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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, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
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