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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, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
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- Indonesian Coal Mining Association
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
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