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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
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 yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
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