Singapore (Platts)--16Jul2012
Panamax coal freight rates on established routes from South Africa's Richards Bay and Indonesian ports to India edged up Monday, with sources saying grain tonnages on the Atlantic basin remain the driving force.
The grain activity, which is usually strong during the fiscal second quarter, on the Atlantic basin is expected to extend well into August, a Singapore-based shipping source said. He added that other cargoes like bauxite and coal were also lending support to Panamax freight rates.
Charterers are ready to pay $9/mt for coal cargoes from Indonesia to east coast of India for July and August cargoes, this source said.
Platts assessed the daily Panamax freight rates from South Kalimantan to west coast of India at $9.70/mt and to east coast at $8.90/mt, both up 10 cents on-day.
Platts also assessed the daily Panamax freight rates from Richards Bay to west coast of India at $16/mt and to east coast at $17.45/mt, both up 10 cents on-day.
An India-based shipping source, however, said coal cargoes from Indonesia to India and iron ore exports from India had reduced significantly.
"Shipowners are shifting focus to other tonnages like limestone and agricultural products," this source said.
Supramax freight rates are looking up and charterers are ready to pay as much as $13.50/mt to east coast of India and $16/mt to west coast of India from Indonesian ports, this source said, adding that charterers were eyeing $11-$12 levels two weeks ago.
SHIPOWNERS WILLING TO GO TO WEST COAST OF INDIA DESPITE MONSOON
Despite the ongoing monsoon season in India, shipowners are willing to accept fixtures to west coast of India and thereafter ballast to Persian Gulf in western Asia, the India-based shipping source said.
A second India-based shipping source said availability of iron ore tonnages from Iran to China were luring shipowners to Persian Gulf.
Supramax freight rates have risen sharply in recent days, with East Kalimantan to Kandla on the west coast of India being quoted at $14.50/mt and to east coast of India at about $11.50-$12/mt, this source said.
He said charterers were even willing to pay Panamax freight rates of $12.50-$13/mt for a geared vessel -- which has cargo-handling equipment like cranes on board -- from Indonesian ports to India.
For a gearless vehicle -- which depend on ports having loading/discharging equipment -- freight rates are much lower, he noted.
However, sources said coal cargoes from Richards Bay to India still remained sparse.
"There has been limited enquiry ex-RBCT, with coal for India direction.
No reported period fixtures in the area," broker Braemar Seascope had said in its weekly report on Thursday.
Capesize freight rates remained under pressure as demand from top consumer China remained muted in an oversupplied market, the Singapore-based shipping source said.
"More ships have risen to the surface and a change in sentiment has seen charterers once again take control of the market and push rates back," Braemar Seascope said.
--Deepak Kannan,
--Edited by James Leech,
Panamax coal freight rates on established routes from South Africa's Richards Bay and Indonesian ports to India edged up Monday, with sources saying grain tonnages on the Atlantic basin remain the driving force.
The grain activity, which is usually strong during the fiscal second quarter, on the Atlantic basin is expected to extend well into August, a Singapore-based shipping source said. He added that other cargoes like bauxite and coal were also lending support to Panamax freight rates.
Charterers are ready to pay $9/mt for coal cargoes from Indonesia to east coast of India for July and August cargoes, this source said.
Platts assessed the daily Panamax freight rates from South Kalimantan to west coast of India at $9.70/mt and to east coast at $8.90/mt, both up 10 cents on-day.
Platts also assessed the daily Panamax freight rates from Richards Bay to west coast of India at $16/mt and to east coast at $17.45/mt, both up 10 cents on-day.
An India-based shipping source, however, said coal cargoes from Indonesia to India and iron ore exports from India had reduced significantly.
"Shipowners are shifting focus to other tonnages like limestone and agricultural products," this source said.
Supramax freight rates are looking up and charterers are ready to pay as much as $13.50/mt to east coast of India and $16/mt to west coast of India from Indonesian ports, this source said, adding that charterers were eyeing $11-$12 levels two weeks ago.
SHIPOWNERS WILLING TO GO TO WEST COAST OF INDIA DESPITE MONSOON
Despite the ongoing monsoon season in India, shipowners are willing to accept fixtures to west coast of India and thereafter ballast to Persian Gulf in western Asia, the India-based shipping source said.
A second India-based shipping source said availability of iron ore tonnages from Iran to China were luring shipowners to Persian Gulf.
Supramax freight rates have risen sharply in recent days, with East Kalimantan to Kandla on the west coast of India being quoted at $14.50/mt and to east coast of India at about $11.50-$12/mt, this source said.
He said charterers were even willing to pay Panamax freight rates of $12.50-$13/mt for a geared vessel -- which has cargo-handling equipment like cranes on board -- from Indonesian ports to India.
For a gearless vehicle -- which depend on ports having loading/discharging equipment -- freight rates are much lower, he noted.
However, sources said coal cargoes from Richards Bay to India still remained sparse.
"There has been limited enquiry ex-RBCT, with coal for India direction.
No reported period fixtures in the area," broker Braemar Seascope had said in its weekly report on Thursday.
Capesize freight rates remained under pressure as demand from top consumer China remained muted in an oversupplied market, the Singapore-based shipping source said.
"More ships have risen to the surface and a change in sentiment has seen charterers once again take control of the market and push rates back," Braemar Seascope said.
--Deepak Kannan,
--Edited by James Leech,
No comments:
Post a Comment