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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, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Parliament of New Zealand
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- White Energy Company Limited
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
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