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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- The University of Queensland
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
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