INCREASE - VISTAAR


COALspot.com ( Singapore): Vistaar Shipping, an experienced ship operator in Singapore said, The market continued to be soft this with doubts about global economy recovery and talks about another stimulus package by the US.

The stock markets globaly remained soft this week. The BDI was down by 535 points which has been quite sharp and closed at 2,985 points.

The main cause for the BDI is again the Cape index which fell by 1,594 points which is about 25% drop in a week and closed at 4,844 points. The Panamax index dropped marginally by 75 points and closed at 2,952 points. The Supramax and Handysize gained by 99 points and 45 points and closed at 1,817 points and 794 points respectively.

The average charters rates at the close of the week was  at Cape / US$ 51,223 ; Panamax / US$ 23,615 ; Supramax / US$ 19, 002 and Handysize / US$ 11,387.

The pressure on BDI is likely to continue , however the BDI is expected to stay around 3,000 points.

The congestion at Australian ports continues to be at around 121 vessels waiting off EC Australia. The congestion in Paradip and Haldia is continuing to be high with about 47 ships waiting at Paradip. 

China's appetite for iron ore and coal imports is expected to be weak in Q3 and if this happens will definitely have a affect on the shipping market. The import of steam coal from Indonesia and South Africa to India will continue to increase especially with quite a few thermal power plants in the pipeline and will be operational in 3 / 5 years.

The Panamax / Supramax / Handy size were fairly holding firm . Supramax opening Far East were getting around US$ 15,000 - 16,000 pday for SE Asia to India / China and supramax opening in India continued to get good healthy rates around US$ 22,000 / 23,000 per day for trip to Feast.

Short period rates for Supramax opening feast was around US$ 16,000 per day. Panamax opening feast were being fixed around US$ 18,000 / 19,000 per day said, Capt. Reddy, MD, Vistaar Shipping, Singapore. 

Capt. Reddy is expected the future for 3 years 2010 / 2011 / 2012 is around Cape / US$ 30, 000 per day , Panamax / US$ 17,000 per day, Supramax / US$ 13,500 per day and Handy size / US$ 10,500 per day

The crude prices was under pressure and the brent crude prices fell below US$ 60 per barrel and closed at US$ 59.89. Seems the crude prices will around US$ 60 levels next week. The bunker prices for IFO(380 cst) prices ex Singapore went down to US$ 385 pmt but however closed on Friday at US$ 395 pmt .

Click here for Vistaar's forecasted (indicative) spot freight rates for coal & iron-ore cargo for 11 specific routes
.



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Friday, 10 July 09
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