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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
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- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- The University of Queensland
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
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