CFI 2012 09 17 .pdf



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September 17, 2012
published
weekly oaster F
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F
t
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h
ter
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x C
Freig
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eigh
Inde
ster
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ex
Freight Rates
ter F
x C
Freig
t Ind
e
h
r
d
Coas
g
e
i
n
t
s
Fre
ht I
CoaCountry
Cargo
Lot
Loading port
port
Rate, $/tonne
w-o-w
ster
Freig
oaDischarging
r Country
C
e
t
s
a
x
o
e
C
d
square billet
10,000t
Mumbai
India
Taiwan x
China
36-37
=
t In
de
eighIndia
ht In
hot rolled coils
7-8,000t
Mumbai ster Fr
Manila
Philippines
36-37
=
g
i
e
Coa
er Fr
steel products
10,000t
Jakarta
Tianjin
China
28-29
=
oast
CIndonesia
t

Coas

usd/t

x
Inde

hot rolled coils

10,000t

Taiwan

China

Busan

South Korea

18-19

=

steel products

5-6,000t

North ports

Spain

South ports

Argentina

84-85

=

flat steel products

3,000t

St. Petersburg

Russia

Rotterdam (Antwerp)

Netherlands (Belgium)

€16-17

=

flat steel products

3,000t

Kaliningrad

Russia

Rotterdam (Antwerp)

Netherlands (Belgium)

€13-14

=

steel products

3,000t

Marmara

Turkey

West Coast

Italy

28-29

=

steel products

5,000t

Marmara

Turkey

Alexandria

Egypt

18

=

flat steel products

5,000t

Odessa

Ukraine

ports of Marmara Sea

Turkey

15-16

=

steel products

3,000t

Odessa

Ukraine

Anzali

Iran

53

=

flat steel products

5,000t

Odessa

Ukraine

Ravenna

Italy

25-26

=

flat steel products

10,000t

Mariupol

Ukraine

Adriatic coast

Italy

21-22

=

aluminium

5,000t

Vanino

Russia

Yokohama

Japan

21

=

aluminium

3-4,000t

St. Petersburg

Russia

Vlissingen

Netherlands

€16-17

=

coke

10,000t

Nantong

China

Calcutta

India

26

=

iron ore

20,000t

Vizag

India

1 port

Singapore

14,5-16

=

ilmenite concentrate

5,000t

Sovetskaya Gavan

Russia

Ningbo

China

26

=

pig iron

3,000t

Ust-Luga

Russia

Lubeck

Germany

€13-14

=

scrap(sf 55-60`)

3-5,000t

Klaipeda

Lithuania

North ports

Spain

€22

=

steel scrap (sf 65`)

5,000t

1 port

Spain

Marmara

Turkey

24-25

=

scrap (sf 56-58`)

3,000t

Rostov-on-Don

Russia

Nemrut Bay

Turkey

30-31

=

coal

10,000t

Samarinda

Indonesia

Dailan

China

18-19

=

coal

20,000t

1 port

South Africa

Mumbai

India

21-22

=

coal

5,000t

Uglegorsk

Russia

East Coast

Japan

26-27

=

coal

3-5,000t

Nakhodka (Vladivostok)

Russia

North Coast

China

18-19

=
=

coal

5-7,000t

Riga

Latvia

Rotterdam (Antwerp)

Netherlands (Belgium)

€13

coal

2,000t

Kaliningrad

Russia

Gdynia

Poland

€7-8

=

coal

5,000t

Kerch

Ukraine

Izmir

Turkey

15

=

coal

5,000t

Kerch

Ukraine

ports of Marmara Sea

Turkey

13-14

=

fertilizers

10,000t

Jakarta

Indonesia

1 port

Vietnam

21-22

=

fertilizers

3-5,000t

Klaipeda

Lithuania

Rotterdam (Antwerp)

Netherlands (Belgium)

€14

=

fertilizers

3-5,000t

Klaipeda

Lithuania

Southern ports

Spain

€26-27

=

fertilizers

4,000t

Gulluk

Turkey

Ashdod

Israel

16

=

salt

3,000t

Sfax

Tunisia

ports of Adriatic Sea

Italy/Croatia

18-19

=

urea

6-7,000t

Yuzhny

Ukraine

Ravenna

Italy

25

=

urea

6-7,000t

Yuzhny

Ukraine

Iskenderun

Turkey

23-24

=

sugar

10,000t

Mumbai

India

Dubai

UAE

25-26

=

rice

15,000t

Kandla

India

Dubai

UAE

13-14

=

rice in big-bags

6,000t

Bangkok

Thailand

Jakarta

Indonesia

18

=

rice in big-bags

6,000t

Bangkok

Thailand

Surabaya

Indonesia

19

=

barley (malt)

3,000t

South ports

UK

Rotterdam (Antwerp)

Netherlands (Belgium)

€9-10

=

Coaster Freight Index

September 17, 2012

www.me-freight.com

1

Freight market
Cargo

Lot

Loading port

Country

Discharging port

Country

Rate, $/tonne

w-o-w

wheat

3,000t

Stralsund

Germany

Setubal

Portugal

€21-22

=

grain

3,000t

Azov

Russia

ports of Black Sea

Turkey

21-22

-1

grain

3-5,000t

Mariupol

Ukraine

Adriatic coast

Italy

29-30

-1

grain

5,000t

Odessa

Ukraine

Alexandria

Egypt

27

=

grain

5,000t

Odessa

Ukraine

Ashdod

Israel

27

=

timber

10,000m3

Manado

Indonesia

Kandla

India

25-26

=

wooden chips

8-10,000m3

Qui Nhon

Vietnam

Zhanjiang

China

25-26

=

saw-log

3,500 m3

Nakhodka (Vladivostok)

Russia

East Coast

Japan

19

=

saw-log

3,500 m3

Nakhodka (Vladivostok)

Russia

West Coast

Japan

16

=

saw-timber

7,000m3

Riga

Latvia

West Coast

UK

€13-14

=

saw-timber

3,5-4,000m3

Liepaya

Latvia

East Coast

UK

€15-16

=

saw-timber

3,5-4,000m3

Arkhangelsk

Russia

Rotterdam (Antwerp)

Netherlands (Belgium)

