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Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains of 3.12 percent in the Capesize market. It was the second day of gains for the market, on the aftermath of the devastation in Japan,
which is still expected to impact the market, both in a positive way and in a negative way, depending on the type of trade. Still, as analysts noted, the Capesize segment, which is the most overweighed by a huge orderbook and a flurry of new building deliveries, remained among the lowest earning ones for ship owners, with average rates now standing at just over $10,000 per day.
In the short term, the disaster in Japan has resulted in a slower flow of dry bulk commodities to the country, mainly iron ore and coal, although there are some signs of incoming improvement as the Asian country’s industry slowly begins its return to business. This means that power plants will begin to restock their coal inventories, while Japanese steel companies will begin importing iron ore again to rebuild their damaged output. Still, according to Will Fray, a senior analyst with consultants MSI, quoted by Reuters, “I wouldn’t necessarily see recent gains as significant. The interesting thing to see is that capes, where the current supply overhang is most evident, are still the lowest earners. Spot ore import activity is not strong enough to improve rates there -- trade has certainly been slower to China for several months now, linked to a cooling in steel production” he said.
Meanwhile, according to the latest weekly report from shipbroker Fearnley’s, “the capesize market continued to fall through last week bottoming out on Monday at an average time charter rate of USD 9,298. This has now picked up to USD 10,089 which is still not very exciting. Nonetheless, the paper market is enthused and the front end of the curve has picked up somewhat, but not enough to allow a repeat of the 3 year fixture reported last week. There are takers for this period but they are rateing lower numbers and owners are not ready to accept these figures. On the spot market fixtures remain relatively flat and the Atlantic continues to be stronger than the Pacific. In general, uncertainty due to events in Japan and in the Mediterranean are keeping the market weak, though there could be some more near term activity in the Atlantic due to nuclear plants in Germany being taken off line for safety checks” it said.
Regarding the Panamax market, it mentioned that after a slow week with marginal decline in rates the market found support with levels moving upwards from mid week. “This was predominantly driven by ECSA and USG grains and short period activity to cover same with owners now able to secure healthy USD 27,000 with equivalent ballast bonus for front haul. Short period was also fairly active with grain traders and operators booking tonnage in the Far East in the mid 17,000 range. Lack of other fresh mineral business in both hemispheres kept a stable but not very enthusiastic sentiment. North Pacific and Pacific business is fixable at mid to upper teens while Atlantic rounds close to 17,000/day. One year period is being secured at 16,500-17,000 but takers are reluctant to pay owners similar levels for longer duration” said the shipbroker.
As for the smaller segments, which are supported by current robust grain trade activity, Fearnley’s added that “the Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras. The USG remains firm paying in the mid 20´s for trips into the MED and low/mid 30´s for trips FE. Nevertheless tonnage is piling up again with ballasters which will push rates downwards in a few weeks unless activity picks up more to absorb tonnage. In the Pacific, there is a tight tonnage supply on prompt positions in China/SEA for mostly handy up to 45,000 dwt which means rates are on the rise for those sizes. Supras on the other hand, are in abundance. There has also been a high amount of short period activity with charterers scrambling/hoping to take tonnage ´on the cheap´. The Far East remains reasonably tight on prompt tonnage, however with activity low and owners resisting. The market for North Pacific/Indo/India for tonnage delivering North China is in the USD 16,000 range” the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- The University of Queensland
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
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