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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index (BDI) further down to 1,250 points, 0.32% lower than the previous session. The Panamax segment once again suffered the bulk of the losses, while the Capesize market was marginally higher by 0.39% to 1,546 points.
In its weekly report, shipbroker Barry Rogliano Salles said that the Capesize market was relatively inactive last week, partly due to the Easter holidays which triggered a lull in the market. “The levels remained grossly flat at the weak level of about US$6/7000/day on average. Partly due to chtrs holding back nominations under their COA’s until the end of the quarter, a severe lack of cargo was felt, particularly for loading in the Atlantic, which meant that owners had to lower their rates to obtain the rare business around, and a TARV was worth a very low US$4/5,000/day while Fronthaul business gave returns in the high teens.
A more regular amount of activity in the Pacific enabled the rates to sustain themselves unusually higher than in the Atlantic, standing at around US$6-7,000/day. Backhaul cargoes were still extremely scarce and continued to pay a negative return of about minus US$7,000/day. Ships in the PG could obtain mid teens return for a trip via India to china. On the period front, short period deals are now worth in the low teens dely China redly ww, depending mainly on eco consumptions as in these market conditions of rock bottom TC rates and very healthy bunker levels the vast majority of the cape fleet is slow steaming. This week started quietly and we will need to see a fresh income of Atlantic cargoes to make the market move” said the report.
Regarding the Panamax market, BRS noted that during the course of the past, the Baltic Panamax Index eased by $1,000 in all basins which represent a significant loss of around 10%. The Pacific rounds were fixed at mid US$8,000/day and the TA round at just below US$11,000/day. The main reason of this trend was the lack of cargoes worldwide and the good number of spot vessel looking for business. The Period activity was the most impacted market as it tumbled and lost US$2,500/day opening the week at US$14,500/day and closing it US$12,000/12,500/day for nice TES 74 dwt.
As for the Supramax/Handy segments, “ast week we had a slow activity on the market due to the Easter holidays break, the Supramax market has been slowly sliding down in all areas. During this Easter mood, the BSI lost only 13 points to reach on average of the TC routes of US$14,645 at the end of the week. Out of the USG owners were fixing their Supras around US$23,000 daily for redelivery Skaw/Passero whereas redelivery Singapore/Japan was fixed in the low US$30,000. The Black Sea/Med area was not improving, most of the ships were ballasting out, the lucky ones fixing clinker or steels. A large supra was fixed at US$7,000 delivery Black Sea/redel USG. The Supramax market in the Pacific has been on a downfall since last week. Owners were trying to resist as feel market will bounce back this week due to more iron ore, nickel ore cargoes coming out but charterers pulling rates further down.
WCI India iron ore stems have increased as miners are trying to move as much as possible before the monsoons start. A few Indo coal stems, which were usually covered on COAs have been seen on the spot market. The Index for the pacific round ended in the 14k-15k levels. Modern Supramaxes are getting interest for short periods in the mid teens” concluded the shipbroker.
Meanwhile, in a separate report, Commodore Research & Consultancy focused on China developments, noting that 11 vessels were chartered to export thermal coal to China last week, 8 more than the week before that. “Domestic thermal coal prices remain relatively low compared with international coal prices but the overall price differential is slowly increasing. Australian coal cargoes remain unattractive, however, as freight costs exceed the difference between Datong and Newcastle prices. The differential between Datong and Newcastle FOB prices has increased to $7.50; last week the differential was $6 (the price of Datong coal has held steady at $129/ton; the FOB price of Newcastle coal has declined to $121.50/ton). The cost of freight to ship Australian coal to China currently stands at roughly $12/ton, well above the $7.50 price differential.
Chinese iron ore production has increased significantly on a month-on-month and year-on-year basis. Approximately 94.4 million tons of iron ore was produced in March, an increase of 21.9mt (30%) from 72.5mt produced in February and 14.7mt (18%) more than the 79.7mt produced in March 2010. Compared to the first three months of 2010, Chinese iron ore production has increased this year by 36.6mt (18%). Domestic iron ore production has remained at high levels due to lucrative prices. Production is expected to remain firm while prices stay high. Although iron ore imports will continue to be negatively affected by robust domestic production, imports have been able to remain at firm levels as demand has stayed robust” concluded the US-based consultancy.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- The University of Queensland
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
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