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Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Index (BDI) posting its first fall in five sessions, ending down by 1.30% to 1,744 points, thus retreating for a year high of 1,767 points. The Capesize market which led the gains in the previous weeks, reaching its highest level since December of last year, was the main loser yesterday, with the Baltic Capesize Index dropping by 2.39% on the day to 2,938 points. Capesize earnings had previously reached average daily earnings of $24,575. Still though, all other dry bulk shipping segments were on a high yesterday, with the Panamax market gaining 0.73% to reach 1.657 points (Baltic Panamax Index).
Still, already since yesterday shipbrokers had been doubtful about whether this latest surge would be sustainable. George Lazaridis, head of research with shipbroker Intermodal was quoted by Reuters as saying that “many have been sceptical about the whole recovery process. Essentially it has been the capes none of the others (ship segments) have shown any major recovery. There were much more (capesize) cargoes and fixtures reported but there are also so many vessels working around these areas. It is doubtful that rates can continue on for too long” said Mr. Lazaridis.
Commenting on the Capesize market, shipbroker Fearnley’s said yesterday in its weekly report that “after a strong rise in the market towards the end of last week, this week started with definite signs of strength. This was due on the back of a very tight September market. Presently the pressure is off September positions and both basins have fallen. The West Australia market has fallen from USD 10.90 level to USD 10.25, and the Brazil to China market has fallen from upper USD 27.00 to about USD 25.00. Sentiment is for a further correction of the market. The T/A market is still firm as continued tight tonnage supply seems to be the norm. On the period front there has been a significant rise in what charterers are willing to pay for early vessels, and there is renewed confidence with vessels being fixed for 2 or more years at improved levels. Today you can secure USD 17-18k short period” said Fearnley’s.
On the Panamax front it said that “western Hemisphere is suffering from a downturn vs Eastern Hemisphere still riding on an upturn. The scenario is not (only) from world economy but also from the Panamax freight levels this week. Spot positions in the Atlantic struggle due to lack of sufficient requirements and rates are sliding towards 13k/day for T/A rounds. Fronthaul business is limited with some minerals and grain cargoes fixable around the 21k mark. In the Far East lack of prompt tonnage in certain areas have given fuel to the market, supported by a rising Cape market. Nopac rounds achievable above 14k/day. Short period activity loosing some of its recent steam in the mid 13 range as the forward market took a breather early week” Fearnley’s said. In a separate report, Shiptrade Services mentioned that “the week began quietly rates softened just a bit across both basins. In the Atlantic region, we witnessed a lack of fresh inquires, combined with a growing supply of tonnage availability, which pushed rates downwards. Rates for Transatlantic round began from USD 14.750 per day and eventually concluded at USD 14.500per day towards weeks closing. On the Fronthaul trade rates declined at levels around USD 21.500 per day at weeks closing. The Pacific market started quietly as an effect of holidays in Singapore. Indonesia was quieter in terms of volume of fixing and rates for Pacific round drifted close to USD 10-11.000per day for vessels open N.China, or USD 12.000per day basis passing Taiwan. Rates for trips Ex Nopac increased at rates around USD 13.000 per day basis N.china/Japan range (M/V Nikolaos 75500/09)” commented Shiptrade Services.
It went on to analyze the Supramax market saying that “After two weeks with increased activity, market seems losing steam. In the Atlantic basin, the USG region is slowing down with fewer cargoes emerging the market and rates started dropping. Supramaxes reported fixed at USD high 20’s per day for trip to F.East. On the ECSA, rates for trips back to Continent/Mediterranean were at USD 14-15.000 basis W.Africa delivery, while for trips to F.East some fixtures reported at USD 20.000per day. In the pacific, market drifted as a result of the Ramadan holidays in Indonesia. Many Owners lowered their ideas in order to cover their vessels. Nickel ore parcels were scarce, but there were some coal parcels with the majority of them destined to India. Rates for trips to India were at USD 11-12.000per day, while we saw reported a modern Supramax fixed at USD 10.000per day basis delivery Karaikal, for 1 trip via Indonesia back to India. Vessels open in N.China/ Japan were more interested for NOPAC but rates were close to USD 9.000 per day” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
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- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- The University of Queensland
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
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