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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 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- The University of Queensland
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
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