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Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
 The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (BDI) from late 2008 and until today. Yesterday, the industry’s index was almost stagnant, falling by a marginal 10 points at 2,981, with the panamax and supramax sectors posting small gains, while the larger capesize vessels losing some ground.
The latest weekly report from Paris-based shipbrokers Barry Rogliano Salles (BRS) said that rates came under pressure last week, with all segments posting declines except the capsizes. “Overall the BDI logged a 3% drop, despite a 5% increase in Cape rates” said the broker.
Of course, the past week’s news were all about the outcome of the iron ore negotiations, where both participating sides turning up the heat. “China’s Iron and Steel Association called on its members to impose a two-month boycott of the three major miners in protest at steep price rises. CISA said stockpiles were sufficient to keep the mills supplied for this time, although opinion was divided whether CISA’s 120 members, accounting for 90% of China’s steel output, could be persuaded to comply. Members may fear a repeat of last year, when they refused prices agreed by the Japanese only to see spot levels continue to climb.
Meanwhile Vale stated it had signed new quarterly contract deals with the vast majority of its clients, equivalent to 90% of sales volumes under contract. It is not clear how many Chinese buyers are included in this total, however. More than three-quarters of Vale’s sales to China were made on a spot basis in 2009. However the Brazilian miner did say it expected to sell 45% of its volumes to China on the spot market in the current year” said BRS.
On the capesize front, it was a stronger week, although for the most part gains were only evident on the Tubarao - China, and Richards Bay - China routes where rates jumped between 7%-13% between Monday and Thursday. Rates hardly moved in the Atlantic, where there was little fixing. Sentiment still seems relatively positive for the short term, with both period charters and forward rates above spot prices. Third quarter FFA rates are currently trading at US$32,570/day. Overall the four time charter finished at US$30,641/day on April 1 ahead of the Easter holiday. However at the resumption of business on Tuesday it fell back to US$29,919, while the BCI fell 52 points to 3,377 points.
Meanwhile, on the Panamax front and particularly in the Pacific, cargo enquiry, especially for Indonesian coal, returned again, after an almost two-week break. “Time charter levels are now above $28,000 per day for a modern Panamax delivery. At the same time, we have also seen many vessels open for prompt dates, especially older vessels without RightShip approval. Some iron ore traders are still active, especially on WCI and PG: older Panamaxes open WCI were fixing at US$28,000/day back to China for dates at the end of April, and at least US$37,000 daily for a modern Panamax open PG prompt. Some vessels open Singapore or south east Asia are still opting for ECSA grain, with modern Panamaxes pushing for over US$33,000 per day and older vessels for mid/high US$20,000s” said BRS.
As for the smaller supramax/handy vessel types, rates were declining across the board last week, with the supramax time charter average ending the week at $25,188, compared to $28,829 in the previous week. As for the handy market it stood at $19,781 versus $21,434 a week earlier. “The underlying sentiment remains firm, however, with still a fairly large amount of iron ore to move out of India, coal out of Indonesia and grains out of ECSA. This being said, open positions remain plentiful though not always exactly where they are needed. The immediate effect has been that charterers have become more picky when it comes to short period tonnage, with positioning becoming of dramatic importance” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
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