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Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BDI) increased by 1.48% and reached 1,369 points, the highest it’s been in six weeks. Capesizes and Panamaxes were the main gainers. Especially, the larger Capes have gained 43% in the past four sessions, bringing the daily average charter rate up by 43% to $8,065. At the same time, the up until recently struggling panamax market was up once again, this time by 2.7% with daily average rates now reaching $13,724.
According to the latest report from shipbroker Barry Rogliano Salles, the past week was deemed an unusual one, with Capesizes being the only segment to post significant gains. The BCI rose 9% w-o-w, while the overheated Panamax market saw a correction of -3%. Providing some more insight on the Capesize market, BRS said that it was a “strong week in the Atlantic, where rates showed double-digit gains, which lifted the BCI above 1,600 points for the first time in 6 weeks. A scarcity of ships in the region intensified the rate gain in the west and a translantic round was reported at US$8,500. In the Pacific, there remained heavy over tonnaging, although Brazil-China inched up by around 3%, with a possible deal done at US$19.50. Australia-China was unchanged. By the end of the week the four time charter average had reached US$7,754 and rates rose again slightly on Monday to US$8,065”.
Regarding the Panamax market, the report mentioned that “it started the week slowly and eased in all basins mainly due to a lack of fresh orders for prompt vessels. However, from Thursday, the market firmed up again thanks to a busy USG coal export trade and an active ECSA area exporting grain to the Far East. This latter trade over the last month has significantly decreased the available fleet in the Atlantic and pushed the TA round voyage up. The 4TC average Friday to Friday lost US$450 to finish at US$13,364 per day. The TA round lost US$200 closing the week at US$14,000 per day and the Nopac lost US$600 to close the week at US$12,000 per day. The WCI/China route kept flat paying US$13 pmt for Goa/N China trade. Short period activity was quiet throughout the week and rates firmed up by US$300, closing the week at US$14,500 per day” said the Paris-based shipbroker.
As for the smaller sizes, “the Baltic Supramax Index remained at the same levels at the beginning of the week before rising continuously as from Wednesday until the end of the week. Overall the Baltic index gained 20 points to finish at 1,413, while the average of the time charter routes gained US$210 points to end at US$14,770.
The US Gulf was the main driver of the Supramax market, though only a few fixtures were reported. Supras from the US Gulf to the Far East were fixed in the high US$20,000s, and around US$28,000 for Mediterranean destinations. Black Sea to the Far East (via Goa) were fixed around the US$22,000.
In the smaller sizes, the Baltic Handysize saw a mini yo-yo effect but remained steady overall throughout the week. The index lost 2 points to end at 786, while the time charter average lost US$39 to finish at US$11,662. The main event for the Handysize is the revival of the Black Sea market which has started to export grains again. Many players were fresh open with orders mainly to the Continent or the Spanish Mediterranean. Such trips would run around US$18/19,000. Fixtures from East Coast South America to the Far East are in the low US$20,000s and around the high US$10,000s to the Med/Black Sea area. On the Eastern side, Supramaxes ex India to China were fixed around US$13/14,000. Indonesia to India was done in the mid US$10,000s. The Nopac round was fixed at levels of US$12/13,000 dop Far East” concluded the report.
In important news for the market, OECD released a new report confirming strong expansion in world steel markets and forecasting 6% growth for both 2011 and 2012. World steel output growth slowed in the second half of last year but, on the back of Chinese demand, rose nearly 10% in the first quarter of 2011 q-o-q. However Chinese growth is expected to fall to around 5% in 2011 and 2012. Overall the world economy had seen strong recovery in automotive manufacturing in both the mature and developing economies, though demand in the construction sector has yet to recover in the advanced economies.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- The University of Queensland
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
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