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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
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