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Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the Supramax Index rising by 22 points, as rates for supramaxes were up by $229 to $12,852. Similarly, average daily rates for Handies were higer by 440 to $10,334. Capesizes also moved to higher ground, as the Baltic Capesize Index was up by 14 points, or $170, with average daily rates now at $3,826. By contrast, the Panamax market has kept on falling, as average earnings yesterday were set at $7,815.
In its weekly report, shipbroker Fearnleys noted on the Capesize market that “bunker prices have stabilized at lower levels and the freight market has seemed to have stabilized, with the exception of the Atlantic which is dismal. The usual large operators have continued to turn over their fleets at stable rates (just below USD 10k daily). The front haul market has also hit a bottom, and is now flat. We do not expect any major movement in the rates and any changes are more likely to be related to bunker cost than to the basic supply and demand picture” it said.
In the Supramax/Handysize markets, Fearnley’s noted that «the Supramax market is still looking very healthy compared to the other sizes of tonnage. In the Atlantic supply of fresh orders helped the rates to reach the range of USD 24-25k for the voyages from USG/ESAM to Continent and Med. Period activity focused mainly on 3/5 or 4/6 months employments for which vessels were paid USD 8.5/10k daily based on the delivery in the East. Pacific market has been steady and looking to remain firm in coming days as rates are getting firm on Indo and Nopac rounds. For Indo-India, large eco Supra now fixed at USD 9k basis South China dely. Some owners also asking for low teens for SE Asia dely. Nopac also fixed bss at USD 10k basis Japan. Indian iron ore market remains quiet with less activity on WCI & ECI. WCI-China rates around USD 8k and ECI-China around USD 5k. RBCT rv fixed at APS
USD 10k + BB USD 350k. Red Sea fertilisers to India are fixed high teens. Not much activity seen on short period and rates around USD 9k for large Supra” the report noted.
Finally, on the Panamax front, it noted that “even though there were fresh cargoes entering the Atlantic it is not sufficient to have any major effect on the rates due to the growing list of available ships. In the Med, the tonnage list is shorter, perhaps giving owners the idea they might achieve good rates, however it is simply not a demand for prompt vessels in this area. More cargoes are appearing in the Atlantic for end July dates, however this is of no comfort to the many owners with prompt positions. Tarvs now being fixed in region of USD 8k. The ECSA market is served by ballasters from India and the Feast were they achieve rates around USD 14.5+475k BB basis APS delivery. Pacific market is quiet but rates seem to be quite stable with Aussie and Indo RV being the prominent trades. As for Nopac, the grain cargos are quite scarce. Rates for rounds are around 5-6k. The period market finds little support and few fixtures are reported this week. Short periods like 4/6 mos are being paid in region of 9-9.5k for Feast delivery” Fearnley’s concluded.
In a relative note, Commodore Research noted the effect of the recent weather conditions (heavy rainfall) in Southern China, with regards to the dry bulk market. Commodore mentioned that Chinese hydropower production has continued to surge and is putting added pressure on demand for thermal coal. With drought conditions finally seeing real improvement, it is possible that hydropower production will approach record levels within a few months. Panamax rates have been most affected by the decline in demand for imported thermal coal cargoes and are poised to come under additional pressure” mentioned the US-based analyst.
It added that “to make matters even worse for upcoming thermal coal demand prospects (and better for hydropower production prospects), southern China is now expected to be hit by another tropical storm. Tropical Storm Doksuri is currently situated east of the Philippines and is expected to head on a northwesterly track towards China. As of now, Tropical Storm Doksuri is expected to make landfall near Hong Kong on Saturday and bring a very large amount of rain to southern China over the weekend. Hydropower production will benefit if the storm continues on its projected path and makes landfall as planned. As hydropower production increases, there will be less demand for thermal coal” the company concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- PTC India Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
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