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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
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