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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer cargoes. The industry’s benchmark, the Baltic Dry Index (BDI) fell to 1,254 points prior to Easter holidays, down by 0.63%, now standing at new lows. The Capesize market was lull remaining unchanged, with the biggest losses occurred in the Panamax segment, which retreated by 2.69%.
According to a weekly report from Shiptrade Services, “the Capesize market saw some good levels of fixing as demand grew this week in the Pacific for voyages from W. Australia to the Far East. As a result we saw some gains on Pacific RV which appear marginal as a result of the continuous overcapacity which is affecting the market. The Atlantic remains significantly subdued with the tonnage list ever increasing as ballasting vessels to the Atlantic have put more pressure on the market and have increased the congestion in South American ports.
The Panamax market showed some promise in the beginning of the week with a few fresh cargoes entering the market. However the effect was that due to the ample abundance of tonnage these cargoes were covered quickly and tonnage in the Pacific started to pile up further. Moreover in view of the upcoming Easter holiday it is unlikely that the situation will improve. Owners in the Atlantic have tried their best to resist the pressure but with such high levels of competition rates have unavoidably softened.
The Supramax market has faced another sliding week. In the Atlantic owners have tried to hold back however this does not seem to be sustainable with very limited business in the region. Rates in the Pacific are showing a sliding direction since demand has been thin and the region is still heavily constrained by the excess supply of vessels. There was no hope for fixtures out of India either this week, with an obvious drop in iron ore cargoes coupled with the effects of higher taxation on exports.
The Handysize market is the only one which managed to keep fairly stable this week. Rates across the board have even been showing slight gains. That is not to say however that there is a definite positive market direction. In ECSA we saw a positive note with a few more enquiries appearing for fronthaul trips” said the shipbroker’s report.
It went on to say that according to data from the Chinese Iron & Steel Association (CISA), the national daily crude steel production during March remained at positive levels, up by 4.6 %. Preliminary data from Chinese customs show an increase of Iron Ore imports by 22% in February. Australia on the other hand, according to the North Queensland Port Authority, shows a recovery in March shipments from Hay Point and Dalrymple Bay despite the latest severe flooding. The US Department of Commerce released its latest data showing a 52% year on year increase for US seaborne coal imports, which is the highest level seen since March 1992. Furthermore it seems that Japan became the largest single destination of US coal exports in February with 1.3 Million tons being imported against the 2.9 mill tons imported in total last year. In general the exports from US to the total Asia-Pacific region rose to 54% during February.
The latest world economic outlook from the IMF shows unchanged forecasts of 4.4 % for the world economic growth, although it continues to expect 9,6% economic expansion for China and it has lowered its estimates about India to 8.2% and the Middle east and North Africa to 4,1%. US Department of Agriculture has increased its estimates and now expects that world grain trade will total 269.57 million tons, increased by approximately 1.2 million tons than what was originally expected, this increase is occurred primarily due to raised expectations for wheat exports.
Regarding the S&P Market it seems that Tanker deals continue developing lately in spite of the low rates. M/T “Rainbow River“(107.160 dwt, Built Koyo Japan 1999) was reported sold to Greek buyers for USD 24 mill, following the one month earlier sale of the two years older M/T “Kythira” (107.176 dwt, Built Koyo 1997) to Indian Buyers for USD 21 mill.On the dry side we have seen a few Panamaxes changing hands lately. The M/V “Rondeau” (77.031 dwt, Built Namura Japan 2006, 9 HO / 9 HA) sold for USD 33 mill to Japanese Buyers, following the previous months’ sale of the one year older M/V “Mineral star” (76.285 dwt, Built Tsuneishi Japan 2005) for USD 32 mill. The M/V “Grand Sky” (75.752 dwt, Built Sanoyas Japan 1998) for USD 20 Mill via auctionand the sale of the 3 years older M/V “New Arising” (71.695 dwt, Built Hitachi Japan 1995) for USD 18.9 mill to Greek Buyers are some of the Panamaxes reported to have been sold during the last week.
Regarding inquiries the interest from the markets in the Far East is showing an increase of approximately 20%. The Greek market has shown a slight decrease in purchase interest by about 9%, while the European and other markets remain stable.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Sakthi Sugars Limited - India
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