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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, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Planning Commission, India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
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