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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer cargoes. The industry’s benchmark, the Baltic Dry Index (BDI) fell to 1,254 points prior to Easter holidays, down by 0.63%, now standing at new lows. The Capesize market was lull remaining unchanged, with the biggest losses occurred in the Panamax segment, which retreated by 2.69%.
According to a weekly report from Shiptrade Services, “the Capesize market saw some good levels of fixing as demand grew this week in the Pacific for voyages from W. Australia to the Far East. As a result we saw some gains on Pacific RV which appear marginal as a result of the continuous overcapacity which is affecting the market. The Atlantic remains significantly subdued with the tonnage list ever increasing as ballasting vessels to the Atlantic have put more pressure on the market and have increased the congestion in South American ports.
The Panamax market showed some promise in the beginning of the week with a few fresh cargoes entering the market. However the effect was that due to the ample abundance of tonnage these cargoes were covered quickly and tonnage in the Pacific started to pile up further. Moreover in view of the upcoming Easter holiday it is unlikely that the situation will improve. Owners in the Atlantic have tried their best to resist the pressure but with such high levels of competition rates have unavoidably softened.
The Supramax market has faced another sliding week. In the Atlantic owners have tried to hold back however this does not seem to be sustainable with very limited business in the region. Rates in the Pacific are showing a sliding direction since demand has been thin and the region is still heavily constrained by the excess supply of vessels. There was no hope for fixtures out of India either this week, with an obvious drop in iron ore cargoes coupled with the effects of higher taxation on exports.
The Handysize market is the only one which managed to keep fairly stable this week. Rates across the board have even been showing slight gains. That is not to say however that there is a definite positive market direction. In ECSA we saw a positive note with a few more enquiries appearing for fronthaul trips” said the shipbroker’s report.
It went on to say that according to data from the Chinese Iron & Steel Association (CISA), the national daily crude steel production during March remained at positive levels, up by 4.6 %. Preliminary data from Chinese customs show an increase of Iron Ore imports by 22% in February. Australia on the other hand, according to the North Queensland Port Authority, shows a recovery in March shipments from Hay Point and Dalrymple Bay despite the latest severe flooding. The US Department of Commerce released its latest data showing a 52% year on year increase for US seaborne coal imports, which is the highest level seen since March 1992. Furthermore it seems that Japan became the largest single destination of US coal exports in February with 1.3 Million tons being imported against the 2.9 mill tons imported in total last year. In general the exports from US to the total Asia-Pacific region rose to 54% during February.
The latest world economic outlook from the IMF shows unchanged forecasts of 4.4 % for the world economic growth, although it continues to expect 9,6% economic expansion for China and it has lowered its estimates about India to 8.2% and the Middle east and North Africa to 4,1%. US Department of Agriculture has increased its estimates and now expects that world grain trade will total 269.57 million tons, increased by approximately 1.2 million tons than what was originally expected, this increase is occurred primarily due to raised expectations for wheat exports.
Regarding the S&P Market it seems that Tanker deals continue developing lately in spite of the low rates. M/T “Rainbow River“(107.160 dwt, Built Koyo Japan 1999) was reported sold to Greek buyers for USD 24 mill, following the one month earlier sale of the two years older M/T “Kythira” (107.176 dwt, Built Koyo 1997) to Indian Buyers for USD 21 mill.On the dry side we have seen a few Panamaxes changing hands lately. The M/V “Rondeau” (77.031 dwt, Built Namura Japan 2006, 9 HO / 9 HA) sold for USD 33 mill to Japanese Buyers, following the previous months’ sale of the one year older M/V “Mineral star” (76.285 dwt, Built Tsuneishi Japan 2005) for USD 32 mill. The M/V “Grand Sky” (75.752 dwt, Built Sanoyas Japan 1998) for USD 20 Mill via auctionand the sale of the 3 years older M/V “New Arising” (71.695 dwt, Built Hitachi Japan 1995) for USD 18.9 mill to Greek Buyers are some of the Panamaxes reported to have been sold during the last week.
Regarding inquiries the interest from the markets in the Far East is showing an increase of approximately 20%. The Greek market has shown a slight decrease in purchase interest by about 9%, while the European and other markets remain stable.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
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- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
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