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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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Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Planning Commission, India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
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