€30

=

timber

2,500m3

Belgorod-Dnestrovsky

Ukraine

ports of Marmara Sea

Turkey

20

=

cement

5-7,000t

Mumbai

India

Umm Qasr

Iraq

25-26

=

gypsum in bulk

7,000t

Bangkok

Thailand

Hon Gai

Vietnam

12

=

cement

10,000t

Jakarta

Indonesia

Thailand

19

=

cement in big bags

3,000t

Dalian

China

Russia

12

=

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ight

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crushed stone

usd/t

cement in big bags

Freight market
Asia-Pacific Region

Despite some strengthening of the Southeast Asia freight market, freight rates have stayed stable there on the back of high availability of vessels.
The volume of coal transported to China has gone up substantially – local companies have come back to the market to refill stock levels, but
the pick-up is unlikely to last for a long time. Shipments of Indonesian coal to India have stabilized after last week’s decline. Delivery of 50,000 t
of the material from Samarinda to the eastern coast of India is quoted at $11-11.5/t, while 40,000 t of cargo are shipped to Guangzhou at $1011/t. Australian coal is supplied in 150,000-tonne lots from the western coast of the country to China (Qingdao) at $8/t and to Japan at $7/t.
After three-month lull, offers for iron ore transportation from Indonesia to China have appeared in the spot market of region. Dispatch
of 40,000 t of cargo from South Kalimantan to the northern ports of China (Tianjin) costs now $11-12/t, while that to the southern coast
(Guangzhou) – $9.5-10/t.
Fertilizers are steadily shipped on the traditional routes. The freight rate for 10,000 t of cargo transported from Jakarta to the ports of
Vietnam is $21-22/t, while it costs $28/t to have 2,000 t of ammonium sulphate delivered from Zhanjiang (China) to Ho Chi Minh. Delivery of
25,000 t of fertilizers from port Tianjin (China) to Brazil is quoted at the level of $39/t.
As before, steel products are being exported frequently enough from South Korea, China, Vietnam and Indonesia to other countries of
the region. The tariff for 10,000 t of steel carried from Busan to Ho Chi Minh is $30-31/t, while delivery of the similar load from Jakarta to
the northern ports of China costs $28-29/t.
Although trading activity is likely to increase further next week in the Southeast Asia freight market, shipping prices for the main cargoes
will stay stable due to the fleet excess in the region.
The Far Eastern freight market remains generally low this week, main Chinese importers are not going to raise purchases. Shipowners
manage to keep prices unchanged despite still excessive fleet in the region.
Timber and sawn timber are actively carried in lots of 2,000-5,000 m3 from the Russian ports to China, Japan and Korea. Transportation
of 3,500 m3 from Nakhodka/Vladivostok to the western ports of Japan is priced at $16/m3. Freight rates for 3,000 m3 of sawn timber carried
from Vanino to the same destination are at $30-31/m3.
Russian coal export volumes have grown up somewhat, mainly due to increasing demand from Japanese and S. Korean consumers. Transportation
of 70,000 t of the material from Vostochny to Japan costs $9/tonne, and to South Korea – $10/tonne. Dispatch of 15,000 t of coal from Vanino to
China is priced at $26-27/tonne, while it costs some $22/tonne to have 5,000 t of cargo delivered from Vanino to the eastern ports of Japan.
Ferrous raw materials are shipped in the previous quantities on the traditional routes. Transportation of 5,000 t of ilmenite concentrate from
Sovetskaya Gavan to Ningbo (China) is quoted at $26/tonne, while delivery of 3,000-5,000 of scrap (sf 65-70`) from Nakhodka/Vladivostok
to Pohang is quoted at $25/tonne.
Steel products are being dispatched mainly to China, S. Korea and SE Asia countries. The tariff for 10,000 t of the products carried from
Dalian (China) to Busan is $7-8/tonne, while shipment of 5,000 t of the cargo from Nakhodka to Incheon is still quoted at $18-19/tonne.
The situation in the Far Eastern shipping market is unlikely to change in mid-September. Freight rates will stay unmoved.
Indian Ocean
In the middle ten days of September the activity in the Indian Ocean freight market has been still low, and the transportation cost of the
main cargo nomenclature is stable.
In spite of a slight decrease of Indian coal import volumes, it is still the most demanded cargo in the region, being exported mainly in big
consignments from Australia and South Africa. The transportation of 40,000 t of coal on the route South Africa – Mumbai is priced at $15-16/
tonne; freight for 150,000 t load from Richards Bay to the eastern ports of India is in between $9.5-10/tonne; for 75,000 t of fuel carried from
the western coast of Australia to the eastern ports of India - $15.5/tonne on average.
Steel products supplies from India to the Southeast Asia countries and China are steady; 10,000 t of square billets are carried from Mumbai
to Taiwan at some $36-37/tonne.
Indian grain export volumes haven’t been changed; as before, wheat is being supplied to Bangladesh and to the Middle East, and big-bag
batches of rice - to the Middle East and to the Western Africa. The freight rates for 14,000 t of wheat from Kandla to Dubai is $19-19.5/tonne,
for 10,000 t of rice in big-bags from Kandla to Jeddah (Saudi Arabia) - $24-26/tonne.
According to market participants, there have been no pig iron deals in the Indian spot market this week, however it is possible that by the
end of the month the shipping activity in the region will go up due to the end of monsoons. Currently the delivery of 20,000 t of pig iron from
Vizag to Shanghai (China) is quoted at $15.5-17/tonne.
Next week significant changes in the Indian Ocean freight market are not expected, and the freight rates will stay unchanged.

Atlantic Ocean

The situation has not changed much in the Baltic and North Sea freight market this week. Demand for spot transportation is still extremely
feeble, new deals are closed rarely and cargoes are mostly shipped under the effective long-term contracts. Charges for major cargo
transportation by small vessels are stable.
Handysize shipping fees have settled at last week’s level. As before, Panamax vessels transport iron ore and coal on traditional routes
most frequently. Such shipments have fallen in price by another $0.5-1/t. For instance, an 80,000-tonne lot of iron ore is carried from Kokkola
(Finland) to Immingham (the UK) at $6.5/t on average now (down $1/t). Rates for 70,000 t of coal shipped from Murmansk to Rotterdam
have been reduced by $0.5/t to $6-7/t.
Steel products and semis are sluggishly transported, shipments of up to 5,000-tonne lots from St. Petersburg prevailing. Some €16-17/t
is charged for 3,000 t of flat products shipped from St. Petersburg to Rotterdam. Tariffs for transportation of a 5,000-tonne slab batch from
Kaliningrad to the eastern ports of the UK are running at €14-15/t.

Coaster Freight Index

September 17, 2012

www.me-freight.com

3

Freight market
Steel scrap transportation volumes are stable, with the cargo being predominantly exported in Handysize lots from the Baltic States and
Europe to Turkey. A 3,000-5,000-tonne lot of scrap (sf 55-60`) is carried from Klaipeda to Rotterdam at around €15/t. Delivery of 30,000 t
of the cargo from Rotterdam to Nemrut Bay (Turkey) still costs $26-27/t.
Mineral fertilizers are transported by large vessels at the same pace as before, small-tonnage shipments being rare though. Freight rates
for 25,000 t of potash fertilizers carried from Klaipeda to Fortaleza (Brazil) and 3,000-5,000 t from Klaipeda to Rotterdam are at $32-33/t and
€14/t respectively.
Timber and construction material transportation remains languid. A 7,000 cu m lot of sawn timber is still shipped from Riga to the UK east
coast at €13-14/cu m, and delivery of 3,000 t of crushed rock from Norway to Kaliningrad is quoted at €6-7/t.
Trade will most likely keep low in the Baltic and North Sea freight market in mid-September, and coaster shipping fees will hardly change.
Panamax freight rates, conversely, may continue falling.

