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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- The University of Queensland
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
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