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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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Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
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- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- White Energy Company Limited
- Planning Commission, India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
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