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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advantage of the improved conditions.
As China slowly is expected to renter the market, with fresh cargo demands, freight rates are expected to rebound even more than today’s levels. Yesterday was one the most positive days in recent weeks for the industry’s benchmark, the Baltic Dry Index (BDI), which rebounded by 4.03% to reach 1,136 points. The Capesize segment was the star of the day, leading gains with a rise of 5.77%, closely followed by the Panamax market, which has been on a high for several days now. Still, smaller Panamaxes can fetch higher earnings than their Capesize bigger “brothers” in a clear indication that the anomalies of the market aren’t yet over.
In its latest report, shipbroker Fearnley’s stated (for the capesize sector) that “for first time in many years, the market has remained inactive during Chinese New Year. As we were approaching the end of the Chinese holidays, there were growing expectations about more activity, seen in the ffa market; Panamax and Capes substantially up. However, with the Chinese back in office, it became clear that they were adding more ships rather than cargoes into the equation. Nevertheless, despite an unknown number of ballasters and ships at anchor around, rates were improving slightly the first day in the year of the rabbit, west Australia round up to usd 6.50 pmt, and Tub/Qingdao excess usd 17 pmt. However, due to the mentioned number of vsls in ballast, there are still some challenges ahead” said the shipbroker.
Regarding the booming of late Panamax market it said: “It was a quiet start to the week on Monday, but this took a turn on Tuesday with more activity in the Panamax market. This turn was much lead by anticipations for Wednesday when the Chinese were back. We saw more cgo in the market on Tuesday but not to the extent that it should give support to a sky rocketing market for the next couple of days. The short/medium period market did however firm up and 17k was done for both 4/6 mos (kmax) and 8/9 mos (LME). This found support in the FFA market where the big grain houses drove the trade upwards lead on anticipations. This again took a turn on Wednesday when the paper market took a beating in the morning, causing several deals to fail. The Tarv´s are getting fixed in the region of usd 13-14k while candidates willing trip from Cont to FEast at low 20´s. Pac rounds firmed up from last week and are now paying around 10k while the backhauls are getting around 4k” said the report.
As for the smaller handy segment “Atlantic is still weak with little fresh enquiry and an accumulation of spot tonnage. Owners are reluctant to send tonnage thru Suez due to uncertainties caused by the Egyptian crisis. USG has been absorbing tonnage (mostly petcoke/ grain) on an APS basis and low 20´s levels for trips to Med/Cont. A 55kdwt was rumoured fixed for 2/4 months at usd 18k dely NCSA redel Atl. ECSA Supras are being fixed in the low teens APS with BB for trips in Atl. The general sentiment is that the market has bottomed out and a small recovery is expected. Outlook: Gradually recovering market. Activity remained quiet this week but expected to increase a bit as Chinese are coming back from holidays. Supra rates improved a little over usd 6k bss N.China dely for Indo-India and Thailand rounds. From WCI, owns asking around usd 17k and ECI to east usd 13k. RBCT rounds around usd 15k bss WCI. Short period Supra rates still around usd 14k. Hmax cargoes from R.Sea to India are fixed around mid 20s on voyage” concluded Fearnley’s.
Meanwhile, dry cargo ship owners with smaller vessels are taking advantage of current spot market conditions, especially when it comes to sugar and grain trades, traditionally handled by supramax and handysize ships. With demand for grains soaring globally has benefited smaller vessel owners, which in turn have responded by switching part of their fleet towards the spot market, in a bid to secure more earnings. This has been the case with Eagle Bulk Shipping, which has placed half of its supramax vessels to the spot market.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Sical Logistics Limited - India
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