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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 decreases, as it’s obvious that the outstanding oversupply of dry bulk carriers is so massive, that demand simply can’t and won’t keep up. Yesterday, the BDI fell for the second consecutive day, ending at 1,320 points, down by 1.05%, led by falls in all markets, but most evidently by the Panamax segment’s lack of demand. This has come as a sharp contrast to what was the case during the past few days, when the Panamax market was the one leading the freight rates’ rise. Yesterday, Panamaxes lost 2.43% on average, while the loss in the capesize segment was less, down by 0.73%.
According to a relative analysis, provided yesterday by ship owners DS Norden, spot rates in the dry cargo market has been decreasing throughout the first quarter. The BDI fell by 14% at the end of the quarter, compared to where it was at the end of 2010. Similarly, the average for the BDI in the first quarter was 55% below the average for the first quarter of 2010. In general, the Capesize vessels were hit the hardest, whereas the other vessel types performed relatively better. However, the pressure on the smaller vessel types appears to be increasing following the end of the quarter. The drop in rates during the period was caused by a combination of continued addition of newbuildings, declining coal exports from Queensland, Australia, due to flooding, and finally declining imports of raw material to Japan after the earthquake in the north-eastern part of the country.
“As expected, the addition of newbuildings to the dry cargo fleet continued at a high level. It is estimated that a total of 22 million dwt. was delivered, corresponding to a growth rate of approximately 16% on an annual basis. The majority of the tonnage was delivered to the global Capesize fleet, which increased by more than 4%, whereas the Handysize fleet only increased by 1.5%. The growth was counterbalanced by a major increase in the scrapping volumes which grew by nearly 5 million dwt. – corresponding to approximately 4% of the fleet on an annual basis (source: R.S. Platou). If the fleet development from the first quarter continues, the supply growth rate will amount to approximately 13% net, which is still estimated to be too high to be absorbed by an otherwise great increase in demand” Norden said.
Commenting on the panamax market this week, Fearnley’s said that “the increase in activity and rates especially in the Atlantic from mid last week dropped somewhat as from beginning this week. T/a now largely steady and owners more reasonable and willing to repeat last done. More coal in Atlantic was the main reason for the positive upswing with rates pending between 15-16k. For ESCA the grain is still main driver with levels between 25,000 -26,500 + bb 550-600k. As more and more spot Capes offering in on Panamax stems, where this is possible, the result can influence negative on Panamax as well and predictions for coming weeks are more conservative. I the Far East rounds paying 14k and short period tic more”.
As for the Capesize segment, it said: “The week has been fairly quiet, with steady levels. Although freight levels slightly down, levels are flat due to lower bunker prices. Still a good number of ballasters and some vessels waiting outside Brazil, with lack of fronthaul cargoes for May dates. For West Australia to China, levels remain unchanged around usd 7.50 pmt, last done today usd 7.40 pmt by FMG. It seems people in general accepting the difficult and challenging state of the Cape market, and that the situation will remain for some time”.
Regarding the smaller ship types (Handy/Supramax) the market has been “stable/flat with positive undertone in the Atlantic meaning more enquiry hitting the market today. Lack of prompt vessels. Trips to the Far East around usd 22-25k per day for Supras nevertheless a lot of actors are still assessing the market´s direction. The Pacific market remains quiet with holiday in Korea and monsoon setting soon in India closing WCI iron ore activity. For Indo-India, Supras in North China are getting close to 13.5k. WCI-China rates slided to 15k and from ECI around 13k but few ships seen ballasting to Indonesia as not much cargoes ex-ECI. Red Sea, ferts on Handymax/Supras are fixed at very mid 20´s pmt on voyage basis to WC India. Large Supras for RBCT/India round now asking 15k. Not too much activity on short period as market bit volatile and speculative and hear index type vessels fixed at mid-teens” concluded the shipbroker in its weekly 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 ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
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