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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
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