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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
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- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
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