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Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry experts have identified the latest downturn in a fall of demand for smaller carriers, which in turn had been leading the rebound during the past couple of weeks. Yesterday, the BDI was down by 5 points to 926, points, with all markets down, apart from the Capesize segment, which rose once again to 1,475 points. By contrast, the Supramax market has been suffering the most during these past few days, losing an additional 25 points yesterday to 965 points.
"The dry bulk market has weakened significantly in 2012 year-to-date due to the Chinese New Year (holiday), continued robust fleet growth, and a softening in demand growth for imported commodities in China and Europe," Jefferies analyst Douglas Mavrinac said in a note, which was quoted by Reuters. Australian miner Fortescue Metals Group said despite talks of slowdown, China's economy is expanding at a relatively healthy pace, fuelling demand for raw materials such as iron ore and steel for infrastructure development and consumer products. "We expect steel production to ramp up going into the summer months, a situation we have not seen fully materialise yet, and think this will support the dry bulk market," Arctic Securities analyst Erik Nikolai Stavseth said in a quote from Reuters.
"While Chinese iron ore and steel inventories have declined modestly over the past several weeks, and while we believe increased Chinese iron ore fixtures could provide slight support for spot rates, we expect any improvement to be relatively modest," Wells Fargo senior analyst Michael Webber said in a note.
In a separate report, commenting on the Capesize segment, Shiptrade Services noted that there were “modest increase in rates for Capes this week with the BCI improving by 43 points closing at 1369. The weekly average of 4 TC routes also went upwards by USD 642 closing at USD 5,188. In the Atlantic basin although some fresh requirements came into the market, oversupply of tonnage halted rates from sufficient improvement. As a result the week closed with the fronthaul been done at USD 22,500 levels and NCSA/FEAST coal at USD 26 for second half April dates. Similar was the sentiment for the T/A round which closed at USD 3,250 recording an increase of USD 300. The Pacific market has pulled the rates up and the main reason of this improvement was the Australia iron ore trade which continued to cover some of the many available vessels at the area. Period activity went upwards by USD 500 closing at USD 10,500” said Shiptrade.
On the Panamax front, it noted that “the Atlantic market was considerably improved during this week. The USG seems booming as much coal coming out lately and the demand from Turkey for coal has driven T/A rates upwards. The rates for this kind of trips stabilized around 10500 aps plus around 400,000 balast bonus. ECSA grains charterers still entering the market with fresh requirements to PG-Japan range and the rates for Sing-Japan are now above 17 000 daily plus ballast bonus of 650-700,000 USD. In the Pacific Basin Far East / Aussie rounds closed at USD 7,5 K basis delivery South-Mid China. Sulphur charterers entered the market with requirements from North Pacific and the Nopac rounds closed at USD 8,000 region. The short period rates closed tic below 10,000 whereas one year period rates closed at usd 10,5 k for LME vessels” Shiptrade noted in its report.
Finally, on the Supramax market, “coal requirements reduced, whereas much of demand for Nickel ore traders. In the Atlantic Basin the fronthaul rates stabilized at USD mid-high teens from Med. For clean cargoes the rates were within 15-16 k depending on delivery/size etc whereas vessels able to carry dirties such as HBI got more than 17 k for trips out. From Continent the fronthaul rates are much lower. We heard that a tess 57 type got 13 k for grains biz via French Bay to Sing-Japan rge. In the Pacific Basin we noted much fewer coal requirements out of Indonesia and consequently the rates dropped 1-1,5 k since last week. On the contrary the Nickel Ore charterers pay more than 15 k basis delivery North China for round trips which is a considerable premium for ows who are reluctant to carry this commodity. Besides Many coal/nickel ore charterers entered the market looking for short period vessels with ows asking 12.5 k for tess 53 type against charterers high 11 k” concluded Shiptrade.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
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