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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, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
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