Mediterranean Region

The Mediterranean Sea freight market has stayed largely unchanged over the week. As before, demand for cargo transportation
with both small and large vessels is extremely soft at the ports of the basin. Deals are made rarely, with major buyers just negotiating new
purchases. Although coaster shipping fees are rather steady, shipowners have to drop freight rates in some cases to avoid idling.
In the segment for large-tonnage ships, few batches are shipped on a spot basis and available vessels are plentiful. Panamax transportation
has fallen in price by $0.5/t tracking the general global trend in the segment. For instance, a 70,000-tonne coal shipment from Richards Bay
(South Africa) to Morocco is currently quoted at $11/t. Handysize tariffs have kept at last week’s level.
Steel products are mainly exported from Turkey and Italy, shipments of Handysize and up to 3,000-tonne lots being the most frequent.
Transportation of 5,000 t of steel products from the Sea of Marmara ports to Alexandria still costs $18/t, while a 3,000-tonne batch carried
from Venice to Algiers is charged $21/t.
Grain transportation has plateaued after some rise recorded at the month's start. So, $19/t is still quoted for 30,000 t of wheat shipped
from Rouen to Tunisia, and $40/t – for 3,000 t of grain delivered from the northern ports of France to Alexandria.
Steel scrap shipments from the African ports are as scarce as before, with only transportation from Spain having grown somewhat. From
Spain to the Sea of Marmara ports, a 5,000-tonne lot of scrap (sf 65`) is carried at $24-25/t now.
Construction materials are shipped rarely, small batches prevailing. Transportation of 5,000 t of cement in big bags from the Sea of
Marmara to Alexandria is priced at $19/t.
Next week, the Mediterranean freight market will hardly see any substantial changes. Even if shipments rally slightly, freight rates will stay
the same as they are now, as available ships are ample in the region.
Contrary to shipowners' expectations, no increase in trading activity is occurring in the Azov-Black Sea freight market during the second
week of September. Given the lack of supply in the spot market, a great number of ships, mostly coasters and sometimes sea-river ships, have
been either idling for a long while or have to go in ballast on their way to take on cargoes. This situation often forces shipowners to deliver
cargoes at fright rates by $1-2/t lower than the average market level. Freight rates have remained generally unchanged over the week.
Steel products, grain and fertilizers are being rather briskly shipped from the Black Sea ports. Metals and coal are seldom offered
for shipments in the spot market because most charterers prefer to work with specific shipowners directly. Spot shipments of fertilizers,
ferroalloys and timber are steady in the first half of the month together with those of steel products that are carried from Ukraine to the
Iranian ports in the Caspian Sea, this however has no major impact on the market in the region. Cement is available for shipments at the
ports of Turkey, but hardly anyone is willing to ship it in small batches – the cargo is taken only as a return load due to low profits on this
shipping route; besides, most vessels navigating the basin take backhaul cargoes at water areas of Ukrainian, Russian and Romanian ports,
but not the Black Sea ports of Turkey.
It still costs $15-16/t to have 5,000 t of steel products delivered from Odessa to the Marmara Sea ports; a 3,000 t batch of steel scrap (sf
65-70) shipped from Novorossiysk in the same direction is priced at $24/t. Transportation charges for 5,000 t of coal carried from Kerch to the
Marmara Sea ports have remained unchanged from last week, standing at $13-14/t on average. Shipping rates for 5,000 t of grain delivered
from Odessa to the Adriatic Sea ports are currently set at $28/t.
In the market of large-tonnage shipments, steel product transportation by Handysize vessels has increased from Ukraine and Russia as well
as that of construction cargoes from Turkey; grain shipments by such fleet have remained rather frequent. Shipowners have so far failed to
press for higher rates on a large number of available ships, therefore the level of freight tariffs has been steady. Freight rates for Panamax
shipments have also been static so far, since demand for this type of transportation is not that high in the Black Sea.
Among the cargoes most frequently shipped in the Azov Sea are coal, grain, steel products and clay, shipments are made from Mariupol.
Grain transportation has decreased slightly this week, and grain shipping fees have lost $1/t on average. Freight rates for other cargoes have
stayed stable.
Delivery of 3,000 t of steel scrap from Rostov-on-Don to the Marmara Sea ports is charged the same $27-28/t; freight rates for the same
volume of coal shipped from Yeisk to the Marmara Sea ports are at $19/t. Transportation charges for 5,000 t of clay carried from Mariupol to
Iskenderun have stayed at $20-21/t. Shipping 3,000 t of grain from Azov to the Marmara Sea ports has dropped in price to $23/t.
The situation in the Azov and Black Seas is not expected to change much next week; transportation by Handysize fleet may drop though,
pushing freight tariffs for the shipments up.
The uptrend in the Caspian Sea freight market has continued into the middle of September. Steel product shipments are being expectedly
made more often than early this month, with spot batches being shipped under contracts signed in the first half of August. Sawn timber
shipments made from Astrakhan have also increased. After notable growth last week, transportation of grain cargoes from Volga river ports
has stabilized, whereas at Aktau port it is yet to recover.

Coaster Freight Index

September 17, 2012

www.me-freight.com

4

Freight market
Although this activity growth in the region is not very substantial, freight rates have kept rising gradually on quite a small number of vessels
navigating the basin. Тhus, freight rates for the majority of basic cargoes have added another $0.5/t over the week; only grain freight tariffs
at Astrakhan, Makhachkala and Aktau have remained at last week's level. Namely, delivery of 3,000-5,000 t of wheat from Aktau to Iran is
priced within the same range of $19-20/t; however, shipping rates for 2,000-3,000 t of grain carried from Volgograd to Amirabad have grown
to $46.5/t. Transportation of 3,000 t of flat products from Astrakhan to Anzali is currently charged $18/t, down $4.5/t from the first ten days
of September in 2011.
The upward trend in freight rates currently observed in the Caspian Sea region may continue during the second half of the month in case
transportation of major cargoes stays on the rise.
Also we have freight lists divided by cargo type:
steel products, non-ferrous metals, ferrous raw materials, coal, fertilizers and chemicals, grain, timber and construction cargoes.

as well you can find bunker prices there
Type of ship

Rate, $/day

w-o-w

STK

2,100-2,200

=

Sormovsky

2,700-3,200

=

Volga

3,400-4,400

=

STK

1,600-2,300

=

Sormovsky

2,500-3,000

=

Volgo-Don

3,000-3,600

=

Volga

3,200-3,900

=

STK

1,800-2,100

=

3000 DWT

2,900-3,000

=

5000 DWT

4,200-4,400

=

6-7000 DWT

5,600-5,900

=

3000 DWT

€1,600-1,900

=

3,5-4000 DWT

€2,000-2,300

=

5-6000 DWT

€2,700-3,000

=

2,300-2,500

+200

Sormovsky

2,200-2,400

=

Pioner

3,500-3,700

=

Dmitriy Donskoy

7,500-7,700

=

Black sea

Time-charter rates for sea-going and sea-river
vessels // week 37, 2012

Azov sea

Mediterranean sea

Baltic Sea

Caspian Sea
Sormovsky

Far East

In the middle of September, time-charter rates for coasters and sea-river
vessels have not changed much in the Azov, the Black, the Mediterranean, the
Baltic and the North Seas. There is so far no uptick in trade activity traditional
for autumn. Available small ships are plentiful, and the excess in the coaster fleet
is the most acute in the Black and the Mediterranean Seas. With no prerequisites
for an upturn in transportation seen so far, both freight and time-charter rates will
most probably remain stable next week.
In the Caspian Sea, rental fees for Sormovsky ships have added another
$200/day in a week. Transportation continues to gather pace, which, in tandem
with ships shortage, enables shipowners to raise transportation and time-charter
charges. In the second half of September, rates may go further up if steel scrap
and grain transportation from ports of the basin swells.
The Far Eastern freight market has seen no fluctuations in time-charter
fees. Demand for small-tonnage ships time charter is steadily slack. Despite an
abundance of vessels in the region, shipowners manage to maintain time-charter
and freight rates thanks to steel shipments to Southeast Asia, ferrous raw materials
- to Japan, China and Korea and timber - from Russian ports to the Far Eastern
countries.

