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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, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
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