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Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
 COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt. Reddy, MD of Vistaar Shipping of Singapore.
However the BDI was down by about 5 pct and closed at 3,345 points. The cape index fell by 13 pct this week and closed at 5,170 points. All other index went up marginally from to 2 - 6 pct to side and closed at Panamax / 3,524 points, Supramax / 2,091 points and handysize / 879 points, said Capt. Reddy on Monday.
The BDI continues to be around 3,500 points and seems will maintain between 3,000-4,000 points.
Supramax charter rates opening in India to China was firm and up by almost US$ 8,000 per day and ships have been reported fixed at around US$ 32,000 - 33,000 per day. Ships opening Far East also was quite firm and for single voyages the charter rates was around US$ 18,000-20,000 per day.
There has been quite a few period fixtures reported last week. Short and one year period rates for Supramax was firm at around US$ 18, 000 - 18,500 per day. Panamax rates for short period and one year period was at around US$ 20,000 - 22,000 per day.
The spot average charter rates was at Cape / US$ 55,193 per day, Panamax / US$ 28,209 per day , Supramax / US$ 21,861 per day and Handysize / US$ 12,648 per day.
Vistaar Shipping, an experinced ship operator in Singapore further said, the future for 3 years 2010 / 2011 / 2012 would be around Cape / US$ 32,000 per day, Panamax / US$ 17,000 per day, Supramax / US$ 14,000 per day and Handysize / US$10,500 per day.
The main reason for the firm rates seems to be because of grain cargoes ex NOPAC and iron ore buying by China with iron ore CIF prices touching almost US$ 100 pmt. Suspension of spot sales by Australia seems to be the main reason for increased buying by China from India and Brazil.
The other reason is increased demand of coal imports by China. With some news of iron ore prices likely to be concluded in next days by China with Australia, there could be some changes to the freight market. Most steel mils are reporting losses and others are reporting decline in profits due to sluggish demand , the steel demand has to pick and demand also should be good to support import of large quantities of iron ore by China.
The charter rates ex US Gulf and South America was fairly flat and no ships were reported fixed ex Persian Gulf / India ballasting to South America.
The congestion in Australian ports continues with slightly less number of ships this week to 103. In India except for Paradip all other ports are having minimum delays.
The crude prices was up and the brent crude prices was up sharply to around US$ 69 per barrel. The bunker prices firmed up and the IFO(380 cst) prices ex Singapore was quite volatile this week ranging from US$ 409-430 pmt. The prices closed on 24 July 2009 Friday at around US$ 432 pmt.
Click here for Vistaar Shipping's forecasted (indicative) spot freight rates for coal & iron-ore cargo for 11 specific routes. (cs)
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Saturday, 25 July 09
HUANENG EYES MAJORITY STAKE IN PT BERAU COAL
CCTV reported that, China's largest publicly traded power company has submitted a bid for controlling stake in Indonesia's fifth largest coal mine ...
Saturday, 25 July 09
ADANI POWER TO IMPORT COAL FOR MUNDRA PLANT
BL reported that more than 50% of the coal requirement for Adani Power’s 4,620 MW Mundra plant will have to be imported from Indonesia though ...
Friday, 24 July 09
INDONESIAN COAL NEWS - UPDATE
Income from tax slow
Since the economic crisis in October 2008 until now, tax from the general mining sector is slow. According to the Director Gene ...
Friday, 24 July 09
S.AFRICA JAN-JUNE EXPORTS TO ASIA AROUND 1.4 MLN T
* China takes 140-150,000 tonnes
* S.Korea imports zero
* Hong Kong utilites buy S.African coal
South African coal exports to Asia excluding India a ...
Friday, 24 July 09
BIG ADARO SHAREHOLDERS CREATE HOLDING COMPANY
The nation’s second-largest coal producer, PT Adaro Energy, said on Thursday that five key shareholders had merged their holdings in the compan ...
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