Average time-charter rates for large-tonnage
ships // week 37, 2012



Average rate,



$/day

w-o-w

In mid-September, the Panamax fleet segment continues to weaken in all Panamax 60,000 - 79,000 DWT
4800
-1200
regions. Average time-charter rates for vessels of that deadweight have gone Supramax 50,000 - 59,000 DWT
9250
=
down by $1200/day. In the Atlantic, the number of available vessels keeps going Handysize/Handymax 15,000 - 49,000 DWT 8050
-425
up while offers for cargo transportation along the Atlantic coast of America and
to Europe are limited, which caused time-charter rates to decrease to the lowest point this year – $2500-3000/day. Shipping activity inside
Europe has decreased as well. In the Pacific Ocean, transportation volumes of Indonesian coal and iron ore have gone up, while exports from
Australia are insignificant. China's ship-builders keep constructing new vessels, which is adding to the bearish sentiment and causing timecharter to decrease further. The downtrend is likely to persist in the second half of September.
Time-charter rates for Handysize have gone down by $425/day, while rental prices for Supramax have stayed unchanged over the
week. The situation differs from region to region. In the Atlantic, cargo flow activity is going down, especially in the southern part of the ocean
and on the routes from ECSA to Europe. At the same time, supplies from the U.S. Gulf to the same direction are stable. In the Pacific Ocean,
shipments by vessels of such deadweight have increased due to growing volumes of coal and iron ore dispatches from Indonesia coupled with
stable demand for Philippine nickel ore. Transportation activity is expected to increase somewhat in all regions next week, while time-charter
rates are unlikely to grow due to high number of vessels available.

Coaster Freight Index

September 17, 2012

www.me-freight.com

5

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e
I
s
r
x
ht
de
Coa
dex
igBlack
er F
n
t
e
I
s
r
t
x
x
a
F
Ukraine,
FOB
Sea
342
345
352 - 355
h
e
o
r
de
aste
Freig
t Ind
x C
o
ht In
h
e
r
C
g
g
e
d
i
i
t
n
e
e
s
r
Pig iron, $/tonne
x
ht I
Coa
er Fr
ter F
Inde
reig
oast
htRussia,
ex Black, Baltic Sea
C
g
d
i
er Fbillet
Square
100-150mm, steel kp/sp/ps,
FOB
n
Russia,
FOB
405 - 410
420
t
e
I
s
r
x
a
e
o
ht
rF
t Ind
x C Black, Baltic SeaCoaste
Freig Russia, FOB FareiEast
h
e
r
g
d
420
420
e
n
t
I
x
r Fr
Coas
Inde
steFOB
a
t
x
o
h
e
Ukraine,
Black
Sea
375
385
400
C
g
d
i
ex
ht In
r Fre
aste
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Square billet 100-150mm,
Freig
h
r
g
i
e
t
oas
r Fre
C
e
t
s
steel kp/sp/ps, $/tonne
Coa
dex
x
e
ht In
d
Russia, FOB Black Sea
535
545
ht In
Freig
r
Russia,
FOB
Far
East
500
530
540
- 545
e
t
Coas
ex

Fre

Ind
ight

x
Inde

er

t
Coas

reig
ter F

37, 2012
w-o-w
=
=
=
+8
+9
+14
=
=
=
-10
-2,5
-10
-13,5
=
-20

-10
-27,5

Russia, FOB Caspian Sea

590 - 600

590 - 600

=

Ukraine, FOB Black Sea

535 - 540

545

-7,5

Cast slabs, steel kp/sp/ps, $/tonne
Russia, FOB Black, Baltic Sea

475 - 480

475 - 480

=

Russia, FOB Far East

465 - 470

-

-

HR sheet, coil 2-8 mm,
steel kp/sp/ps, $/tonne
Ukraine, FOB Black, Azov Sea

520 - 535

540 - 545

Russia, FOB Black Sea

550 - 560

-

-15
-

Russia, FOB Baltic Sea

545

-

-

Rebar, $/tonne
Ukraine (12-25 mm ), FOB Black Sea

600 - 605

600 - 605

=

Turkey (10-22 mm), FOB Mediterranean Sea

595 - 605

600 - 610

-5

China (16-25 mm), FOB southern ports of China

490 - 500

490

+5

* - indicative price

In mid-September in the Chinese iron ore market exporters succeeded to reverse the falling trend and manage to increase offer prices.
This was preconditioned mainly by an increase in volumes of purchases by the Chinese steel mills, though there was no feverish demand.
Also, suppliers of ore justified a price surge by a decision of Chinese government to approve a state investment program according to which
a number of large construction projects will be carried out, which is supposed to boost demand for finished products in the country.
Australian miner Rio Tinto sold a cargo of Pilbara 61,5% Fe fines at $103/tonne C&F Qingdao, while at the end of the week this material
was sold at $106/tonne C&F. Another major exporter – BHP Billiton – sold a cargo of MAC 61,2% Fe and Yandi 58% Fe fines at $100/tonne
and $92/tonne C&F Qingdao respectively. Also, according to the preliminary data, BHP sold a cargo of Newman 63% Fe material at around
$99-100/tonne C&F Qingdao. Brazilian exporter Vale sold a batch of 65,5% Fe fines at $109/tonne C&F Qingdao, while 65% Fe material
traded at around $107-108/tonne C&F. Prices for Indian material remain indicative due to absence of offers in the market.
***
The trading activity in the Turkish ferrous scrap market is quite weak – some importers take cargoes to cover the current needs. This
week Turkish steel mills preferred dealing with American suppliers. A cargo of US-origin HMS 1&2 80:20 material was purchased at $375/tonne
C&F Turkey, P&S scrap was bought at $385/tonne C&F Turkey, while for a shredded scrap a buyer paid $380/tonne C&F Turkey. European

Coaster Freight Index

September 17, 2012

www.me-freight.com

6

Cargoes / commodity prices
suppliers failed to achieve fresh contracts with Turkish importers. Russian traders left the offer prices for 3A material unchanged ($380-385/
tonne C&F Turkey), though buyers wanted further cuts. Also, offers of 3A scrap from Bulgaria were heard at $375/tonne C&F Turkey.
The demand for imported ferrous scrap in the Far East is minimal – the majority of South Korean and Taiwanese steel mills refrain from
signing fresh deals amid unfavorable situation in the finished products market. Exporters from Japan made abatement and were ready to sell
HMS №2 scrap at $335/tonne FOB Japan. According to the preliminary data, a South Korean Hyundai Steel purchased a batch of Japanese
HMS №2 material at $334-340/tonne FOB Japan. American suppliers lowered offer prices for Korean and Taiwanese buyers to $355-360/
tonne C&F, but no deals were reported. Exporters from Russia also cut offer prices – 3A grade material was available at $385-390/tonne C&F
South Korea versus $395-400/tonne C&F last week.
***
Export prices for pig iron from the CIS edged lower amid low demand from major buyers. In the European market most importers are
discreet in purchases since they have ample stocks. However, some companies bought small lots of CIS-origin pig iron. Ukrainian-origin
material was offered to Italy at $400-405/tonne C&F – few deals were concluded at this level. Russian exporters cut offer prices to $430/tonne
C&F western ports of EU, but no deals were made - importers demanded additional discounts. Turkish mills got offers of Ukrainian material
at $390/tonne C&F (for comparison – last week a cargo of Ukrainian pig iron traded at $395/tonne C&F). The demand for pig iron in the USA
is low – importers sign contracts only with exporters who offer considerable bargains. This week a cargo of Ukrainian material was sold at
around $405-410/tonne C&F New Orleans. Brazilian pig iron was offered at $420/tonne C&F.
The trading activity in the pig iron market in the Far East is minimal – most steelmakers have sufficient stocks till the beginning of October
and do not need to buy more. Also, regional steelmakers have difficulties with sales of flats and longs. Russian-origin pig iron was offered to
Taiwan and South Korea at $440/tonne C&F. Japanese material was available at the same level. Importers from South Korea claim that they
are ready to negotiate only if offer prices are as low as $425-430/tonne C&F.
***
In mid-September billet suppliers from the CIS have to make abatement in negotiations with buyers. Acceptable to buyers level of prices
goes down due to cheaper ferrous scrap in Turkey. At present, most Ukrainian, Russian and Byelorussian mills are selling October output
billet. Ukrainian billet of ArcelorMittal Kryvyi Rih was offered at $540/tonne FOB Black Sea; latest deals were concluded with Iranian importers
at around $545/tonne FOB Black Sea. Byelorussian square billet was available at $528/tonne FOB Odessa, though no deals were reported.
Russian material was offered at around $535/tonne FOB Black Sea. In the Caspian region exporters from the CIS do not want to cut offer
prices for Iranian buyers, though the latter demand discounts. Russian billet was offered at $590-600/tonne FOB Astrakhan; buyers purchased
a small lot of this material at around $590/tonne FOB.
In the Far East Russian suppliers made considerable price cuts amid scant buying activity in SE Asia. EvrazHolding sold a cargo to Thailand
at $530/tonne FOB Far East. Also, Russian producer Amurmetall closed two tenders to sell billet at $505/tonne and $499/tonne FOB Vanino.
Chinese-origin billet was offered at $545-560/tonne C&F SE Asia, while South Korean and Taiwanese suppliers were off the market.
***
Exporters of flat products from the CIS are now selling October output material. Ukrainian flats are in demand in Eastern Europe and
the Balkans. Russian hot-rolled coils are in demand mainly among European importers too. Also, this week Turkish buyers expressed interest
in CIS-origin HRCs. Ukrainian hot-rolled coils of Zaporizhstal was sold to Eastern Europe at $535-540/tonne FOB Black Sea, in Turkey offers
of this material stood at $535/tonne FOB. European buyers took Russian HRCs of Magnitogorsk Steel Works at $550-560/tonne FOB Blask
Sea. Moreover, this producer sold a cargo of hot-rolled coils to Iran at $580-585/tonne FOB Astrakhan. In the North American market Russian
HRCs of Severstal were offered at $600/tonne C&F. Chinese hot-rolled coils grew in price to $500-505/tonne FOB, though most importers do
not accept this level. Vietnamese buyers purchased sporadic lots of Chinese HRCs at around $525/tonne C&F.


