S&P Global Platts will start publishing two new dry bulk freight assessments for Capesize and Supramax class vessels, in view of the increasing liquidity on bauxite and thermal coal routes from Guinea and Indonesia respectively, effective May 4.
The new PC19 Capesize assessment will reflect the freight rate for the Kamsar, Guinea to Yantai, China route basis 170,000 mt (+/- 10%) cargo size, and the PS30 Supramax assessment will reflect the rate for the Samarinda, East Kalimantan to Campha, Vietnam route, basis 50,000 mt (+/- 10%) cargo size.
Both assessments will be published on a dollar per metric ton basis and will follow the Singapore publishing schedule timestamp at the Asian market close at 5:30 pm Singapore time (0930 GMT).
Bauxite exports from West Africa's Guinea rose 13% on the year to just above 60 million mt in 2019, of which almost 45 million mt was shipped to China in 268 Capesize class ships, Platts trade flow software cFlow showed.
Vietnam, one of the fastest growing economies in the Asia Pacific, has seen its thermal coal imports balloon to over 40 million mt in 2019 compared with around 25 million mt in 2018, industry estimates show. Over 2019, a total of 205 Supramax class ships carrying coal have called at Vietnamese ports, Platts cFlow data showed.
Vietnam's coal imports would likely exceed 50 million mt in 2020, rising to an estimated 80 million mt by 2025, according to Vietnamese energy company An Viet Phat Energy.
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