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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, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Australian Coal Association
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
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