***
Rebar exporters from the CIS left the prices unchanged, though the demand in the foreign markets. This week Ukrainian rebar was
offered at $600-605/tonne FOB Black Sea, but no deals were reported. Iraqi companies show some interest in Ukrainian rebar, but they
demand lower prices. Turkish suppliers continue to make concessions to importers; this week prices for Turkish rebar came down to $595-605/
tonne FOB. Turkish material was purchased by buyers from the UAE and Iraq. In the USA Turkish rebar was offered at $620-625/tonne C&F EC
USA, but no contracts were reported – there is very little interest in imported rebar now. Egyptian companies received offers of Turkish rebar
at $600/tonne FOB. Suppliers of rebar from Southern Europe (in particular, Italy and Spain) had to make abatement due to low demand in
both demostic and foreign markets. Italian rebar offers to Algeria stood at €500-505/tonne FOB, while Spanish material was about €5 cheaper.
Chinese rebar inched up to $490-500/tonne FOB week-on-week amid higher domestic demand for longs.



Coaster Freight Index

September 17, 2012

www.me-freight.com

7

ter F

Coas

ndex

tI
eigh

x

ight

r Fre

te
Coas

x
Inde

dex

ht In

eig
er Fr

t

Coas

igh

r Fre

te
Coas

ter

Coas

de

ht In

reig
ter F

Coas

ht
Freig

x

Inde

Coas

dex
ht In

Freig

dex

ht In

reig
ter F

dex

ht In

eig
er Fr

t
Cargoes
/ commodity prices
x

Coas

de

ht In

x
Inde
ght
dex
i
n
t
e
I
s
r
a
t
F
x
h
Coalr Fexport
prices
37,ex2012
Co
ter
ndeweek
I//
reig
Coas
ight
nd
te
e
I
s
r
x
a
t
F
e
o
h
d
C
ig
ter
x
ht In
r Fre
dex
Coas

14 September
7 September
w-o-w
Inde
reig
aste
F
x
ex
o
e
r
C
ght
e
d
i
t
n
e
s
I
r
a
t Ind
x
t
F
o
h
e
h
thermal
coal
r
C
g
d
g
i
e
i
n
t
e
I
re
Coas
er Fr
dex
ight
ter F
export
oast
ex
ht In
r Fre
C
d
g
i
n
130 aste
e
I
r
x
t
o
ter F
eigh
Inde
Russian coal**, FOBhRiga
85 - 87
86 - 88
-1
x C
dex
Coas
ig t
er Fr
t
e
Inde
s
r
a
F
x
ex
o
ht In
e
r
d
C
g
e
i
n
t
Russian
coal**,
FOB
Vostochny
89
90
90
91
-1
e
120 t Ind
I
s
x
Fr
ht
Coa
eigh
Inde
ster
reig 85 - 87
r
a
t
F
x
F
o
h
e
r
r
C
g
Russian
coal*,
FOB
Yuzhny
86
88
-1
e
d
t
ei
In
aste
Coas
dex
ght
er Fr
i
n
t
e
I
110
s
r
x
a
t
F
e
o
h coal*, FOB Mariupol
Russian
86 - 88
86 - 88
=
ter
Ind
x C
x
Freig
ght
Coas
eiUkraine
Inde
Inde
ster
r
x
a
F
t
Ukrainian
coal*,
FOB
83
84
83
84
=
x
e
o
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r
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C
ght
eig
100
Ind
aste
ht In
CoAfrica**,
dex
ig83
er Fr
ight
n
t
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e
I
s
South
FOB
Richards
Bay
87
87
89
-3
r
r
a
t
F
x
F
o
h
e
ter
ter
reig
x C
t Ind Australia**, FOB
Coas
Coas
91 - 92
91 - 92
=
ndeNewcastle
ter F
eigh
I
s
90
r
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a
t
F
e
o
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ste
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x
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ex
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ex
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eigh
80
astARA
t Ind
x C
t Ind
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o
Europe**,
CIF
89
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92 - 94
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e
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r 44 49 2 7 12igh17t I22 27 32 37
oas
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w
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w
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w
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w
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w
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w
eek
I
s
r
Turkey**, CIF Marmara
109 - 111
110 - 112
-1
x
t
oa
Coa
ter F
eigh
Inde
x C
htEast
dex
Coas
ig
er Fr
n
t
e
I
Japan**,
CIF
Coast
of
Japan
100
101
100
101
=
s
r
t
x
x
a
F
h
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Freig
t Ind
x C
ex
oastcoking coal, sexport
ht In
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I
I
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t
Fr
Coa
dex
ight
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ster
Fr-e155
ht In
Australia,
155 - 160
-5
er150
dex FOB Gladstone x Coa
igVostochny
er Fr Russian coal, export
t
n
t
e
s
I
s
r
a
FOB,
a
F
t
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Co
igh Canada, FOB Vancouver
nde
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e
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r
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160
165
160
165
=
e
o
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C
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ht In
ex
ex
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r FrNorfolk
g
d
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i
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n
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I
I
s
r
USA,
FOB
150
155
150
155
=
Russian coal, export
FOB, Riga
oa
ht
ht
ex
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reig
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aste
x C
t Ind
F
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h
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ter F
t
Russian coal,
150 - 160
150 - 160
=
e
I
ex FOB Vostochny
Coas
ight
er Fr
FreMariupol
t Ind coal, DAF Ukraine
ex
oast Russian coal, export
hRussian
rFOB,
d
C
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e
120
204
120
204
=
i
n
t
e
I
s
x
Fr
Coa
ight
Inde
ster
recoal
x
a
F
e
o
*
5500
kcal/kg
r
d
C
e
t
In
Coas
dex
ight
ex ** 6000-6300 kcal/kg coal
ht In
r Fre
d
g
e
i
n
t
e
I
s
r
a
t
ter F
eigh
Coas
er Fr
t
s
a
x
o
de
x C the trading activity in the thermal coal market in Western Europe remains quite strong – importers continue to buy coal
ht In In mid-September
Inde
t
h
eig
shipment. However, with supply still outstripping demand prices at the ports of ARA went down. This week buyers took cargoes
r FrNovember
tefor
Coas at $88,95-92/tonne DES ARA. There is still a healthy demand for US-origin steaming coal among buyers in the Mediterranean – in particular,
Turkish companies are holding negotiations with supplies, but no deals have been reported.
Prices for high-quality Australian thermal coal for October shipment remained at the level of early September. December-delivery material
was purchased at $92,75-93/tonne FOB Newcastle. Also, an Australian miner Xstrata and a Japanese power genco Tohoku Electric are holding
negotiations concerning annual prices and volumes, for delivery from October 2012; a Japanese company might take up to 4 million tonnes of
coal. Australian higher-ash coal is still in relatively good demand among Chinese buyers, whereas the South Korean demand has come down.
Also, some Indian companies are interested in Australian 5500 kcal/kg material. This week importers from China were ready to conclude deals
at $82/tonne C&F, while offers were higher – around $86-87/tonne C&F. Sources said, that at the end of last week a Chinese buyer bought a
Capesize of 5500 kcal/kg coal at $73/tonne FOB.
Coal suppliers from South Africa make abatement to importers in order to conclude fresh deals, though there are expectations that
Indian demand will go up in the short term due to the ending of the monsoon season. South African material is being actively offered to the
European market. This week October shipment contracts were signed at $83-85,5/tonne FOB Richards Bay, while November-delivery coal was
purchased at $85,5-87/tonne FOB Richards Bay. Exporters from South Africa offered off-spec 5500 kcal/kg coal to China at $83,5/tonne C&F,
while bids were no higher than $82/tonne C&F. Also, Chinese importers still get a lot of offers of US material – a batch of American 5800 kcal/
kg thermal coal has been sold at $80/tonne C&F China recently.
x

