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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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Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Australian Coal Association
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
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