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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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Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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- Sical Logistics Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
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