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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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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
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