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