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Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
 With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels witnessed last month. The Baltic Dry Index edged up by nine points to an average 1,352 from 1,343 in April. Only the Panamax segment recorded increases in rates, while Capesize and sub-Panamax segments witnessed further declines in rates. However, the decline in bunker prices, albeit a small one, gave owners some relief as decline in voyage cost provided a support to the earnings.
Even as the freight market failed to bring any cheer in the owners’ camp, newordering activity remained high (albeit lower from last month) as owners relentlessly tried to capitalise on falling asset prices. A total of 74 bulkers were contracted in May, as compared to 72 in April. In dwt terms, however, a total of 5.8 million dwt of orders were placed in May, compared with 6.5 million dwt in April. With the Capesize turning out to be the least profitable segment, the pace of neworders for Capesizes slowed, resulting in the overall reduction in total tonnage ordered over the month.
Despite the freight markets giving unpromising returns, owners remained undaunted and continued to acquire prompt tonnage. Secondhand sales during the month stayed at April level of 2.2 million dwt. In the demolition market, a situation where the market is ailing from a glut of ships, increases in demolitions might take the market closer to the equilibrium. A total of 2.4 million dwt of tonnage was sold for demolition – a level last seen in January 2009. An increase in demolition prices provided further push to owners who were contemplating demolishing their tonnage. Demolition prices increased on an average by 5-6%.
Our view Although demand is improving with China increasing its coal imports amid higher domestic prices and grain trade generating longer tonne-miles with South American countries continuing to bridge the gap before the return of Russia and Ukraine in the grain market, the supply side anomalies pose grave danger to the recovery in the dry bulk freight market.
Source: Drewry / Hellenic Shipping
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Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
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