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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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Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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