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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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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- The University of Queensland
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
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