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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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Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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