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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, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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