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Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterday to end the session down to 1,309 points, a daily slump of 1.13%. On the positive side, the Capesize market stopped tis fall, to end the session marginally higher at 0.19 percent to 1,573 points. At the same time, the constant fall of the panamax sector finally led rates lower than Capesizes. Since the beginning of the year, Panamaxes had been the top earners of the dry bulk market, in a sector’s paradox that tended to become the norm. Yesterday, the panamax segment lost further ground to end down by 2.40 percent.
In its latest weekly report, Fearnley’s said that the Panamax market continued its downward trend this week. It was some mixed views beginning week when more fresh cargoes entered the market - but this was quickly absorbed by the overwhelming supply of available ships. “The rates in both hemispheres are slowly declining and we do not see any fundamental upcoming events in the near future which will have any positive effect to the rates. Next week is Easter Holidays in most European countries and we believe this also will affect the already slow market. For Continent positions doing Fhauls the rates are in the low 20´s region. Tarv´s paying low teens while in the Pacific the rounds are fetching very low 10´s. The period market has been somewhat none existing lately with only a few fixtures reported at around 15k lvl for short/medium periods” it mentioned.
As for the Capesize market, it said that the segment is heading for another low, as newbuildings continue to pour out of yards. “Spot demand is fair, despite recent natural disasters, but simply not sufficient to fully employ a growing fleet. Pacific rounds, although not covering operating expenses, are stable at just over usd 6k/day – the reference trade WAust/China hovering in the dismal usd 7.50-75 pmt interval. Atlantic has taken a further blow, with levels for the Cont-Brazil-China fronthaul trade dropping 10% w-o-w to come in at usd 20k/day, TA rates softening by a full 35% to usd 6250/day. A few key players still book period tonnage, at levels reflecting the presently inverted forward curve more than the current spot bloodbath 180kdwt newbuilding done ex yard prompt for 11-13 months at usd 15k/day, 180kdwt/built 2010 fixed prompt for 4-6 months at usd 12500” said the shipbroker.
Regarding the smaller ship types, “the Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pays very low 20´s for petcoke runs into the EMed/EMed. Short period dely in Atl on Supramax 53kdwt stands at usd 18500 with worldwide redelivery. TA rounds are being traded in the high teens. Pacific market very quiet as Chrtrs holding back their requirements and allowing tonnage to build up. Supras in N.China get close to 12k for trips via Indo to India. Iron ore from India expected to pick up with increased cargoes and buying interest from China thereby rates remain firm around 17k WCI/China and from ECI around 15k, but few ships seen ballasting to Indo as not much cargoes ex ECI. On Rich.Bay rounds Supras see around 15k basis WCI dely. Red Sea; ferts on Hmax/Supras are fixed at very mid-high 20´s pmt on voy bss to WCI. Not too much activity on short period as market bit volatile and speculative and hear index type vsl fixed at mid-teens” concluded the report.
Meanwhile, it’s worth mentioning the latest developments regarding India’s iron ore export plans. As it turns out, the Karnataka state government is challenging the Supreme Court's decision to lift the iron ore export ban. In a note, Jeffrey Landsberg from Commodore Research & Analysis, said that, Karnataka's Chief Minister B S Yeddyurappa held on a conference stating that Karnataka will file an appeal with the Supreme Court. “According to Mr. Yeddyurappa, illegal mining and transportation of iron ore is still running rampant throughout the state and in all of India. His statement's echo similar findings from the Central Empowered Committee and Lokayukta that Commodore has published in recent reports. We will continue to monitor this development closely and will publish additional updates when more information surfaces. For now, the export ban remains set to be officially lifted on April 20. A significant increase in Indian iron ore fixtures has not yet occurred however. Only 4 Indian iron ore fixtures surfaced in the market last week, 1 less than the previous week and on par with the trailing four week average” said Landsberg.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
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