Freig

de
ht In

ter
Coas

eig
er Fr

***
Weekly tenders:
This week a Taiwanese state-run utility Taipower concluded deals for the supply of 15 Panamax cargoes of Indonesian thermal coal (min.
CV 5000 kcal/kg) from December 2012 to March 2013. Advance Trading will ship 9 Panamaxes of coal, Glencore will deliver 3 cargoes, while
LG, Berau and Noble will supply 1 Panamax each. Also, Taipower plans to purchase 15 Panamax-batches of 5000 kcal/kg thermal coal for
December 2012 – March 2013 delivery.
A South Korean company Korea East-West Power has launched a term tender to import thermal coal from October 2012 to September
2017. The company plans to buy 260,000 tonnes of 4600 kcal/kg and the similar volume of 5100 kcal/kg coal annually. Also, the company has
issued a spot tender for the supply of 130,000 tonnes of 4600 kcal/kg coal in October 2012.
Another South Korean utility – Korea Southern Power – plans to purchase 130,000 tonnes of 4550 kcal/kg thermal coal for November
shipment.
Also, Korea South-East Power is seeking 54,000 tonnes of thermal coal with a min. CV of 4800 kcal/kg for October – November delivery.

Coaster Freight Index

September 17, 2012

www.me-freight.com

8

t

Coas

dex
ht In

eig

x

ig

r Fre

te
Coas

dex

x

de
ht In

Freig

x

de
ht In

re

ter F

Coas

dex

ht In

reig
ter F

Coas

ex
t Ind

ter

Coas

ter
Coas

ht
Freig

ndex

ht I

Freig
x

te
Coas

Inde

Cargoes
/ commodity prices
ndex

tI

eigh

r Fr
aste

dex

ht In

eig
er Fr

t

Coas

dex
ht In

reig

ter F

Coas

ex

t Ind

igh
r Fre

dex

ht In

reig
ter F

Co
igh
x
Mineral
import
prices
oasin basic ports // week 37, 2012
ht Iexport and
r Fre fertilizers
Inde
reig
x C
aste

Co

ter F

Coas

ight

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x
14 September
7 September
Inde
dex
ight
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I
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a
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F
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Urea
prilled
bulk,
$/tonne
h
C
ter
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x
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r
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384-387
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h
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dex
C650oas
igh
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n
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Baltic
Sea
375-382
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I
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r
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x
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a
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Inde
ex
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ht In
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400-410
400-410
i
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x
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ht
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390-395
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aste
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dex
ight
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ter F
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e
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ight
ter F350
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t w eek w eek w eek
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d
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272-282
292-310
o
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t
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re Yuzhny
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Coas
ight CFR US East Coast
ndex
ter F
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I
s
r
x
335-340
a
t
x
F
e
o
h
e
d
C
d
ter
x
Freig
ht In
ex
Coas
Inde
ster - bulk, $/tonne
reig
Yuzhny
aDAP
t Ind Urea, export FOB,
F
x
o
h
e
r
C
g
ght
e
d
i
i
t
n
e
e
s
I
r
r
a
x
F
t
F
o
h
CSea
de
FOB Baltic/Black
575-585
575-585
ter
ter
reig
ht In
Coas
ndex
ter FAN - bulk, export FOB,
eigSea
I
s
r
x
a
F
t
Black
ports
e
o
h
r
FOB
China
(+7%
exp.tax)
560-565
560-565
te
eig
Ind
x C
Coas
ght
i
er Fr
t
e
Inde
s
r
x
a
F
FOB Тampa
570-575
570-575
e
o
er
t Ind
x C
oast
CFOB
eigh
Inde
r
Тunisia
590-595
590-595
x
F
t
e
h
r
d
ig
aste
ht In
r Fre
g
i
e
t
e
FOB
Мorocco
575-595
575-595
s
r
oa
rF
aste
x C
o
e
C
d
CFR
India
(spot)
580
580
n
x
ht I
Inde
t
h
CFR
Pakistan
(spot)
600
600
reig
ter F
CFR Latin America
605-610
605-610
Coas
ndex

I
ight

ndex

te
Coas



reig
ter F

w-o-w
+13
+6
=
=
=
+3,5
-6
-12,5
-6,5
+8,5
-24
-10,5
=
=
=
=
=
=
=
=

МАP - bulk, $/tonne
FOB Baltic/Black Sea

575-585

575-585

=

CFR Brazil

590-600

590-600

=

Ammonia, $/tonne
FOB Yuzhny (spot)

630-645

630

+7,5

FOB Ventspils (spot)

638-646

638-646

=

FOB Middle East (spot)

705

705

=

660-670

660-670

=

CFR US Gulf

705

705

=

CFR Tampa

705

705

=

CFR Southern Europe (duty paid)*

690-700

690-700

=

CFR North.-West. Europe (duty paid)*

680-690

680-690

=

CFR Morocco*

MOP - bulk, $/tonne
FOB Baltic Sea (standard)

410-450

420-490

-25

FOB Baltic Sea (granular)

460-480

460-490

-5

FOB Vancouver (standard)

435-490

435-500

-5

FOB Vancouver (granular)

465-500

465-500

=

FOB Jordan/Israel (standard)

435-470

435-500

-15

CFR Brazil (granular)

490-510

520-530

-25

CFR China (standard)

470

470

=

CFR India (standard***)

470-490

470-490

=

CFR Southeast Asia (standard)

500-530

500-535

-2,5

DAF Russia/China (standard)

430-440

430-440

=

NPK 16-16-16 - bulk, $/tonne
FOB Black/Baltic Sea

445-460

445-460

=

Sulphur - dry bulk, $/tonne

Coaster Freight Index

FOB Black Sea

165-175

165-175

=

FOB Vancouver (spot)

