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Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and panamaxes continue to trade at levels lower than their smaller counterparts, i.e. supramaxes and handies. In a complete paradox, earnings for handymaxes have reached double levels, compared to capesizes. At the same time, South American grain fixtures continue to float at firm levels, whereas the Chinese iron ore fixtures have shown some signs of minor increase not enough to balance with the oversupply in the capesize and panamax segment.
According to Commodore Research, about 81 million tons of iron ore is currently stockpiled at Chinese ports, an increase of 1.4 m tons (2%) from a week ago. Stockpiles have remained at near record levels since the end of January. There is anticipation for an increase in Chinese thermal coal fixtures till the end of May that will provide assistance to struggling capesize, panamax and supramax rates. Chinese thermal coal fixtures have already begun to increase due to low coal stockpiles and the approach of Northern Hemisphere peak season summer demand. However, domestic coal prices are still relatively low compared with international coal that impedes further a record of activity from previous year levels.
In a report from Golden Destiny, it is noted that Australian coal production continues to recover from the severe flooding seen at the end of last year, but there will still be periods of heavy rain in the coal rich eastern part of the nation. Weather conditions are expected to be much improved in Australia’s iron ore rich western region. As vessels’ deliveries surge, capesize and panamax freight markets will experience sporadic freight markets. Moreover, seaborne supplies of iron ore are unlikely to rise substantially for now even India’s Karnataka state has already lifted the ban on April 20th, due to monsoon period looming next month.
“After many weeks of constant fall, the BDI has finally showed small gains the last two days by closing at 1,269 points, up by 15 points (1%) from the end of previous week and down by 28% from the end of 2010, while at similar week in 2010 the BDI was 3,354 points. Capesizes are currently earning $ 6,698/day, an increase of $151/day (2%) from a week ago. Panamaxes are earning $11,620/day, an increase of $596/day (5%) from a week ago. Supramaxes are earning $14,530/day, a decline of $115/day and handysizes $11,897/day, a decline of $88/day respectively from a week ago” said the shipbroker.
In terms of the Greek presence in the new building and second hand markets, it was reported that while they are quite active in the first segment, they are equally inactive in the second. For instance, in the secondhand market, one panamax bulk carrier of 72,493 dwt built 1998 reported to have gone to Greek hands at a price region $20,2 mil. In the newbuilding market, DryShips, Safe Management Overseas and Atlantis Management have invested in the bulk carrier segment, placing two units in the capesize segment, one in the kamsarmax and one in the handysize segment respectively. Moreover, in the tanker segment European Navigation has placed an order for two suezmax shuttle tankers at price believed to be more than $100 mil each. in the newbuilding market, the total amount of money invested this week by the Greeks is estimated to be more than $300 million.
“In terms of S&P activity, the week ended with 44 sales reported in the secondhand and demolition market posting a 12% negative w-o-w change. The highest activity has been recorded for the last two weeks in the newbuilding market with more than 120 new contracts worldwide. Overall, in the secondhand market, 26 vessels reported to have changed hands this week equalling a total amount of money invested in the region of US$ 362.18 million.
In terms of the reported number of transactions, the S&P activity has been marked with a 18% negative w-o-w change, while is down by 7% comparable with previous year’s weekly S&P activity when 28 vessels induced buyers’ interest with bulk carriers grasping 25% share and tankers 53% of the total volume of S&P activity. In terms of invested capital, the most overweight sector for this week is the bulk carrier segment grasping 58% of the total amount of money invested with mostly handymax and panamax units of all ages being on the frontline” said the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Australian Coal Association
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
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