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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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- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
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