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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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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Australian Coal Association
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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