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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, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
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- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
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