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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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Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- PTC India Limited - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- The University of Queensland
- Parliament of New Zealand
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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