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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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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- The University of Queensland
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
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