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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, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
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- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
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