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Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of falls, the dry bulk market is fighting for a revival. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) kept its downward trend, ending down by 1.10 percent to 2,164 points and as a result, it has now been falling for 16 straight sessions. The index has fallen by more than 20 percent since the beginning of this demise, which was on the 28th of October.
Still, some positive development could be seen by the change of tide in the capesize market, where sentiment is coming back, as proven by the past couple of days of trading, when capesize managed to end their fall and even post some slight gains. But it wasn’t iron ore demand (which is still subdued) that trigerred the change, but instead it wal rising coal demand.
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According to Fearnley’s latest weekly report, “after a week with weaker rates and a negative sentiment, the bottom seems to have been reached in the capesize sector around low usd 10s pmt for west Australia to China and around usd 27 pmt for Tubarao/Qingdao. The main reason why we seeing rates more stable, is a more balanced supply and demand in the Atlantic and finally more TA coal cargoes. As winter is arriving, increased coal trade is further expected. However fronthaul cargoes account Vale along with spot fronthaul cargoes account Chinese is more or less none existing. Period activity and rates in general will remain dull until this change” said the report.
As for the Panamax, the “market continued its nervous tendency with rates still slipping. Last week LMEs fixed in the usd 17000 level for Atlantic biz, now with more spot tonnage open this week, the fixing levels hovering in the low usd 15000. The ballasters from India/Pacific Ocean are still fighting with the tonnage in the Atlantic for fronthaul cargoes, which pushing the rates down around $1500, to high $25000 levels. In the east the rates continued to slide, which gave Pacific rounds levels at usd 18000, down $3000. Backhauls remains more or less unchanged at $11000” said Fearnley’s.
Meanwhile, in a mid-week note released from Jeffrey Landsberg, analyst with Commodore Research & Consultancy, there’a another mention on the factor of Indian iron ore. Commodore had said early this week, that a surprising number of vessels was chartered to export iron ore form India last week, with 16 vessels in total. This represents a sharp increase from only three vessels chartered to haul Indian iron ore during the previous week and up significantly from a trailing four week average of 5 vessels. Last week actually marked the largest number of vessels chartered to haul Indian iron ore in any single week this year - an impressive feat considering the current downturn in the market.
“So far this week, only 2 vessels have been chartered to haul Indian iron ore. Indian iron ore fixture activity has returned to levels seen before last week's surge. The Karnataka iron ore export ban remains intact - but last week's surge in Indian iron ore fixtures remains intriguing. Since such a large increase in Indian iron ore fixtures came to the market, it was possible that signs were surfacing of an end to the Karnataka iron ore export ban. This is not the case yet. The Karnataka iron ore export ban continues, and the sudden surge in Indian iron ore fixtures has ended” said Commodore.
Another issue that is troubling ship owners and ship brokers alike is the speculation that China will raise interest rates, maybe even today (Friday), on an effort to tame inflation and an overheating of the econonmy. This development could very well result in a reduction of iron ore imports, which could lead freight rates to even lower ground. Meanwhile, as has been the case each times the BDI falls to new lows, some ship owners are contemplating phasing out their oldest dry bulk carriers. This could lead to an easing off of oversupply issues, which have become more evident than ever during the second half of the year.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Parliament of New Zealand
- The University of Queensland
- Australian Coal Association
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- PTC India Limited - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
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