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Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% to 1,446 points. Capesizes and Panamaxes have been the stars so far, with the Capesize market gaining 4.08% and the Panamax one returning to rising levels by an equally impressive 4.39%. Of course, one should take into account that traditionally this time of the year, the dry bulk market experiences its highest seasonal demand, which could help justify this week’s rise. But, on the other hand, oversupply issues haven’t just “magically” gone away and will keep on pressing the market and causing high rate volatility.
Yesterday, brokers and analysts alike were speculating that behind this week’s rise, is the potential decommissioning of some vessels.
“No owner’s going to continue doing business at $4,000 a day or $6,000, below operating costs,” said Hendrik Leusink, division executive for capesize and panama vessels at Island View Shipping SA, South Africa’s biggest commodities shipping line.
Quoted by Bloomberg he mentioned that “people will put ships into temporary lay-up or idle ships.” Operating costs for the vessels are between $7,500 and $8,000 a day, according to estimates from London-based Simpson Spence & Young, the world’s second-biggest shipbroker. Capesizes were below that level from April 11 to May 19.
In its latest weekly report, Fearnley’s mentioned that finally there were some good news for Capesize ship owners, even though rates in general are at a historic low and fundamentals have changed very little over the week. “Driven almost entirely by increased transatlantic coal trades and a steady volume on the Brazil/China iron ore run, average spot levels are up more than 50% to come in at close to USD 9k. Pacific is slow and eventless in comparison, though, with resultant levels for the WAust/China ore run only marginally up at USD 7.35 pmt which is still below opex. Expectations are there for this to last a little longer, thus more period fixing is expected - last done is 178kdwt/built 1998 done for 10-14 months at USD 10700/day basis delivery Qingdao mid June” said the report.
In the Panamax market, “after a slow start to the week, we saw more cargoes in the market on Tuesday with both coal from US and grains from ECSA. Especially the Pacific basin took a turn on Tuesday evening with chrts chasing prompt ships which were lacking. NoPac rounds were fixed at around 14k and still climbing, while the Atlantic rounds were fetching around USD 15k. Fronthauls hovering around USD 250k. It has been some short period activity this week with rates hovering around 13/14k. It was also rumored a kmax being fixed and failed for 3 years at a tick more than USD 14k” mentioned the shipbroker.
Finally, for the smaller ship types, “rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnage on ppt /beg of June positions. US Gulf to the Far East is slowly but surely firming further and more activity seen on transatlantic round voyage. ECSA is balanced with very little movement on rates. Outlook: stable. The Pacific market remains soft and owners unwilling to come in India due to lack of outbound cargoes. For Indo-India, Supras in North China are getting close to 12k. Nickel-ore rounds are getting firm rates in mid-high teens from Indonesia.
WCI-China rates slided to 15k and from ECI around 12k. 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 are now asking 15k. Short period deals done at mid-teens for large Supras” concluded Fearnley’s.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
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