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