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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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Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
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- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
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