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