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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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Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
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