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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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Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
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- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Cement Manufacturers Association - India
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