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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Australian Coal Association
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