175-185

175-185

=

FOB Arab Gulf (spot)

180-195

180-195

=

FOB Arab Gulf (QIII 2012 contract)

180-200

180-200

=

September 17, 2012

www.me-freight.com

9

Cargoes / commodity prices


14 September

7 September

CFR North Africa (2H 2012 contract)

190-210

190-210

w-o-w
=

CFR China (spot)

200-205

205-210

-5

СFR Mediterranean Sea (incl.N.Africa, spot)

180-185

180-185

=

СFR India (products of the AG countries)

200-210

200-210

=

CFR Brazil

210-215

210-215

=

*** - price with a 180-days credit
** - no current deals
* - reference price

Urea
Urea export prices at Ukrainian ports have climbed up this week after quite a few producers managed to sell September volumes at
$384-387/t FOB. Thus, Dniproazot sold a 10,000 t batch at $387/t FOB to Trammo; AFT sold 7,000 t of Odessa Port Plant's urea to Turkey at
$384-385/t FOB. Reportedly, Odessa Port Plant also concluded a deal with Indagro at $393/t FOB, but this sale has not been confirmed. The
largest Ukrainian exporters still hope to lift the price for external consumers to $400/t FOB. In particular, NF Trading is offering 25,000 t of the
fertilizer at this price for October shipment.
By now, September urea shipment from Yuzhny is estimated at 170,000-180,000 t, of which 136,000 t have already been dispatched to
Africa, Turkey, India and Brazil. Brazilian companies have stepped up nitrogen fertilizer buying considerably in September, but have so far
been unwilling to accept a sizeable escalation of import prices. The latest sales of Russian urea to Brazil were made at $375-380/t FOB Baltic
Sea, which is equal to $407-415/t CFR Santos. Earlier, exporters had expected to take at least $420/t CFR on sales to end-user markets.
Ammonium sulphate
Volumes of ammonium sulphate available for exports are still limited in the CIS ports due to caprolactam production problems. In the meantime,
demand for the product is getting increasingly stronger. Enquiries on white ammonium sulphate are coming mainly from Brazil at the prices close
to $260/t СFR (standard) and $355/t CFR (granulated), and buyers are ready to pay for October and even a part of November output. Most recent
offers of white ammonium sulphate from Russia and Belarus have been voiced at $231-235/t FOB Baltic/Black Sea for shipments in the second
half of October and early November, whereas prices for standard ammonium sulphate with the same shipment period have been set at $203/t
FOB Kherson. September shipment of white ammonium sulphate in Yuzhny is limited by 3,500 t dispatched to Morocco on September 6.
Ammonia
Merchant ammonia prices were holding steady last week. Only NF Trading put up its price by $15/t comparing with the previous deals and sold
115,000 t at $645/t FOB, October shipment. Yara bought 75,000 t of the volume, Koch - the remaining 40,000 t. The latter also bought 40,000 t of
ammonia in Ventspils for further shipment to the USA in late September at $638/t FOB. This, together with gas supply failures to plants in Trinidad,
makes market participants expect ammonia contract prices to add $10-15/t in Tampa in October as compared to the current level of $705/t CFR.
Market players expect steady demand in Europe and the USA will boost ammonia prices at the Baltic ports to $640-655/t FOB by the end
of this month. In Yuzhny, prices have already reached their high. Prices for the Middle Eastern product will presumably decline progressively.
Expensive import ammonia causes production profitability of Asian industrial plants to drop, so October ammonia prices in the Persian Gulf
will most likely trend downwards.
Phosphates
The phosphates market has been inactive this week. Demand for these fertilizers in Brazil has remained low. Local farmers are currently
more interested in urea and nitrates; they are likely to resume DAP/MAP buying no sooner than early Q4. Asian consumers continue to buy
Chinese products in the spot market and receive earlier booked volumes from other sources. Dry weather in India has urged farmers to buy
cheaper phosphorous fertilizers, thereby pushing DAP inventories up sharply. As a result, some large Indian companies are even considering
exporting DAP to neighbouring countries.
In early autumn, European countries remain key outlets for Russian phosphates. MAP prices at ports are ranging within $590-595/t FOB
Baltic Sea, bookings by CIS countries being priced at $555-610/t DAF. Ammophos from EuroChem will be shipped to the USA, where domestic
prices are varying between $580/t and $595/t FOB New Orleans. This level makes US suppliers uncompetitive in export markets, for the
current price for export shipments is $560-570/t FOB Tampa.
Potassium chloride
Market activity in the segment for potassium was weakening in the first half of September. This week potassium chloride has dropped in price much in
the Chinese market and when imported to Brazil. In particular, the spot price for Brazil is $490/t CFR against $520-530/t CFR early this month. Regardless
of rather healthy demand in Brazil, the price drop is related to unwillingness of the largest Asian consumers, like India and China, to conclude long-term
contracts. Bleak activity in Asia has brought corrections to the forecast for global potassium chloride trade this year. Uralkali estimates it will be 49-50 mt,
down 2-3 mt from the producer's previous forecast made in June. The company assumes import to India will amount to 3.5-4 mt against 6 mt in 2011.
Sulphur
Consumer activity in the world sulphur market has been moderate in the first half of September, whereas in the Asian region, China in particular,
it has weakened on slack demand for phosphorous fertilizers. Weak market for phosphorous fertilizers has caused a scheduled production cutback
by OCP in Morocco. By the end of this year, DAP/MAP output will be cut by 20%, which will in its turn reduce importer's sulphur demand in Q4.

Coaster Freight Index

September 17, 2012

www.me-freight.com

10

x

de
ht In

eig

x

r

ter F

Coas
re

ter F

Coas

ex

Ind
ight

ex

ter
Coas

Ind
ight

ht I

Freig

ter
Coas

ndex

ht I

Freig

er

t
Coas

x

de
ht In

Freig

ter

dex

Coas

eig
er Fr

t

Co

x

de
ht In

x

de
ht In

eig

er Fr

t
Coas
330

eigh

r Fr
aste

ter

Coas

ht
Freig

dex

ht In

reig
ter F

Inde

ter
Coas


Cargoes / commodity prices

Freig

dex

ht In

dex
ht In

dex

ht In

reig
ter F

Coas

reig
ter F

t
GrainFrexport
prices
//
oas
ex week 37, 2012
eigh
x C
t Ind

Fre

dex

ht In

eig
er Fr

t
Coas

dex

ht In

t

Coas

x
Inde

t
Coas

eig
er Fr

dex

ht In

eig
er Fr

te

Coas

ex

t Ind

igh
r Fre

ex

t Ind

igh
r Fre

14 September
ex

t Ind

7 September

e
tprocessing
eigh
Grain and grain
products,
Coas
er Fr
t
s
a
x
Co
de($/tonne)
Russia
ex
ht In

