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