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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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Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
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