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Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session down by 2.03% to 1,253 points. As has been the established trend so far this week, the bigger ships have been taking the biggest toll, with Capesizes losing 3.24 percent on the day to just 1,345 points (Baltic Capesize Index), with daily rates still below break-even point, while the Panamaxes have also seen thin demand, with the Baltic Panamax Index retreating yesterday by 3.86% to 1,845 points, which is still way above the capesize segment, in yet another odd signs of the current times. On the positive side, Supramax owners have been enjoying the current robust demand for their carriers, with their rates up by 1.91% on the day.
Commenting on the Capesize market, Fearnley’s latest weekly report said yesterday that although there was a little more activity last week, this has slowed down and rates have fallen slightly. This combined with increased bunker prices result in even lower returns for owners. Despite an increasing number of vessels not trading the oversupply is still the major problem, and with new cyclones hitting major loading ports in East Australia the market becomes even more frustrated. Presently owners are willing to fix out their tonnage at usd 16000 per day for 12-month period, which is a considerable premium over the spot market, but these are new record low levels for this kind of fixture.
On the Panamax front it mentioned that “the positive trend from last week gradually faded out, lead by lack of fresh USG/ECSA grain requirements in the Atlantic, a sliding forward curve followed by a falling period market in the Pacific. Despite prompt vessels under pressure still some healthy numbers achieved in the Atlantic; typically 25000 + 500BB for Fronthaul and mid teens for transatlantic rounds. The Pacific saw rates coming off significantly to lower teens for Nopac rounds and a growing spread between spot- and period rates.
Charterers and operators are holding back and reducing their activity. Takers for longer periods clearly stand off as the forward curve test very low teens and most Owners still hope for a recovery to do high teens for same. On a positive note there is growing local enthusiasm with the commencement of the Nordic World ski championships in Oslo” said the shipbroker.
Meanwhile, the container market has yet to “recover” on the news of Maersk’s huge newbuilding order for 10 firm plus 20 optional 18,000 TEU container vessels. AP Møller has been in talks with DSME regarding the 18,000 TEU design for quite some time, and now finally confirmed. According to AP Møller, these vessels will burn 35% less fuel per container compared to the more standard 13,000 TEU container vessels operating today. In another report on the newbuilding market, Clarksons said that with the holidays now firmly behind us we continue to see the yards reporting new business being concluded. “As previously discussed, container enquiries in particular look to be the leading factor in generating this momentum as dry and wet remains relatively stagnant. With the container story continuing to press forward - this is ultimately inhibiting the shipyards willing to push pricing on other sectors and attempt to bridge the bid offer spread, that continues to stifle the potential for further volume.
In the short term, we don't anticipate this dynamic to change - and yards will want to exploit the shipbuilding demand that exists outside of dry and wet - and try to extend their forward orderbook coverage and take the pressure off themselves to yield to what is a weaker demand story so far. In terms of reported business; In Dry, Hanjin Shipping have contracted a pair of 180,000dwt Capesize bulk carriers at Daehan, these are scheduled for delivery in 2012 and the reported price for these is USD58.5 Mill per vessel. In China meanwhile, it has been reported that Shanhaiguan have won an order from Greathorse Shipping Holdings for 4 option 4 x 76,000dwt panamax bulkers, with the firm vessels due to deliver in 2H 2012 and 1Q 2013. It is understood that these vessels may have been signed at the end of last year and are only fully coming to light now” said Clarksons.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- VISA Power Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Agrawal Coal Company - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
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