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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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Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
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