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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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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
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