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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, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Planning Commission, India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
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