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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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- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- PTC India Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
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