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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, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Australian Coal Association
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
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