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Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 percent and ending the session down to 1,498 points, or about half of where it stood a year back.
The biggest losses were recorded in the panamax front, which lost 1.87%, while the Capesize market was also down by 0.73 percent. Last week, the BDI closed at 1,520 points, with Capesize still earning just $10,554/day, while the smaller in size Panamax ship types were averaging a substantilly higher $15,463 on a daily basis. The even smaller Supramaxes have proven more resilient, earning their owners a daily average of $15,795.
According to the latest weekly report from BRS (Barry Rogliano Salles), there was a general slide in rates this week, with the Panamax and Supramax markets affected by a slowdown in South American grain exports. Meanwhile the previous week’s re-appearance of Japan in the market did not have much of an impact this week and the Cape market came off slightly. In the iron ore market, China’s efforts to control more of the ore trade are starting to take effect with the China Mining Association claiming the country will manage 200m tons in overseas ore by 2014, up from 110m tons this year. The Association also predicted domestic iron ore production will grow between 6% and 8% this year, up from 1.07bn tons of iron ore in 2010 (itself a near 22% increase on 2009). Confirming the trend to extend its reach overseas, this week Wuhan Steel confirmed it would begin mining ore at its Liberian Bong mine in 2012. Initial capacity will launch at 1m tons/year, though the company has plans to expand it to 10m tons/year.
“Activity levels were relatively high in the Cape market this week, but again the sheer number of vessels available for hire kept rates at the same level. We have now seen 80 Capesizes of 13.5m dwt (ships >83,000 dwt) delivered in the first three months of 2011, compared to 60 vessels of 10.9m dwt in the equivalent period in 2010. Friday-to-Friday the BCI fell 13 points to 1792, while the four time charter average finished the week at US$10,554. In the period market, levels also remained stable, with an 180,000 tonner fixed at US$16,000 per day for 11-13 months trading, delivery ex yard in China” said the report from the Paris-based shipbroker.
As for the Panamax markets, the Far East area was quiet and the few spot coal cargoes out of Indo and Australia were mainly fixed under contract. In the Indian Ocean, iron ore exports slowed down too and Panamax tonnage was fixed from WCI to China at US$15 pmt, down from US$16 pmt a week ago. This weaker market pushed many ships to ballast into the ECSA basin, pushing down this market and the TA round lost more than US$1,000 to close at around US$15,000 per day. We noted however that some quick TA rounds were fixed at well below those levels. The short period market logically eased too by more than US$1,000, and BPI index vessels are now getting between US$15,000 and US$16,000/day.
In terms of S&P activity, the week ended with 27 sales reported in the secondhand and demolition market posting a 42.5% negative w-o-w change with buying sentiment being centered again both on bulkcarriers and tankers said a separate report from Golden Destiny. The highest activity has been recorded in the secondhand market, while the newbuilding market these last two weeks remains on low levels.
“In the secondhand market, 20 vessels reported to have changed hands this week equalling a total amount of money invested in the region of US$ 280,95 million, however six of the reported deals were at undisclosed prices. In terms of reported number of transactions, the S&P activity has been marked with a 20% negative w-o-w change, while is down by 37.5% comparable with previous year’s weekly S&P activity when 32 vessels induced buyers’ interest with bulk carriers again grasping 31.25% share of the total volume of S&P activity. In terms of invested capital, the tanker sector continues to appears to be the most overweight representing almost 80% of the total invested capital this week.
In the demolition market, it was a quiet week with just 7 vessels reported to have been headed to the scrap yards of total deadweight 261,467 tons. In terms of reported number of transactions, the Demolition activity has been marked with a 68 % negative w-o-w change, while in terms of deadweight the weekly negative change was around 40%. In terms of scrap rates, the highest scrap rate has been achieved this week by India for a general cargo vessel that seems to obtained $ 483/ldt, with Bangladesh being again out of the market since the situation still remains uncertain.
The Greek presence this week was noticeable both in the secondhand and the newbuilding sector. In the secondhand market 2 transactions appeared in the frontline, one in the Capesize sector and one in the VLCC sector, both from well-known players of the industry, while in the newbuilding sector the investments were centred in the bulkcarrier, gas tanker and once again container sector. The total invested capital remains unknown since no prices have been
revealed for the majority of the transactions” concluded Golden Destiny’s report.
Source: Nikos Roussanoglou, Hellenic Shipping
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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 ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- The University of Queensland
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
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