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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, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
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- Medco Energi Mining Internasional
- VISA Power Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
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