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