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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
 COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panamax index also dropped by 17/18% and closed at 4,444 points and 2,599 point respectively. The supramax index dropped by 11% and closed at 1,840 points and the handysize index dropped by 6% and closed at 833 points.
The average charters rates at the close of this week was at Cape / US$ 45,528 ; Panamax / US$ 20,880 ; Supramax / US$ 19,242 and Handysize / US$ 12,051. The BDI may not drop below 2,500 points and feel there would be a correction next week and would between 2,500-3,000 points.
The main reason for the drop in freight market in India / Far East region seems to be reduction Iron ore imports by china. It was expected that the volume will come down for the balance of this year, however at this point no data is available for same.
According to Vistaar Shipping, an experinced ship operator from Singapore, the charter rates on Supramax from EC India to China was at US$ 22,475 per day which has dropped by almost US$ 10,000 in last two weeks where as the SE Asia round voyage the charter rates on Supramax dropped by US$ 2,700 in last two weeks. The India / Far East sector is expected to be weak next week.
Capt. Reddy, MD of Vistaar Shipping belives that, one year charter rates for Supramax was at around US$ 18,000 per day and short period rates for vessels opening Far East / SE Asia was around US$ 19,000-20,000 pday.
"Two / Three year charter rates is around US$ 15,000-16,000 per day" - Capt. Reddy
The congestion in Australian ports continues to be high with 111 vessels waiting EC Australia and 30 ships waiting WC Australia. The waiting on iron ore vessels has increased from 22 to 30 vessels this week.
The congestion in EC India Paradip and Visakhapatnam continues and this is expected to continue for some more time.
The crude prices was fairly firm and the brent crude trading around US$ 73 per barrel. The bunker prices for IFO(380 cst) prices ex Singapore was firm and gone upto IFO(380cst) / US$ 452 pmt , however closed lower at around IFO (380cst) / US$ 437 pmt.
Click here for Vistaar's forecasted (indicative) spot freight rates for coal & iron-ore cargo for 11 specific routes. (cs)
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Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...
Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...
Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...
Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in
the mining ...
Sunday, 21 June 09
TRANSPORT PROBLEMS HOLD BACK RUSSIAN COAL EXPORTS
Limited rail capacity and poor port infrastructure are frustrating the ambitions of Russia's leading coal producers to increase exports quickly to ...
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- Indian Energy Exchange, India
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- London Commodity Brokers - England
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- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
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- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
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- Metalloyd Limited - United Kingdom
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- Jaiprakash Power Ventures ltd
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- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
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- Banpu Public Company Limited - Thailand
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- Jorong Barutama Greston.PT - Indonesia
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- Petron Corporation, Philippines
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- Bangladesh Power Developement Board
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- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
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- Tata Chemicals Ltd - India
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- White Energy Company Limited
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- Aboitiz Power Corporation - Philippines
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- Xindia Steels Limited - India
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- Agrawal Coal Company - India
- Singapore Mercantile Exchange
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- Baramulti Group, Indonesia
- Videocon Industries ltd - India
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- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
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- Tamil Nadu electricity Board
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- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
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- Heidelberg Cement - Germany
- Australian Coal Association
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- Lanco Infratech Ltd - India
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- Economic Council, Georgia
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- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
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