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Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured even if the world economy hadn’t undergone the worst recession in recent decades. With China’s moods and swings continuing to play a catalytical role in dry bulk rates’ volatility, things are expected to stay as they currently, at least until more nations like India and other emerging economies come forward and major economies return to their pre-recession levels of activity.
As a result of these conditions, with the added “bonus” of fears for a Chinese economy major slowdown, the Baltic Dry Index (BDI) remains trading at multi-year lows, declining by more than 20% since the beginning of the year. Yesterday, the index took another dive down to 1,420 points, a fall of 1.25% on a daily basis. All ship types were down as well, with Capesizes losing 1.63% and Panamaxes retreating yet again by 2.33%, on the back of Tuesday’s fall of 3.18 percent. Brokers said the market lacked direction due to slow business. In a report, Reuters said that earnings for panamaxes, which usually transport 60,000-70,000 tonne cargoes of coal or grains, have more than halved since the same period last year.
"We continue to believe that the order book will outweigh the impact of scrapping over the near-to-intermediate-term and keep dry bulk day rates under pressure," Wells Fargo Securities said in a note, quoted by Reuters.
In its weekly report, shipbroker Fearnley’s said, referring to the capesize market, that “the Pacific market has continued to rise on the back of last week´s strength. Driven by vessels delays the majors had to scramble to cover early positions and driving the West Australia freight rate up from a conference level in the mid/upper USD 7.00´s to high USD 9.00. Since then it has pulled back a bit but still trading in the upper USD 8.00 level. The Atlantic has also proven to be robust with levels now north of USD 14k daily on timecharter, and tonnage is still in tight supply. There were a few period deals done in the upper USD 11k´s for short period, and around USD 11k for a one year deal. Presently the market seems stable at today´s improved levels” said the shipbroker.
Regarding the ailing Panamax segment, it mentioned that it “continued its downward pointing curve this week with rates knocking off ard USD 1,000 in both hemispheres. It seems the Pacific has dried up with cargoes as rates just keep on declining. Several ows are now ballasting towards the ECSA grain cargoes to secure employment for their ships. In the Atlantic owners are getting more and more reluctant to leave the basin and this puts pressure on the rates. The Tarv´s are now being fixed in the region of USD 15k while the Fhauls are fetching around USD 22k. In the Pacific, rounds are being fixed at tick below USD 10k while the backhauls are getting a poor 5k level. The period market also took a dive this week with the MV CLARE 74,759 dwt/blt´05 being fixed with delivery Mizushima for 11/14 months at USD 12,750” said the report.
As for the smaller Handy/Supramax segment, Fearnley’s noted that “the Atlantic seems over supplied with tonnage on prompt positions. The sentiment is nervous but it could be better balance for mid July positions onwards. EC South America also softening assisted by ballasters from Indian Ocean. West coast India remains inactive due to monsoon in India. There has been no change in India, good vessel in EC India may see around USD 10k for an Indonesian round voyage and Richards Bay will see the same. Handymax/Supramax may see low/mid USD 20 for Red Sea/India business. In the Pacific large Supras are able to secure 10k for NoPac rounds with an underlying weaker tone for forward positions” concluded the shipbroker.
In its report, Reuters mentioned that brokers were watching for further developments in China, which is facing its worst power shortages in years and likely to have an impact on dry freight activity. Uncertainty over prospects for the world economy could also potentially hurt demand for raw materials said the agency.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
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- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Planning Commission, India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
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