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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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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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- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Wilmar Investment Holdings
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
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