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Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session up by 1.05% to 1,443 points. The Capesize Index has inched higher, gaining 1.63% on Wednesday to reach 2,116 points, managing to stay clear ahead of the Panamax sector. Panamaxes were also higher by 2.01% with the relative Panamax Index now standing at 1,626 points. Up until a couple of weeks ago, Panamaxes were ahead of their larger Capesize counterparts, in a paradox of the latest circumstances prevailing in the dry bulk market for months.
In a latest update on the Capesize resurgence, US-based analyst Commodore Research & Consultancy said that approximately 108 dry bulk vessels were delivered in May, a significant increase from 71 vessels delivered in April. May saw the delivery of 29 handysize vessels, 36 handymax vessels, 22 panamax vessels, and 21 capesize vessels. In comparison, April saw the delivery of 14 handysize vessels, 20 handymax vessels, 20 panamax vessels, and 31 capesize vessels.
“Approximately 35 vessels were demolished in May, a small increase from 27 vessels demolished in April. May saw the demolition of 11 handysize vessels, 4 handymax vessels, 8 panamax vessels, and 12 capesize vessels. In comparison, April saw the demolition of 11 handysize vessels, 5 handymax vessels, 6 panamax vessels, and 5 capesize vessels.
The capesize market fared the best in May, registering a net addition of only 9 vessels (in comparison, April saw a net addition of 26 Capes). This is partially why Cape rates have been able to find support since the second half of May. The 12 Capes that were scrapped in May were the largest amount of Capes scrapped in a single month this year. In comparison, January to April saw an average of 6 Capes scrapped per month. May’s small net addition, combined with an increase in iron ore and coal demand seen throughout much of June, has helped average Cape rates rise from approximately $5,500/day at the middle of May to almost $14,000/day” said Commodore in its report.
In its latest weekly analysis of the dry bulk market, Fearnley’s said, referring to the Capesize segment, that “as most players were expecting a summer quiet market, the opposite is happening. West Australia/China route is stronger, in spite of only one of the big three appears to be active. Although little information in the market appears about last done levels, it seems mid 8s is the going level for this route. For Tubarao/Qingdao we see more activity as well, and bid/offer is presently usd 20,50/21.00 bss Tub/Qingdao. Short period is steady, with expectations for some further improvement, bid/offers for short period usd 12,000/12,500 dly” said the shipbroker.
In the Panamax segment, “despite recent signs of life in the Cape market, and spot levels on Panamax turning positive mid week, the sentiment in the Panamax market suffers from an underlying weak tone. Charterers are holding back and activity overall is limited. In the Atlantic prompt positions has been cleared out and rates are slowly climbing in mid teens. Grain orders still appear from ECSA, and runs to the Far East holding at 25 + 500 for ballasters or 22-23k bss Med positions. Owners are still suffering in the eastern hemisphere by lack of fresh requirements from both Aussie and NOPAC. Low volumes on coal with just a few Indonesian rounds still there, and short term expectations for coal is not encouraging. Pacific levels not at five figures yet. The FFA market is hovering around 12-13k for the next 12-18 months, maintaining similar levels for short/medium period where activity also is limited” said Fearnley’s.
Finally, on the Handy sector, it’s been “a quiet market with low activity for Supramax in the Atlantic this week, in particular for Cont/Med positions. NCSA-USG spot/prompt loaders also struggling to find employment. Ballasters from Indian Ocean adding pressure to the South Atlantic resulting in an overall negative trend.
The Pacific market is quiet. For Indo-India, Supras in south China are getting close to 11k. Nickel-ore rounds are getting firm rates in low-mid teens. Very quiet on iron ore front due to monsoons as WCI-China rates slided to 10k and from ECI around 9k.
Few Indian tonnage seen ballasting to Indonesia and RBCT. As a result, RBCT biz fixed on APS at around 20k. Red Sea, ferts on handymax/Supras are fixed at very mid 20´s pmt on voy bss to WC India. Period deals done at 14-15k for large Supras” concluded Fearnley’s.
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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- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- The University of Queensland
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
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