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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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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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Showing 5371 to 5375 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
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