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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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Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- PTC India Limited - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
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