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Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains of 3.12 percent in the Capesize market. It was the second day of gains for the market, on the aftermath of the devastation in Japan,
which is still expected to impact the market, both in a positive way and in a negative way, depending on the type of trade. Still, as analysts noted, the Capesize segment, which is the most overweighed by a huge orderbook and a flurry of new building deliveries, remained among the lowest earning ones for ship owners, with average rates now standing at just over $10,000 per day.
In the short term, the disaster in Japan has resulted in a slower flow of dry bulk commodities to the country, mainly iron ore and coal, although there are some signs of incoming improvement as the Asian country’s industry slowly begins its return to business. This means that power plants will begin to restock their coal inventories, while Japanese steel companies will begin importing iron ore again to rebuild their damaged output. Still, according to Will Fray, a senior analyst with consultants MSI, quoted by Reuters, “I wouldn’t necessarily see recent gains as significant. The interesting thing to see is that capes, where the current supply overhang is most evident, are still the lowest earners. Spot ore import activity is not strong enough to improve rates there -- trade has certainly been slower to China for several months now, linked to a cooling in steel production” he said.
Meanwhile, according to the latest weekly report from shipbroker Fearnley’s, “the capesize market continued to fall through last week bottoming out on Monday at an average time charter rate of USD 9,298. This has now picked up to USD 10,089 which is still not very exciting. Nonetheless, the paper market is enthused and the front end of the curve has picked up somewhat, but not enough to allow a repeat of the 3 year fixture reported last week. There are takers for this period but they are rateing lower numbers and owners are not ready to accept these figures. On the spot market fixtures remain relatively flat and the Atlantic continues to be stronger than the Pacific. In general, uncertainty due to events in Japan and in the Mediterranean are keeping the market weak, though there could be some more near term activity in the Atlantic due to nuclear plants in Germany being taken off line for safety checks” it said.
Regarding the Panamax market, it mentioned that after a slow week with marginal decline in rates the market found support with levels moving upwards from mid week. “This was predominantly driven by ECSA and USG grains and short period activity to cover same with owners now able to secure healthy USD 27,000 with equivalent ballast bonus for front haul. Short period was also fairly active with grain traders and operators booking tonnage in the Far East in the mid 17,000 range. Lack of other fresh mineral business in both hemispheres kept a stable but not very enthusiastic sentiment. North Pacific and Pacific business is fixable at mid to upper teens while Atlantic rounds close to 17,000/day. One year period is being secured at 16,500-17,000 but takers are reluctant to pay owners similar levels for longer duration” said the shipbroker.
As for the smaller segments, which are supported by current robust grain trade activity, Fearnley’s added that “the Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras. The USG remains firm paying in the mid 20´s for trips into the MED and low/mid 30´s for trips FE. Nevertheless tonnage is piling up again with ballasters which will push rates downwards in a few weeks unless activity picks up more to absorb tonnage. In the Pacific, there is a tight tonnage supply on prompt positions in China/SEA for mostly handy up to 45,000 dwt which means rates are on the rise for those sizes. Supras on the other hand, are in abundance. There has also been a high amount of short period activity with charterers scrambling/hoping to take tonnage ´on the cheap´. The Far East remains reasonably tight on prompt tonnage, however with activity low and owners resisting. The market for North Pacific/Indo/India for tonnage delivering North China is in the USD 16,000 range” the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
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