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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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Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
Saturday, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
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- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
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