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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, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
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