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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 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
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