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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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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Planning Commission, India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Eastern Energy - Thailand
- VISA Power Limited - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
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