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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 points, down by 0.97 percent. The main losing segment was the Panamax one with falls of 2.28 percent, while the Capesize market was on the upside, gaining 0.68 percent. As it turns out, for the time being, the disaster in Japan and especially the danger of radiation has hit trade activity, limiting cargoes to and from Japan. The country is a strong importer of dry bulk commodities, such as coal and iron ore.
In a weekly report, shipbroker Fearnley’s said that activity in the Capesize sector is up, but the same has yet to be reflected in rate levels as this segment remains generally overtonnaged. “The main WAust/China ore trade is erratic in volume but stable in value at usd 7.35-45 pmt - equivalent to less than opex. Nuclear concerns have given some support to Atlantic coal activity/expectations, with resultant transatlantic levels maintained at some usd 12250 and fronthaul also unchanged at around usd 23350. With an inverted forward curve, period activity is limited to 180kdwt/blt 2009 spot Feast done for 12 mos at usd 16k, 177kdwt/blt 2004 China ppt done for 4-6 mos at usd 15500 and 174kdwt/blt 2007 said to be done for 2 yrs at around usd 17500” said Fearnley’s.
Regarding the falling Panamax market, it mentioned that “with few fresh cargoes entering the market, the rates declined marginally this week. TA´s fixed in average around USD 16k, which is a tick down from last week. South America and coal from US kept the market going. In the Pacific the rates hovered around USD 16500. However rumors stated that Japan would increase their coal import, due to lack of nuclear energy. The ballasters from the Pacific and Indian Ocean obtained decent numbers, around USD 16-17k daily, which was in line with the short period market” said the report.
As for the smaller handy segment, “the Atlantic markets remain 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. Outlook: stable. The Pacific market is still weak; the signs of weakening are lack of fresh enquiries and less trading activities. Indian activities are also very slow. Supras on WC India are seeing high teens for trip to China with freight levels hovering between usd 20 pmt. Supras ex Richards bay coal terminal/India hovering at usd 25/27.00 pmt. Ex Red Sea to India handymax tonnages are seeing mid/high 20´s” concluded the shipbroker.
While things look a bit dim at the moment, there’s hope that Japan’s massive reconstruction process will boost prospects of the dry bulk freight market in the medium and long term. Japan may increase imports of Australian iron ore and of logs and lumber from New Zealand and Malaysia after the March 11 tsunami devastated buildings in the Tohoku region. Following the Kobe quake in 1995, the Baltic Dry Index, the benchmark for commodity-shipping rates, surged 20 percent in three months after initially falling 6 percent in three weeks said Bloomberg in a report. At the same time, dry bulk rates could get a modest boost as Japanese power plants restock coal inventories and steel companies import more iron ore to rebuild damaged output, analysts said.
For the time being though, fears of an ever increasing oversupplied market seem to be materializing, with rates still depressed. Just this week, China COSCO Holdings Co Ltd., the country’s top shipping conglomerate, said it saw huge challenges in the dry bulk market and urged companies "not to be quick to order new ships". Nevertheless, it added that rates could rise later this year.
Source: Nikos Roussanoglou, Hellenic Shippping
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Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
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 ...
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- Antam Resourcindo - Indonesia
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- Chamber of Mines of South Africa
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- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
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- Oldendorff Carriers - Singapore
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- Planning Commission, India
- Trasteel International SA, Italy
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- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
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- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
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- The State Trading Corporation of India Ltd
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- Bangladesh Power Developement Board
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- Georgia Ports Authority, United States
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- IEA Clean Coal Centre - UK
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- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
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- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
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- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
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- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
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- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
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- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
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- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
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- Deloitte Consulting - India
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- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
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- Bayan Resources Tbk. - Indonesia
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- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
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- Energy Development Corp, Philippines
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- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
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- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
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