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