w-o-w

d
reig Milling wheat, FOB
x
ht In
316 - 325
312 - 316
+6,5
reigdeep-water ports ght Inde
F
r
dex
e
i
n
t
e
I
s
r
a
t
x
F
Milling
280 - 285
+7,5
h 285 - 295
e
r
Co wheat, FOB AzovaSea
igh
teports
reig
t Ind
x
r Fre 290
Co s ports
ter F
eigh
s
Inde
r
Feed wheat,
FOB
deep-water
233
238
233
238
=
a
x
aste
F
t
o
e
h
r
C
ig
te
t Ind
hwheat,
r Fre
dex
Coas
g
i
e
n
t
Feed
FOB
Azov
Sea
ports
208
214
208
214
=
e
I
s
r
t
x
x
h
e
oa
rF
Inde 270
reig
x
aste
Fdeep-water
t Ind
x C
e
o
h
e
r
d
C
ght
g
e
d
Feed
barley,
FOB
ports
295
300
295
300
=
i
n
t
n
re
x
tI
ht I
Coas
ter F
eig282
eigh
Inde
s
r
r
a
t
F
x
F
o
h
e
r
Feed
maize,
FOB
deep-water
ports
285
282
285
=
r
C
te
te 250
eig
Ind
Coas
dex
Coas
ght
er Fr
i
n
t
e
I
s
r
x
a
t
Grain
and
grain
processing
products,
F
e
o
h
ter
t Ind
x C
Freig
dex
Coas
230
ter Ukraine
eigh
Inde
s
r
($/tonne)
a
t
F
x
ex
o
h
ht In
e
r
C
g
e
d
i
t
n
eig
e
s
I
r
t Ind
ht
rF
Coa FOB
g-h315
dex
g
i
e
i
n
t
Milling
wheat,
300
300 - 308
+3,5
e
e
I
s
r
r
a
t
F
x
o
h
e
r
rF
e210
aste 293 - 303
Fr15eig 20 25 30 i35ght IndFeed wheat, FOB ndex C
o
oast
r
47
52
5 te10
C
293
303
=
C
x
tI
x
Frew eek
w eek w eek
Cowaeeks w eek w eek w eekawseek
terw eek
eighFOB
Inde
r
t
x
x
F
h
e
e
Feed
barley,
295
306
292
300
+4,5
o
r
g
d
d
C
i
e
ex
oast
ht In
ht In
ex
r Fre
aste
t Ind 305 - 310
x C
Feed maize,CFOB
295 - 305
-7,5
Freig
t Ind
Freig
o
h
e
h
r
g
d
g
i
e
i
n
t
e
Fr
x
oas
ht I
e
r
r Fre
C
g
e
d
i
e
t
n
t
e
s
Wheat
bran,
FOB
227
265
220
223
+24,5
I
s
x
Fr
t
Milling wheat
Coa
Coa
ter(Ukraine)
eigh
Inde
dex
Coas
dex
ight($/tonne)
er Fr
n
Kazakhstan,
t
e
I
s
r
t
x
a
F
h
ex
o
de
ter
a3sclass
Freig
t Ind
Milling wheat (Russia)
x C
o
ht In
h
e
r
wheat,
FOB
Aktau
port
320
- 350
303 - 324
+21,5
C
g
g
e
d
i
i
t
n
e
e
s
r
x
tI
Fr
Coa
ter F
eigh
Inde
ster
r
a
t
x
F
3
class
wheat,
DAP
Saryagash
300
320
300
320
=
o
h
e
r
C
g
d
te
ei
Feed maize (Ukraine)
t In
dex
Coas
ghFeed
er Fr
i
n
t
e
I
s
r
barley,
DAP
Saryagash
260
265
260
265
=
a
t
x
F
Co
igh
er
Inde
ex
oast
r Fre
d
C
e
n
t
I
s
x
Coa
ight
Inde
r Fre
dex
ight
n
e
I
r
aste
t
F
h
ter
reig
Coas
ter F
s
a
x
o
e
C
d
ex
ht In By mid-September,
trade has somewhat slackened in the Russian export grain market. Local wheat is getting less attractive to importers,
t Ind
h
g
i
e
r
F
as
its
quotations
are
approaching
those for the grain of other origins (French one in particular). Now, it has the advantage mostly owing to
ter
Coas lower transportation costs. The value of milling wheat has risen by $6.5/t and $7.5/t FOB Black and Azov Sea ports respectively this week
following the uptrend in world markets and another downward revision of the grain output forecasts. Prices for wheat, barley and maize of
fodder variety have stayed unchanged.
Some downturn in trade is observed in the Ukrainian export grain market as well. Most exporters are hesitant about signing new longterm contracts for wheat supplies due to probable imposition of restrictions on the product exports in Q4 2012. Demand for fodder maize and
barley is currently the weakest, as major importers (those from Arab countries especially) are unwilling to buy at current prices. Quotations
for basic grains have changed this week as a result of diverse factors. So, milling wheat has got $3.5/t more expensive tracking global tags.
Prices for fodder barley have been lifted by $4.5/t since supply of the outbound product is limited. Meanwhile, fodder maize has fallen in price
by $7.5/t following the general global trend. Quotations for fodder wheat have stayed the same as before. They are just nominal because
export supply of this grain is nearly non-existent. Overseas demand for wheat bran is recovering, which enables exporters to force prices up
(over the week, the by-product has risen in price by some $24.5/t again).
Chicago Mercantile Exchange quotations for December-delivered wheat originating from the Black Sea region have still been running at
$311/t FOB Black Sea this week.
In the Kazakh export grain market, the situation has not changed much, with market participants still sitting on the hedge. DAP Saryagash
offers for wheat and fodder barley have settled at last week’s level in view of languid trade. At the same time, shipments from Aktau have
rallied somewhat, thereby making for a $21.5/t rise in FOB Aktau quotations for wheat.
x

Inde

310

ex
t Ind

Coas

ter F

Coas

***
Tenders of the week:
This week, Egypt’s General Authority for Supply Commodities (GASC) has purchased 470,000 t of wheat originating from the Black Sea
and Europe on FOB basis at two tenders. Between November 11 and 20, 235,000 t of the grain, including 120,000 t of French, 60,000 t of
Russian and 55,000 t of Ukrainian wheat, will be delivered to Egypt. French product has been bought from traders Louis Dreyfus and Granit
in equal batches at $347.25 (the freight rate is $15.65). Russian wheat will be supplied by Glencore at $343.89/t (the freight rate is $11.49/t)
and Ukrainian one – by Venus at the price of $337/t and the shipping fee of $15.2/t. The buyer will receive some 235,000 t more of the cargo
between November 21 and 30. The volume comprises 120,000 t of Russian, 60,000 t – of French and 55,000 t of Ukrainian wheat. Russian
grain has been booked in the batches of 60,000 t from the traders Glencore at the price of $350.11/t and the freight rate of $10.85/t and
Aston at $350.25/t and $10.85/t respectively. French wheat has been sourced from Invivo ($347/t and $13.9/t) and Ukrainian one – from the
exporter Venus ($345.43/t and $15.67/t).
Jordan’s state grain buyer purchased 100,000 t of Ukrainian wheat from Nibulon at $360/t C&F. The first 50,000 t of the cargo will be
delivered in the second half of December and the rest – in the first half of January.

Coaster Freight Index

September 17, 2012

www.me-freight.com

11

Cargoes / commodity prices
South Korea’s KFA acquired 55,000 t of US and South American maize from STX Corp at $330.59/t C&F. The cargo is to arrive in the
destination ports by January 10 2013.
The state procurement agency of Tunisia booked 50,000 t of durum wheat for delivery of two equal lots during October and November
from Casillo Commodities at $413.9/t C&F.
Syrian one has bought 50,000 t of wheat from the Black Sea region (Russian and Ukrainian grain) at €286/t C&F. The delivery is due within
two months after the L/C opening.
An Omani buyer has made a contract for 20,000 t of milling wheat to be delivered from Australia in October at $395/t C&F.
A company from Qatar has purchased 20,000 t of Indian wheat at $345/t C&F for October and December deliveries.
One new tender has been invited this week. A UAE buyer is interested in buying 20,000 t of fodder barley and 20,000 t of maize for October
and November deliveries.

Coaster Freight Index

September 17, 2012

www.me-freight.com

12

© Coaster Freight Index 2012

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Coaster Freight Index

September 17, 2012

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13


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