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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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- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
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