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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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Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
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