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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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- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- ASAPP Information Group - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Antam Resourcindo - Indonesia
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