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Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pattern, falling yesterday for a seventh straight session. The BDI is now down to 1,271 points, again as a result of the suffering from huge oversupply panamax market segment. The relative Panamax Index was down by 4% yesterday to 1,597 points, the Capesize market was practically unchanged, to 1,459, still lagging against its half in size counterpart. On a more resilient tone, the Supramax market was up by six points to reach 1,399 points.
Average daily rates for panamaxes now stand at $12,806, while for Capesizes they stand at just $5,688. Supramaxes command a daily average of $14,625, while handysizes earn $11,679 on average. According to Erik Nikolai Stavseth, an analyst with Arctic Securities ASA in Oslo, who was quoted by Bloomberg, the decline may continue in the panamax front. He said that they expected a further weakening in the panamax market as reports indicate a high number of vessels available. According to the analyst, power shortages in China and low coal inventories will most certainly boost coal imports, but again they won’t be enough to lift rates.
Commenting on the panamax market, Fearnley’s said in its latest weekly report that “another relatively slow week, still shoving some activity from EC South America, but some fix and failures as market clearly is in a downward trend. Rates nudged up to the mid USD 25k daily range and around USD 500k bonus on the run to the eastern hemisphere. For Transtlantic business the pressure on the Continent for prompt tonnage seems to ease and rates on average around the 13k mark. Rates in the Far East also heading south with spot-prompt ships struggling to find cover from any fresh orders as rates descend closer to the 10k level. Period business very limited and the forward market now rating the next 18 months just under USD 12k/day. Other segments not adding any support or fuelling a bearish sentiment” said the report.
As for the Capesize market, it mentioned that “during the past week, two more 12-month period deals have been done at a lower USD 11500. Even as new lows are reached the volume is thin. The recent fall in bunker prices has not come to the owners benefit, but rather to the charterers. Rates across the board have fallen during the last 7 days and today the weakest market is the in the Atlantic. With the present spot market charterers are also struggling to make sense of taking short period vessels as it is difficult to recover the premium vis-a-vis the spot market” said Fearnley’s.
Finally, on the Handy/Supramax markets: “The Atlantic is marked by volatility and very positional, nevertheless USG, NCSA, Cont remain strong thanks to the petcoke, grains and scrap but the flooding in the Mississippi could have a negative effect on the market. The S.Atlantic is a bit more active and seeing more and more tonnage ballasting from Med. The Bl.Sea is difficult for Supras. Trips to Feast are at 20k+400k levels.
Outlook: Steady. Pacific market remains quiet. For Indo-India, Supras in N.China gets close to 13k. Nickel-ore rounds get firm rates in high teens from Indonesia. Also many owns prefer to do now Indo coal or nickel ore to China rather than going to India owing to monsoons. WCI-China rates slided to 15k and from ECI around 13k, but few ships seen ballasting to Indo 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. Short period deals done at mid-teens for large Supras” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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 ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
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