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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, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
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- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
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