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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pattern, falling yesterday for a seventh straight session. The BDI is now down to 1,271 points, again as a result of the suffering from huge oversupply panamax market segment. The relative Panamax Index was down by 4% yesterday to 1,597 points, the Capesize market was practically unchanged, to 1,459, still lagging against its half in size counterpart. On a more resilient tone, the Supramax market was up by six points to reach 1,399 points.
Average daily rates for panamaxes now stand at $12,806, while for Capesizes they stand at just $5,688. Supramaxes command a daily average of $14,625, while handysizes earn $11,679 on average. According to Erik Nikolai Stavseth, an analyst with Arctic Securities ASA in Oslo, who was quoted by Bloomberg, the decline may continue in the panamax front. He said that they expected a further weakening in the panamax market as reports indicate a high number of vessels available. According to the analyst, power shortages in China and low coal inventories will most certainly boost coal imports, but again they won’t be enough to lift rates.
Commenting on the panamax market, Fearnley’s said in its latest weekly report that “another relatively slow week, still shoving some activity from EC South America, but some fix and failures as market clearly is in a downward trend. Rates nudged up to the mid USD 25k daily range and around USD 500k bonus on the run to the eastern hemisphere. For Transtlantic business the pressure on the Continent for prompt tonnage seems to ease and rates on average around the 13k mark. Rates in the Far East also heading south with spot-prompt ships struggling to find cover from any fresh orders as rates descend closer to the 10k level. Period business very limited and the forward market now rating the next 18 months just under USD 12k/day. Other segments not adding any support or fuelling a bearish sentiment” said the report.
As for the Capesize market, it mentioned that “during the past week, two more 12-month period deals have been done at a lower USD 11500. Even as new lows are reached the volume is thin. The recent fall in bunker prices has not come to the owners benefit, but rather to the charterers. Rates across the board have fallen during the last 7 days and today the weakest market is the in the Atlantic. With the present spot market charterers are also struggling to make sense of taking short period vessels as it is difficult to recover the premium vis-a-vis the spot market” said Fearnley’s.
Finally, on the Handy/Supramax markets: “The Atlantic is marked by volatility and very positional, nevertheless USG, NCSA, Cont remain strong thanks to the petcoke, grains and scrap but the flooding in the Mississippi could have a negative effect on the market. The S.Atlantic is a bit more active and seeing more and more tonnage ballasting from Med. The Bl.Sea is difficult for Supras. Trips to Feast are at 20k+400k levels.
Outlook: Steady. Pacific market remains quiet. For Indo-India, Supras in N.China gets close to 13k. Nickel-ore rounds get firm rates in high teens from Indonesia. Also many owns prefer to do now Indo coal or nickel ore to China rather than going to India owing to monsoons. WCI-China rates slided to 15k and from ECI around 13k, but few ships seen ballasting to Indo as not much cargoes ex-ECI. Red Sea, ferts on handymax/Supras are fixed at very mid 20´s pmt on voyage basis to WC India. Large Supras for RBCT/India round now asking 15k. Short period deals done at mid-teens for large Supras” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Planning Commission, India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
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