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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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Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Anglo American - United Kingdom
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