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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, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- The University of Queensland
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Planning Commission, India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
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