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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index (BDI) further down to 1,250 points, 0.32% lower than the previous session. The Panamax segment once again suffered the bulk of the losses, while the Capesize market was marginally higher by 0.39% to 1,546 points.
In its weekly report, shipbroker Barry Rogliano Salles said that the Capesize market was relatively inactive last week, partly due to the Easter holidays which triggered a lull in the market. “The levels remained grossly flat at the weak level of about US$6/7000/day on average. Partly due to chtrs holding back nominations under their COA’s until the end of the quarter, a severe lack of cargo was felt, particularly for loading in the Atlantic, which meant that owners had to lower their rates to obtain the rare business around, and a TARV was worth a very low US$4/5,000/day while Fronthaul business gave returns in the high teens.
A more regular amount of activity in the Pacific enabled the rates to sustain themselves unusually higher than in the Atlantic, standing at around US$6-7,000/day. Backhaul cargoes were still extremely scarce and continued to pay a negative return of about minus US$7,000/day. Ships in the PG could obtain mid teens return for a trip via India to china. On the period front, short period deals are now worth in the low teens dely China redly ww, depending mainly on eco consumptions as in these market conditions of rock bottom TC rates and very healthy bunker levels the vast majority of the cape fleet is slow steaming. This week started quietly and we will need to see a fresh income of Atlantic cargoes to make the market move” said the report.
Regarding the Panamax market, BRS noted that during the course of the past, the Baltic Panamax Index eased by $1,000 in all basins which represent a significant loss of around 10%. The Pacific rounds were fixed at mid US$8,000/day and the TA round at just below US$11,000/day. The main reason of this trend was the lack of cargoes worldwide and the good number of spot vessel looking for business. The Period activity was the most impacted market as it tumbled and lost US$2,500/day opening the week at US$14,500/day and closing it US$12,000/12,500/day for nice TES 74 dwt.
As for the Supramax/Handy segments, “ast week we had a slow activity on the market due to the Easter holidays break, the Supramax market has been slowly sliding down in all areas. During this Easter mood, the BSI lost only 13 points to reach on average of the TC routes of US$14,645 at the end of the week. Out of the USG owners were fixing their Supras around US$23,000 daily for redelivery Skaw/Passero whereas redelivery Singapore/Japan was fixed in the low US$30,000. The Black Sea/Med area was not improving, most of the ships were ballasting out, the lucky ones fixing clinker or steels. A large supra was fixed at US$7,000 delivery Black Sea/redel USG. The Supramax market in the Pacific has been on a downfall since last week. Owners were trying to resist as feel market will bounce back this week due to more iron ore, nickel ore cargoes coming out but charterers pulling rates further down.
WCI India iron ore stems have increased as miners are trying to move as much as possible before the monsoons start. A few Indo coal stems, which were usually covered on COAs have been seen on the spot market. The Index for the pacific round ended in the 14k-15k levels. Modern Supramaxes are getting interest for short periods in the mid teens” concluded the shipbroker.
Meanwhile, in a separate report, Commodore Research & Consultancy focused on China developments, noting that 11 vessels were chartered to export thermal coal to China last week, 8 more than the week before that. “Domestic thermal coal prices remain relatively low compared with international coal prices but the overall price differential is slowly increasing. Australian coal cargoes remain unattractive, however, as freight costs exceed the difference between Datong and Newcastle prices. The differential between Datong and Newcastle FOB prices has increased to $7.50; last week the differential was $6 (the price of Datong coal has held steady at $129/ton; the FOB price of Newcastle coal has declined to $121.50/ton). The cost of freight to ship Australian coal to China currently stands at roughly $12/ton, well above the $7.50 price differential.
Chinese iron ore production has increased significantly on a month-on-month and year-on-year basis. Approximately 94.4 million tons of iron ore was produced in March, an increase of 21.9mt (30%) from 72.5mt produced in February and 14.7mt (18%) more than the 79.7mt produced in March 2010. Compared to the first three months of 2010, Chinese iron ore production has increased this year by 36.6mt (18%). Domestic iron ore production has remained at high levels due to lucrative prices. Production is expected to remain firm while prices stay high. Although iron ore imports will continue to be negatively affected by robust domestic production, imports have been able to remain at firm levels as demand has stayed robust” concluded the US-based consultancy.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Minerals Council of Australia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
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